Forfeit
Forfeit is a unique habit-building application that motivates users by having them wager real money on task completion. To avoid financial loss, individuals must provide proof of accomplishing their goals, leveraging loss aversion to drive consistency and accountability.
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Introduction
Product Overview:
Forfeit is an app centered on commitment, assisting users in developing and sustaining positive habits through the mechanism of financial stakes. Individuals define specific objectives, set deadlines, and assign a monetary penalty that is forfeited if the task remains incomplete.
Verification of completion is achieved by submitting evidence, which can include photographs, timelapse videos, GPS location check-ins, or synchronized data from integrated health and productivity applications.
The platform provides adaptable accountability settings, allowing for self-verification, verification by a friend, or assessment by a human reviewer.
By capitalizing on the psychological principle of loss aversion and employing diverse verification techniques, Forfeit effectively encourages users to remain dedicated and answerable for their commitments.
Key Features
Financial Commitment: Users risk actual funds as a penalty for not meeting their obligations, enhancing motivation through tangible financial stakes.
Diverse Verification Options: Supports proof submission via photos, timelapses, GPS check-ins, along with integrations for automated tracking with apps like Apple Health, Strava, RescueTime, and MyFitnessPal. Verification can be self-managed, done by a friend, or undergo human review.
Customizable Scheduling: Allows users to set forfeits for specific days, multiple weekly occurrences, or based on percentage-based completion targets to suit a wide array of personal goals.
Appeal and Flexibility Mechanisms: Users can appeal failed forfeits for human review and select leniency modes that influence the appeal process requirements.
Health and Productivity App Syncing: Connects with applications such as RescueTime and Apple Health to automatically monitor and confirm task achievement.
Geolocation Enforcement: Uses GPS check-ins to mandate presence at a designated location by a set deadline, providing concrete proof of task fulfillment.
Use Cases
Establishing Routines: Aids in forming consistent habits like regular exercise, meditation, or waking up early by introducing financial consequences.
Enhancing Focus and Productivity: Supports goals related to minimizing distractions, such as limiting time on specific websites or committing to focused work sessions using techniques like the Pomodoro timer.
Health and Fitness Tracking: Monitors physical activities like workouts or runs through visual evidence and seamless integration with fitness applications.
Academic and Personal Development: Encourages timely completion of assignments, reading goals, or other personal projects with an evidence-based accountability system.
Modifying Behavior: Assists in curbing unwanted habits by implementing location-based constraints and screen time limitations.
