Welcome to Fortunity Docs. Here, we provide an explanation of our concept and aims for the project.
We live in an uncertain world. Our governments, businesses and families struggle to foresee the future of our economy. We outsource the task of understanding the future to a handful of 'experts' who rarely have the incentive to be accurate with their predictions. Worst of all, because of the lack of tools to trade these variables, your understanding is ignored by the current system.
To solve this problem, we invented Fortunity: a new system that lets anyone trade economic variables directly. From indicators like inflation to GDP growth, our goal is to empower you to turn wisdom into wealth – your predictions into profit. And, in the process, your unique insight will shape a clearer vision of our economy for everyone.
Fortunity is a decentralised exchange that allows users to trade derivatives that are directly linked to economic variables. We call this new class of derivatives 'Forecast Markets'.
These are a new type of prediction markets that allow for continuous trading of variables. Unlike prediction markets, which typically offer bets on a 'yes or no' outcome, Forecast Markets let you trade variables the same way you can trade stocks or other assets.
Fortunity uses a 'Growth Variable vAMM' to bring together traders and Liquidity Providers to make markets. This model is an adaptation of an Automated Market Maker used in perpetual futures DEXes. For the first time, our adaptation allows the smart contract to transform any economic variable, even non-positive indicators such as GDP growth rate, into a positive price of Forecast derivatives.
To ensure that our derivatives are aligned to the value of the underlying variable, we use a 'funding rate' indexed against the real-world variable's on-chain value. For this, we use Chainlink to verify off-chain data and bring it on-chain, allowing our markets to operate in a trustless way.
Thanks to their highly convenient and reliable data feeds, we decided to begin with making Forecast Markets for Inflation indicators on Truflation (check out Inflation Forecast Markets). In the future, we hope to scale our range of markets to leverage a wide array of Chainlink API feeds.
Fortunity is developed on Arbitrum, a scaling solution on Ethereum, which allows users to buy and sell tokens without network fees. We chose Arbitrum thanks to EVM compatibility, their fast-growing DeFi ecosystem, and their brilliant community of devs.
Fortunity won 1st place in the Chainlink 2022 Fall Hackathon (Truflation sponsor prize). Since then, we have continued to work behind-the-scenes to improve our first product, Inflation Forecast Markets, collaborating with Truflation to ensure the most secure and seamless user experience.
We aspire to create a world that rewards people's knowledge fairly. We aim to provide a universal exchange for trading the variables that matter to humanity. By building an ecosystem, we unlock a new paradigm in DeFi.
- Head of Markets @ London Blockchain Labs
- Economics Student @ University College London
- Winning Team @ Spacecamp Hackathon 2021
- Computer Science & Electrical Engineering Student @ New York University
- Ex Software Engineer @ Artimus ltd
- Ex Leader of Revolution Robotics Society
- Economics student @ University of Bath
- Ex Middle East Recruitment Consultant @ PER
- Ex National Team Swimmer @ Gibraltar
- Developer Student @ Encode Solidity Bootcamp
- Ex Materials Engineer @ Defense Microelectronics Activity
- Serial Blockchain Entrepreneur
- 25+ years of software development experience
- 2 years of web3 and solidity development
- Bachelor of Computer Engineering
- Software Development Engineer
- Masters of Computer Science @ New York University
- Ex Data Engineer Intern @ Amazon