What is Force DAO (FORCE) | What is Force DAO token

In this article, we’ll discuss information about the Force DAO project and FORCE token

Force is a protocol and DAO dedicated to producing superior returns by adhering to community-proposed strategies, and rewarding the strategists with powerful incentives.

We leverage high returns from yield-bearing DeFi protocols to provide investors with permissionless, secure, and innovative finance that can’t be stopped. Let the people invest!

Our mission is to identify and exploit alpha across multiple chains and scalability layers, starting with L1 Ethereum.

Our vision is to lead the design and implementation of high performing, institutional-grade DeFi products, from investment strategies to analytics and infrastructure tech.

What characterizes us amongst our peers, is the belief that the future of finance requires:

Integrity: Non-anonymous, accountable and transparent.
Excellence: Rigorous security, and user-centric design.
**Empiricism: **Combining fundamental and quantitative methods.
Community: 100% driven, governed and owned by its members.

Our mandate is to fill this gap.

The Rise of DeFi and the Surge of Retail Investors

February 5th 2020 Global TVL in DeFi was $997M USD (source).

Financially active millennials are tech-first and vigilant of traditional finance’s drawbacks. Many believe coming out of 2008, Wall Street took enormous amounts of risk leaving retail investors holding the bag. In the aftermath of the recession, the world struggled to understand why large capital firms were bailed out while families suffered in distress.

Technology has empowered a new generation to become financially autonomous. When retail-grade financial apps such as Robinhood are coupled with the power and reach of the internet, the result is agency.

The Wall Street Bets phenomenon marks the start of a pendulum swing, a pushback against the traditional finance establishment.

This is also the phenomenon behind the rise of DeFi. The search for permissionless, censorship resistant money gave birth to the need for decentralized financial instruments. In one year, DeFi TVL grew from $997M to $30.1B.

A bet on crypto is a bet on free, sovereign humanity. This is our zeitgeist.

We’re remaking the financial system for ourselves, and inviting you to join us in the fight.

Products

Core Vaults

Core Vaults are automated yield aggregators tracking the highest performing pools and farms for BTC, ETH and stablecoins. This set of vaults are maintained by the DAO’s operations team.
We seek to initially test our DAO structure with established strategies to secure our foundation. These initial strategies are designed to be low-risk and passive.

Edge Vaults

Edge Vaults are next-gen automated yield strategies proposed by community members.
Edge Vaults are the production version of Force Prize winners, a global competition for DeFi strategies. Prize winners are selected and incubated through the DAO (funding, development, marketing).

Profit Sharing Vaults

Profit Sharing Vaults are staking contracts that distribute profits generated from across all vaults and products in the ecosystem, pro rata.
To align incentives between strategists, investors and DAO members, profits generated from any Edge Vault are distributed: 80% to investors, 17% profit sharing and 3% to the individual(s) who designed/deployed the strategy. Core Vaults are distributed 80% to investors and 20% to profit sharing.

Force Prize

Force Prize is a large-scale global incentive competition to crowdsource DeFi’s highest performing investment strategies.

We believe solutions can come from anyone, anywhere. Scientists, engineers, entrepreneurs, academics and other innovators with new ideas from all over the world are invited to form teams and compete to win the prize.

We have partnered with Gitcoin and top DeFi protocols to setup prizes in pre-defined themes.

Rewards

Token Rewards: All prize winners earn a baseline number of Force tokens. In the case of themes sponsored by other DeFi protocols, winners are rewarded an additional number of governance tokens.
Performance Fees: Earn 3% of all profits generated by your team’s vault or product.

Economics

Disclaimer: The Force is strictly a token to govern the DAO and drive the protocol’s direction. It has no monetary value.

Token

As a DAO, our project will be always led by its community. Token holders drive the strategy and direction of the protocol.

Force’s governance token is Force. The token is designed to be used as the basis for our token governed organization, aligning incentives while keeping it 100% decentralized.

Symbol: FORCE
Supply: 100,000,000
Type: ERC-20 (Aragon minime)
Address: 0x6807d7f7df53b7739f6438eabd40ab8c262c0aa8

Distribution

25% — Airdrop: Large-scale Force distribution to reward and invite communities that share our vision and ethos.
35% — Emissions: Incentives for protocol capital providers and to drive governance objectives.
25% — Treasury: Reserves to finance strategies, products, tools, and infrastructure.
10% — Genesis Team: Founder rewards vested linearly over 18 months to ensure the long-term success of the ecosystem.
5% — Early Contributor Program: Milestone-based incentives for early members who help kickstart and operate the DAO.

Force DAO Airdrop Details

Welcome to the final stretch Jedis 🧙!

The Force DAO team is excited to announce the FORCE token airdrop, which is scheduled to start this coming Saturday, April 3rd at 12pm EST.

Here’s what you need to know:

Start Time: Saturday, April 3rd at 12pm EST
**End Time: **Saturday, April 24th at 12pm EST

There will be a 3-day deprecation period starting on April 24th_. _This means the amount of rewards claimable per user will reduce linearly on every block until the end of the 3-day deprecation period (Tuesday, April 27th). Claim before April 24 at 12pm EST, and there is no deprecation for your claim.

