Base-money protocol Ampleforth announced the launch governance token FORTH, setting the stage for further expansion and community engagement following a successful year of adoption. The launch of the Governance token FORTH is an important step for the project path towards decentralization.
Smart commodity cryptocurrency protocol Ampleforth has joined its Defi brethren with a new governance token announcement. Ampleforth detailed to launch of its new Governance token, FORTH. FORTH is now available on Coinbase.
FORTH is an Ampleforth-based crypto token. “The introduction of that oracle means we do need a little bit of governance,” Kuo said, explaining the team did not know if its semi-stable model would work prior to Ampleforth’s 2019 launch. Like Uniswap, Ampleforth is enjoying a day one listing on the leading American Crypto exchange Coinbase. Coinbase users can now buy, sell, convert, send, receive, and store FORTH.
More than 75,000 users will be eligible to receive FORTH tokens and become founding members of Ampleforth’s governing body. These are members who supported the network long-term and through all market conditions. With the launch, 15 million tokens have been distributed to AMPL holders and previous participants in Ampleforth’s Geyser liquidity mining program. The initial supply will be available immediately, with future inflation set at 2% per year.
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67% of Forth will go to the AMPL community, 33% goes to early backers of project, team, advisors, supporter, and Ampleforth foundation.
Community allocation will govern by a point system scored by on-chain activity. “This will cause those who support the network long-term and through all market condition to accrue the most points and thus FORTH tokens.”
About Ampleforth
AMPL is arguably the most popular class of rebasing currencies, including ESD, DSD, and BASED. Ethereum-based protocol Ampleforth becomes the base money of the new decentralized economy. The price target $1, but its rebasing mechanism makes it different from a stablecoin. AMPL aims to be a unit account for the stable coin contract. It launched on DeFi’s leading smart contract platform Ethereum but has since expanded to Polkadot, NEAR, and TRON.
