Looking at how pivotal 2020 was for social tokens, it’s inevitable that the curation will play a crucial role in how new entrants discover, engage and interact with the best communities of tomorrow.
Forefront was built as a tool to aid in this curation - sharing resources, data and insights on how to navigate the ever changing social token landscape. Forefront now supports 23 social tokens. It’s the home for exclusive content on social tokens, a weekly newsletter, and profiles for 20+ projects and counting.
As we look forward to the next chapter of Forefront, we want to open its evolution to the very contributors making it valuable.
In this post, we’ll explore the vision for Forefront and dive into the Forefront ($FF) token - a community-driven curation token used to manage how new communities onboard and interact with the platform.
Forefront as a Social Token Gold Standard
Forefront is an insight aggregator across the social token landscape.
We’re quickly seeing a dichotomy between tokens issued through platforms like Roll on mainnet and others like Rally being issued on L2 chains.
The goal of Forefront is to provide market data on all types of social tokens, regardless of what platform they are issued on or what token standard (like ERC721) they utilize.
Forefront does not aim to support every social token, rather the one’s making an impact as per the guidelines and principles outlined in this post.
The overarching goal of FF is to better align and cement the criteria for projects that list on Forefront, and to provide a means for coordination using token-based voting. Guiding principles of projects listed on Forefront today include but are not limited to:
- Organic usage
- Utility outside of speculation
- Active participation from its users
- Core contributors responsible for the stewardship of the community
- Onboarding resources for new members to join
- Principles that do not revolve entirely around token price
While these characteristics are largely soft-coded, it goes to show that the Forefront community lists projects on a case by case basis, and that the requirements today do not include on-chain metrics such as unique token holders, volume or market cap as the primary listing requirements.
This is a living process. The community will be responsible for not just applying these criteria to new projects but for continuing to adapt the criteria over time.
With FF, the community should play an active role in deciding which projects are listed on the site, and what minimum criteria (if any) should be met and maintained for those who apply.
In the spirit of lean token design, the Forefront token (FF) is being released as a highly modular token used to influence future iterations of the Forefront product.
The goal is to create an exchange-compatible token list and allow projects to earn a verification badge by holding FF tokens in their treasury.
Forefront token holds no inherent value. It will launch with the sole use case of being used for governance.
At launch, tokenholders with more than 1,000 $FF tokens can join a private #curation-committee Discord channel to discuss which projects should be added to Forefront.
Over time this process will become more decentralized, looking to tools like Gnosis and Snapshot to allow for off-chain governance of token upgrades, curation and listing new projects.
We can envision a world in which $FF is used to upgrade to a premium profile, or used by the community to moderate and policy tokens that have a lot of attention, but may not necessarily be the best fit for the ethos that Forefront-listed social tokens look to encourage.
While the first use to curate listings sets a benchmark for onboarding, it’s likely that Forefront will be used for various other aspects of the platform, including but not limited to:
- Premium profiles features
- Application bonds
- Community staking
- Community content creation
- Sponsored communities
- Ranking multipliers
- Forefront campaigns
Future use cases for FF will be voted in through governance, as the community sees fit.
FF is being launched in the most minimal way possible, and will be distributed in a community-first fashion.
Retroactive Airdrop - 20%
20% of the FF supply will be distributed to all users that hold a minimum threshold of social tokens listed on Forefront.
Allocations were assigned based on the number of unique social tokens held, ensuring that a wallet held the minimum number of social tokens required to access the token permissioned groups. (55 for FWB, 1000 for JAMM, 17 for WHALE, etc. etc.)
Holders of the following social token on March 12th at 12 PM UTC are eligible for FF, so long as they held at least the minimum number of tokens required to join the token permissioned chat. If there was no minimum amount, the default number was set at 10 tokens (with exception of $RLY).
Please note, the airdrop snapshot was taken prior to the Roll social token hack, giving us the most accurate representation of the social token community before the big shake up.
Here’s a breakdown of the thresholds needed to earn a FF allocation from the following tokens:
- FWB CLASSIC,55
For each social token, holders received a base allocation of ~238 FF tokens. A total of ~6742 addresses qualified for the airdrop. In addition to the base allocation, SWAGG holders received a 2x allocation, FWB holders received a 1.25x allocation and WHALE holders received a 1.15x allocation.
These base $FF allocations stack on top of one another, meaning holders of WHALE, FWB and SWAGG will receive three FF allocations instead of a fixed allocation of 238 FF.
A full breakdown of the FF airdrop allocations can be found here.
Users will have 14 days to claim their FF airdrop before it is rolled over to the community treasury. A live counter of the time left to claim can be found directly on the Forefront claim page.
To claim $FF, simply head to airdrop.forefront.market and look for the Claim button on the page. If your address is eligible for the airdrop, you’ll be able to claim tokens directly from the site.
Stakeholders - 25%
Distributed to the core team, contributors and partners who have contributed to Forefront. 10% of the team tokens are unlocked at inception, remaining 90% vested over 6 months with monthly unlocks.
The Stakeholders pool is broken down as follows:
- Team - 12% - 10% unlocked at inception - 6 months lockup
- Core Contributors - 5.0% - 3 months social lockup (4% options future allocations)
- Contributors - 1.5% - (Fully unlocked)
- Partners - 4.5% - 6 months social lockup
- Advisors - 2.0% - 3 months social lockup
Seed Club will receive a 2% allocation of FF due to SWAGG being a part of the first social token cohort. The Seed Club and MintFund allocations will be subject to a 6 month social lockup.
The contributors allocation will go to those that have added guests posts and other content to Forefront so far, split evenly.
Community Treasury - 55%
Held in a 3/5 multisig to be distributed at the community’s choosing. 10% unlocked at inception, remaining 90% vested over 3 months with monthly unlocks.
The original signers of the Forefront multisig are:
- Carlos Gomes - @carlosecgomes
- Jess Sloss - @thattallguy
- Coopahtroopa - @Cooopahtroopa
- Shreyas Hariharan - @HelloShreyas
- Joey DeBruin - @Joey_DeBruin
This initial set of signers will serve quarterly terms. This means that once per quarter, FF holders will vote to either keep or replace the existing signers.
All treasury tokens will be transferred using FFDAO Snapshot proposals, with future ambitions to move to an on-chain DAO at the choosing of FF holders.
Treasury tokens are used at the discretion of the community, and may be allocated to any and all programs that add value to the Forefront ecosystem.
Forefront will now start a gradual path to community ownership.
We are always on the lookout for new projects and new ways to disseminate valuable information from those projects.
If you’re keen to help in this endeavour, join the Forefront Discord or help us spread the word on Twitter.
Until then, stay social!