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Ampleforth Governance Token

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Discover Ampleforth Governance Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ampleforth Governance Token?

Ampleforth Governance Token (FORTH) is a decentralized finance (DeFi) token that serves as the governance mechanism for the Ampleforth protocol. It allows holders to vote on changes to the protocol, ensuring the platform's further decentralization. FORTH was introduced in April 2021 and has a total supply of 15 million tokens, with a target inflation rate of 2% after the initial year. The token is used to propose and vote on changes to the Ampleforth protocol, making it a crucial component of the platform's governance structure.

How is Ampleforth Governance Token used?

The Ampleforth Governance Token (FORTH) is used as the governance mechanism for the Ampleforth protocol. It allows token holders to vote on changes to the protocol, ensuring that the community has a direct say in the development and evolution of the ecosystem. FORTH is used to propose, discuss, and implement changes to the Ampleforth protocol through a democratic governance model. This includes voting on proposals, delegating voting authority, and overseeing the implementation of approved changes.

How do I store Ampleforth Governance Token?

To store Ampleforth Governance Token (FORTH) tokens, you have two primary options:

  1. KuCoin Account:

    • Hold your FORTH tokens in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian, managing your crypto assets and ensuring security. Make sure to set up a strong password and upgrade your security settings to prevent unauthorized access.
  2. Non-Custodial Wallets:

    • For enhanced security, you can withdraw your FORTH tokens to a non-custodial wallet. This grants you complete control over your assets. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. However, this option may be less convenient if you plan to trade your FORTH tokens frequently. Be sure to store your private keys securely to avoid losing your tokens.

How to buy Ampleforth Governance Token?

To buy Ampleforth Governance Token (FORTH) tokens, you can follow these steps:

  1. Create an Account:

    • Go to Uphold.com and sign up for an account by providing your email address and personal details.
    • Alternatively, you can use Kraken's crypto exchange by creating a free account and connecting a funding method.
    • You can also use Coinbase by signing up or downloading the app and starting the sign-up process, which includes verifying your ID and adding a payment method.
  2. Fund Your Account:

    • On Uphold, you can fund your account with various payment methods, including bank transfers, credit cards, or other cryptocurrencies.
    • On Kraken, you can connect a funding method such as a bank account or debit card to buy FORTH tokens.
    • On Coinbase, you can add a payment method like a bank account, debit card, or initiate a wire transfer.
  3. Select FORTH:

  • On Uphold, search for Ampleforth Governance Token (FORTH) and select it for purchase.
  • On Kraken, navigate to the FORTH token and initiate a buy order.
  • On Coinbase, search for Ampleforth Governance Token and select it from the list of assets.
  1. Enter the Amount:

    • On Uphold, enter the amount you want to spend in your local currency, and the platform will automatically convert it to FORTH tokens.
    • On Kraken, specify the amount of FORTH tokens you want to buy.
    • On Coinbase, input the amount you want to spend, and the app will convert it to FORTH tokens.
  2. Finalize the Purchase:

    • On Uphold, review the details and confirm your purchase.
    • On Kraken, complete the buy order.
    • On Coinbase, tap "Preview buy" and then "Buy now" to finalize the purchase.

By following these steps, you can successfully buy Ampleforth Governance Token (FORTH) tokens on various exchanges.

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History of Ampleforth Governance Token

The Ampleforth Governance Token (FORTH) is a crucial component of the Ampleforth ecosystem, serving as the governance token for the Ampleforth protocol. FORTH was introduced to decentralize the governance of the Ampleforth protocol, allowing holders to vote on changes and steer the evolution of the ecosystem.

FORTH was launched in April 2021 as a "Day One launch" in collaboration with Coinbase. The token is designed to empower its holders with the ability to influence the direction of the protocol by voting on proposed changes or delegating their votes to representatives.

The initial roll-out of FORTH included an onboarding period where the existing governance protocol remained in place, with an emphasis on off-chain signaling votes. This ensured that the Ampleforth community had sufficient time to familiarize themselves with the new governance system before on-chain voting was enabled.

Any unclaimed FORTH tokens were placed in a community-governed DAO after the initial claiming period, ensuring that governance remained in the hands of active community members. The token's model is an extension of Compound Finance's COMP, aiming to provide a fair system with proper incentives for network participants.

