Blockchain security firm Forta, presented a native token called FORT, to provide a motive to secure the network. Smart contract security broadly breaks down into pre and post-deployment checks and runtime security, including real-time monitoring.
A great analogy for Forta is that it’s a giant security camera and alarm system for Web3.
The Forta has two components: nodes and bots. Nodes are basically software dedicated to running the bots against each block of transactions on the blockchain which are supported, while blots are snippets of code that help resolve specific problems and send out alerts.
Any developer in Forta’s ecosystem can publish and run a bot for free. Node runners have been brought into the system manually in the past, and that’s changing with the token launch.
The Forta native token FORT will be required for a node runner, who will have to stake it as a security action. If the runner does anything suspicious, the staked tokens will be slashed. Runners who have a below-average performance can also suffer a penalty.
Holders of FORT will be able to use it to vote on governance proposals. Recently they held their first vote to nominate a governance council to aid with guiding the network until it moves to fully decentralized decisions.
It’s been said that Forta hasn’t publicly shared a token supply distribution plan, but it’s common in DeFi for about half of the tokens to be allocated to the community, used for infrastructure growth, and set aside in the treasury, while the other half goes to team members, advisors, and early investors.
By publicly launching the FORT token, it becomes clear that Forta is a completely permissionless network.