Unleashing FORCE Rewards

In preparation for the end of the Public Beta and the full-platform launch, Force DAO is turning on all Staking Pools starting tomorrow at 12pm EST.

A full economic breakdown will be provided separately on our docs. Here’s an overview of our short-term emissions schedule:

Beginning Tuesday, March 30th, all funds deposited and staked in a Reward Boost contract will earn a moderate APY, between the 10%-50% range.
Upon airdrop start, on Saturday April 3rd, rewards will increase marginally to the 100%+ APY range.

The former is designed to incentivize platform adoption, while the latter is designed to increase TVL, as new strategies and products are rolled out throughout the next 2 weeks.

We’re excited to unveil the novel financial products we’ve been working on in the cross-chain, indices and lending space.

🪂 Airdrop Distribution

When our team first started this project, there was a shared belief that our tokens shouldn’t be distributed via a public sale or private sale with VCs.

We wanted to attract DeFi’s brightest minds, inviting existing communities with common ethos and vision.

This is still the case, and the reason we chose an airdrop as our primary token distribution method.

With time, we’ve refined this thinking, and we’re excited to share how FORCE will be distributed over the next couple weeks.

Overview

This is the first multi-chain airdrop, and there will be 2 stages to it. The first stage (and the largest distribution) is for the Ethereum community. The second stage is for EVM compatible blockchains.

As mentioned in our introductory post, 25 million FORCE tokens of our fixed 100 million supply, will be distributed over the next month.

Ethereum Projects

Amount: 17,750,000 FORCE
Dates: Claimable throughout April 3rd — April 24th
Recipients: Participants in the Aave, Alchemix, Badger, Balancer, Curve, Maker DAO, Synthetix, Sushi, Vesper, and Yearn communities.
Rationale: Shared ethos and vision. The airdrop selection process will be made available soon after this post on docs.forcedao.com.

Force Public Beta

Amount: 4,500,000 FORCE
Dates: Claimable throughout April 3rd — April 24th
Recipients: Public Beta and Light Speed participants.
Rationale: Reward early supporters and testers helping bootstrap Force.

Harvest Finance

Amount: 250,000 FORCE
Recipient: Harvest Finance Multisig
Rationale: A gift for allowing us to use their smart contract infrastructure as the basis for our “Yield Aggregation” product. Thank you Harvest.

Multi-Chain

Amount: 2,500,000 FORCE
Target Dates: April 15th — April 24th
Recipients: Participants in the BSC, Polygon, xDAI, and Fantom DeFi ecosystems.
Rationale: The future of DeFi is chain agnostic, and we want to reward users who’ve used other EVM blockchains for open finance.

For transparency, our team will make the SQL queries and blockchain data feeds used to construct our airdrop list available on docs.forcedao.com soon after this announcement is live.

📅 Claiming Period and Deprecation

Eligible recipients can claim full airdrop funds for up to three weeks. At the end of the three-week claim period, any unclaimed FORCE tokens for each unclaimed address progressively deprecates for 3 days.

Claim Period

Start Time: Saturday, April 3rd at 12pm EST
**End Time: **Saturday, April 24th at 12pm EST

Deprecation Period

Start Time: Wednesday, April 24th 12pm EST
**End Time: **Monday, April 29th at 12pm EST.

Throughout the three day deprecation period, the amount of claimable rewards are reduced linearly by each block.

Airdrop funds can be claimed at this time at deprecated amounts until the end of the deprecation period, at which point no FORCE will remain in unclaimed airdrop accounts.

The reclaimed FORCE airdrop funds will go back to the Force DAO treasury.

🗳️ Claiming The $FORCE Airdrop

Once the airdrop is live, eligible recipients can check on the forcedao.com page in the top-right corner to see their available xFORCE balance.

xFORCE is the “interest-bearing” version of FORCE. It represents your share in the FORCE profit-sharing pool. By airdropping xFORCE, all recipients earn the native FORCE Vault APY from the moment the airdrop is live.

Our team has the community’s best interest at heart. By airdropping xFORCE, users can earn the interest derived from the performance of our platform’s strategies and pay for the costs associated with claiming and withdrawing FORCE.

To redeem your xFORCE tokens, click the CLAIM button on the popup box indicated below, and enact a transaction. This transaction will require an ETH wallet and ETH for gas.

We are thrilled to take this next step with our community. Join in and earn rewards starting tomorrow, and watch them increase to 100%+ APY in the coming weeks.

We’re seeding Force DAO with your participation, and together we’ll build next-gen multi-chain investment strategies!

How and Where to Buy Force DAO (FORCE)?

Force DAO is now live on the Ethereum mainnet. The token address for FORCE is 0x6807d7f7df53b7739f6438eabd40ab8c262c0aa8. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Sushiswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use

Connect Metamask wallet to Sushiswap Decentralized Exchange and Buy FORCE token

Contract: 0x6807d7f7df53b7739f6438eabd40ab8c262c0aa8

The top exchange for trading in FORCE token is currently Sushiswap, and 0x Protocol

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FORCE gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com

Find more information FORCE

☞ Website ☞ Explorer ☞ Explorer 2 ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board ☞ Coinmarketcap

🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. You are responsible for what you do with your funds

If you are a beginner, learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

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What is Force DAO (FORCE) | What is Force DAO token | What is FORCE token