FORTH holders can utilize their tokens to propose and vote on changes to the Ampleforth protocol, making it a key mechanism for shaping the future of the ecosystem.

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How Ampleforth Governance Token works

The Ampleforth Governance Token (FORTH) is a crucial component of the Ampleforth decentralized finance (DeFi) platform. It serves as the governance token, allowing holders to participate in the decision-making process for the platform's future development. Here's how it works:

Key Functionality
  • Governance: FORTH holders have the power to vote on changes to the Ampleforth protocol, ensuring that the platform remains decentralized and community-driven.
  • Dual-Token Model: FORTH operates alongside the AMPL token, which is a supply-adjusted stablecoin. This separation allows for distinct functionalities, with AMPL focusing on transactions and FORTH on governance.
  • Inflation Rate: FORTH has a target annual inflation rate of 2%, which is controlled by the decentralized autonomous organization (DAO).
Token Distribution and Claiming
  • Initial Supply: FORTH was launched with a total supply of 15 million tokens.
  • Eligibility: Around 75,000 users who interacted with AMPL tokens were eligible to claim FORTH tokens, with the amount determined by their past transactions and activity in the Geyser liquidity program.
  • Claiming Period: Users had until April 16, 2022, to claim their FORTH tokens. Unclaimed tokens were transferred to a community-run DAO.
Governance Process
  • Proposal Generation: Ideas and proposals are generated by the community through channels like Discord and the public forum.
  • Discussion and Voting: Proposals are discussed and voted on by FORTH holders, with the majority decision implemented automatically by the protocol.
  • Delegation: Holders can delegate their voting power to representatives, ensuring that their voices are heard even if they are not actively participating in the voting process.
Trading and Exchanges
  • Availability: FORTH is traded on various centralized and decentralized exchanges, including ICRYPEX and Kraken.
  • Liquidity and Fees: Exchanges like Kraken offer flexible funding options, low transaction fees, and fast withdrawals, making it easy to buy and sell FORTH.

In summary, FORTH is a governance token that empowers its holders to shape the future of the Ampleforth platform through a democratic process. Its dual-token model, inflation rate, and governance process all contribute to a decentralized and community-driven ecosystem.

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Ampleforth Governance Token's strengths

The Ampleforth Governance Token (FORTH) has several strengths:

  1. Governance and Voting Power: FORTH provides its holders with the ability to participate in the governance of the Ampleforth platform by voting on important decisions and proposals. This ensures that the community has a significant say in the direction of the project.

  2. Decentralization: FORTH is designed to increase the decentralization of Ampleforth, allowing the community to steer the evolution of the ecosystem through voting-based consensus.

  3. Dual-Token Model: The introduction of FORTH separates the governance functionality from the transactional stablecoin AMPL, following a model similar to Maker DAO. This separation allows for more focused management of the protocol.

  1. Stability: As a governance token, FORTH has been relatively stable compared to transactional tokens, which is beneficial for long-term holders and investors.

  2. Inflationary Model: FORTH has a target inflation rate of 2% after the initial one-year period, which can help maintain a stable supply and incentivize holders to participate in governance.

  3. Community Engagement: The token distribution and claiming process are designed to reward active users and those who have contributed to the platform through transactions and staking, promoting community engagement and participation.

These strengths contribute to FORTH's role as a key component of the Ampleforth ecosystem, ensuring that the community remains involved and invested in the project's future.

Ampleforth Governance Token's risks

Ampleforth Governance Token (FORTH) carries a moderate risk, according to InvestorsObserver analysis. This assessment is based on the token's price volatility and market cap changes over a 24-hour period, indicating that it can be somewhat susceptible to manipulation by limited trading.

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Did Ampleforth Governance Token raise funds?

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Ampleforth Governance Token's ecosystem

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Ampleforth Governance Token
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Ampleforth Governance Token’s team

  • Brandon Iles: Co-founder of Ampleforth, along with Evan Kuo, and continues to steer the project forward.
  • Evan Kuo: Co-founder of Ampleforth, along with Brandon Iles, and continues to steer the project forward.

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