Decentralized Web3 Threat Detection Network Forta Introduces Delegated StakingExternal - Press Release
By: Energent Media • Loading...External PR
All FORT holders now eligible to stake their tokens to help secure the network
Camana Bay, Cayman Islands, February 28, 2023 — More participants in the Forta community can now help secure the Forta Network by delegating FORT, its native ERC-20 token, to node operators and earn rewards. This exciting new functionality is enabled by a new public architecture that can be accessed directly on-chain or via Forta’s updated user interface supporting delegated staking.
Here’s how the Forta Network works: scan nodes monitor each block of their specified network in search of any threats or anomalies, emitting alerts when something out of the ordinary is detected. Security researchers and Web3 developers then create detection bots, which govern the logic behind how these scan nodes look for network threats.
Until now, only these node operators were eligible to earn rewards for staking their FORT tokens, which are required to put up as collateral in order to run the node. Through the community governance process, the Forta Network has increased the staking limit to 15,000 FORT, and will now enable any FORT holder to delegate their stake. This opens up the opportunity for all FORT holders to directly contribute to securing the network and earn rewards in the process.
By opening up delegated staking to all users, Forta Network is significantly expanding its potential pool of network participants. As the number of scan nodes and detection bots actively scanning blockchain networks for security threats increases, Forta Network’s industry leading monitoring network grows stronger.
In order to be eligible for staking, Network participants must hold or acquire the FORT token and bridge the FORT to Polygon. They can discover nodes and select how they delegate their stake based on rewards, reliability, and other historical data by visiting https://app.forta.network.
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 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 to projects and protocols across the ecosystem.
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