What is Ampleforth Governance Token (FORTH) | What is FORTH token

What is Ampleforth Governance Token (FORTH) | What is FORTH token

Ampleforth Governance Token (FORTH) is the native governance token that powers Ampleforth, a protocol that automatically adjusts the supply of its native token, AMPL, in response to demand. FORTH holders can vote on proposed changes to the Ampleforth protocol or delegate their votes to representatives who vote on their behalf. What is Ampleforth Governance Token (FORTH) | What is FORTH token

In this article, we'll discuss information about the Ampleforth Governance Token project and FORTH token

FORTH is a new governance token that completes the AMPL ecosystem by putting control of the protocol in the hands of the community. Anyone who has interacted with the AMPL ecosystem on-chain is elligible to claim FORTH tokens.

FORTH is currently live and tokens can be claimed by members of the Ampleforth community.

Claim URL: https://www.ampleforth.org/governance/claim

Note:_ If you wish to claim your FORTH tokens, you must do so by April 16th, 2022. After this date, unclaimed FORTH will be placed in a community governed DAO._

To ensure an effective roll-out, an initial onboarding period will take place before binding on-chain voting with FORTH is enabled. This period ensures that the Ampleforth community has adequate time to familiarize itself with the governance system.

During this onboarding period, AMPL’s existing governance protocol will remain, with additional emphasis placed on conducting off-chain signaling votes. This process is further detailed here.

Any FORTH tokens that remain undistributed one year from the launch date will be reclaimed to a community-governed DAO. This is to ensure timely claiming of FORTH tokens and that governance remains in the hands of those who are active in the community.

How FORTH Works

FORTH is an inflationary token that can be directly utilized or delegated to propose and vote on changes to the Ampleforth protocol. Its model is an extension of Compound Finance’s COMP. To ensure a fair system that offers proper incentives for all network participants, initial governance parameters will be set when the on-chain governance is deployed.

Additionally, you will be able to delegate your FORTH to “representatives” who will then be able to utilize your voting power to propose changes or vote on your behalf.

Retro-active Distribution Breakdown

15 million FORTH have been minted at genesis and are available to be claimed by the community, participants and key contributors. The initial supply will be available immediately, and future inflation will be set at 2 percent annually. Allocation of the FORTH token to the existing Ampleforth ecosystem will be as follows:

  • 67% of FORTH to the AMPL community*

  • 33% of FORTH to early backers (e.g., the core development team, advisors, supporters and the Ampleforth Foundation)

The AMPL community includes the following on-chain factors: Geyser participants, wallets that have interacted with AMPL on-chain and community members that held during negative rebase periods.

Community allocation will be determined by the following factors:

  • Past, on-chain interaction with AMPL = 1 point (max)
  • Geyser program participation (per day) = 1 point
  • Negative rebase hold (per day) = 1 point

While each of the above factors will be scored evenly, the “on-chain interaction” factor is worth a maximum of one point in this equation. Geyser and Rebase are uncapped and can thus be worth more than one point each. This will cause those who supported the network long-term and through all market conditions to accrue the most points, and thus FORTH tokens.

The big takeaway here? More than 75,000 users will be eligible to receive FORTH tokens and become founding members of Ampleforth’s governing body.

A perpetual inflation rate of 2% per year will start after 1 year, promoting continued contribution for the Ampleforth community and support of the network.

Why Become an Ampleforth Ambassador?

With cryptocurrency and DeFi gaining traction, the need for a better foundation (or “better primitives”) within our ecosystem will become more and more apparent. At Ampleforth, we believe AMPLs and the underlying elastic supply protocol are based on sound economics and can therefore be a better base-money. However, most of our language and theory is heavy in real economics, as such, we hope Ampleforth Ambassadors will emerge from our community who can articulate and educate the wider population about these key concepts.

As an Ampleforth Ambassador, you will be on the front lines facilitating the education, events, and relationships that will drive the adoption and understanding of sound economics and oraclized money that will potentially be a key foundation of a future economy. As part of this, you will also have access to additional perks:

  • Exclusive Invites — Receive invitations to exclusive Ambassador events, private communications channels, and one-on-one communications with core-team members
  • Networking Opportunities — Work directly with some of the most influential figures and projects in the space while forging ties with other passionate supporters
  • Ampleforth Gear — Represent in style! Stand out with Ampleforth Ambassador swag, marking you as a special member of the crew

What is Required of a Ampleforth Community Advocate?

Duties will include both virtual and real-world components such as:

  • Host in-person community meetup events
  • Manage partner/sponsor and speaker relationship
  • Create content to keep your community engaged
  • Provide mentorship to new members
  • Serve as the local city advocate for visitors and team members
  • You will join the Ampleforth community team on bi-weekly check-up calls and keep us updated on your progress via group chats. We expect Ampleforth Ambassadors to be motivated and dedicated to producing measurable results.

How do I Become a Ampleforth Ambassador?

First, you must fill out the application form here. Those interested should have a familiarity with the Ampleforth protocol, which can be gained through reading the AMPL redbook and website. If selected, you will have a call with members from the Ampleforth team to ensure our goals and expectations are aligned.

If chosen after the call, you will begin the onboarding process. We will deliver you onboarding materials and schedule a follow-up call to go over the role in more detail and answer any questions you may have.

As your local community grows, there are additional opportunities to expand your role. Becoming an Ampleforth Ambassador leads to the potential opportunity of becoming a Regional Lead Ambassador. This will come with additional responsibilities and perks. More information on Regional Leads will be discussed upon a successful campaign as an Ampleforth Ambassador.

*Note: 2.5% will be carved out of the community allocation to fund a public community education program, with further details to be announced.

75,743

AMPL holders can now claim it

#MayTheForthBeWithYou

1. What is the FORTH token?

Forth is a new governance token that completes the Ample ecosystem by putting control of the protocol in the hands of the community. Using the Forth token, holders will be able to vote on changes to the protocol. Together, $AMPL + $FORTH mark a major milestone in the protocol’s journey towards becoming fully decentralized.

2. Am I elligible to claim it?

Everyone who has interacted with Ample on-chain before the snapshot block taken on: 03/30/21 is elligible to claim a portion of the Forth network. Over 80,000 people have interacted with Ample in the token's two year history, with over $5B in on-chain volume exchanged across Uniswap, Sushiswap, Balancer, and more. Connect your wallet above to see if you can claim.

3. How can I help?

A broader distribution is a better distribution. The $FORTH token is being entrusted to the widest possible network of holders who have a vested interest in $AMPL. You can help by making sure all of your friends and followers know to claim their tokens.

Would you like to earn TOKEN right now! ☞ CLICK HERE

How and Where to Buy Ampleforth Governance Token (FORTH)?

FORTH token is now live on the Ethereum mainnet. The token address for FORTH is 0x77fba179c79de5b7653f68b5039af940ada60ce0. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don't have a Metamask wallet, read this article and follow the steps

What is Metamask wallet | How to Create a wallet and Use

Next step

Connect Metamask wallet to Uniswap Decentralized Exchange and Buy FORTH token

Contract: 0x77fba179c79de5b7653f68b5039af940ada60ce0

Read more: What is Uniswap | Beginner's Guide on How to Use Uniswap

The top exchange for trading in FORTH token is currently Coinbase Pro, Uniswap (V2), Bilaxy, and 0x Protocol

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FORTH gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com

Find more information FORTH

WebsiteExplorerExplorer 2Source CodeSocial ChannelSocial Channel 2Social Channel 3Message BoardCoinmarketcap

🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!

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