Decentralized Web3 Threat Detection Network Forta Approves New Fee Model Proposal passes with overwhelming 96% community support
Camana Bay, Cayman Islands
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May 16, 2023 08:00 AM Eastern Daylight Time
The community behind real-time Web3 threat monitoring network Forta has voted to approve a new fee model that will strengthen the network and add a host of new features and reward opportunities for participants in the coming months.
The new fees will require subscribers to pay for alerts, findings, and labels generated by the Forta network, which will in turn reward network participants for generating the data. The proposal passed with 96% community approval, the highest rate yet, indicating overwhelming support from network participants.
The massive community support for the proposal stands as an unambiguous validation of Forta Network’s business model. The newly approved tiered pricing structure will enable users to choose from several different 30-day plans, which each provide access to different sets of data. Plan options will include:
General Plan - Includes paid access to Forta data generated by the majority of bots in the network.
Special Plans - Provide paid access to specialized data feeds, each purchasable separately at tailored pricing.
Free Plan - Offers free access to certain Forta data considered by the network to be in the interest of the public good.
Fees will be denominated in FORT as well as USDC, and users will be free to decide which token they prefer to pay with. The new fee structure will ensure the Forta Network’s long-term sustainability, enabling Forta to compensate network participants for their valuable efforts in securing the network through activities like deploying helpful bots, properly running nodes, and delegating stake for security. As the Web3 ecosystem continues to flourish and grow, scam and attack detecting bots like those on Forta Network will continue to gain traction and new capabilities.
About Forta Network
The Forta Network is a real-time, decentralized network providing detection services and security monitoring across seven blockchains. Forta detects threats and anomalies on DeFi, NFT, governance, bridges, and other Web3 systems in real time, enabling wallets, protocols and investors to react quickly and proactively neutralize threats to prevent or minimize the loss of funds. Launched in 2021 and backed by a16z, Forta protects the critical infrastructure of Web3 through a decentralized and community-run network, which serves as an early warning system across the ecosystem.
Contact Details
Forta Network
Colin Landers
Company Website
