FORTH is a cryptocurrency that powers Ampleforth, a protocol that automatically adjusts the supply of its native token, AMPL, in response to demand. FORTH is Ampleforth’s governance token. 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)?
Ampleforth Governance Token (FORTH)is a cryptocurrency that powers the platform, Ampleforth. The Ampleforth ecosystem operates on a dual token model, i.e., AMPL and FORTH.
FORTH is the governance token operating on the Ampleforth platform. A governance token provides its token holders with the right to vote on important decisions of the platform, which may even affect the future direction of the platform. The fundamental function of FORTH is to allow FORTH holders to vote on protocol changes or delegate their votes to representatives who can vote on their behalf.
As mentioned on the website, the Ampleforth protocol is governed by a sequence of phases, each of which represents increasing levels of community consensus. Proposals and ideas are discussed in the platform’s public forum or on Discord, and they are finalized when they are deployed on-chain. At Ampleforth, governance is a six-stage process with the following structure:
Discussion: This is the first stage of the process, where ideas related to the protocol are discussed in many places, including governance forums, social media, community DAOs, and more.
Proposals (AIPs/ACCPs): AIPs (Ampleforth Improvement Proposals) and ACCPs (Ampleforth Configuration Change Proposals) are official documents that specify the proposed changes to the protocol.
Targeted Discussion: Each proposal has its own forum subject, which is used to discuss the proposal's outcomes. At this stage, the purpose is to address any outstanding issues and formalize off-chain consensus.
Off-chain signaling: If the third step does not fix all of the issues, token holders' feedback via off-chain communication or preliminary informal vote via social media may be utilized. Such conversations may give a good indication of the outcome of the final vote.
Technical Development: Ideas that pass the first four steps are put into practice on the testnet, where they are thoroughly tested and audited.
Binding Vote/Deployment: This is the final step that happens on-chain. The on-chain vote is "binding" since it results in code execution without the involvement of any intermediaries. This is the final stage, where participants cast their votes using FORTH tokens.
History of Ampleforth (FORTH)
Ampleforth was cofounded by Evan Kuo and Brandon Iles in 2018. The whitepaper was released on July 12, 2019. Ampleforth’s FORTH token was introduced in April 2021 to separate the transactional stablecoin of the platform from governance functionality.
Kuo, the CEO of Ampleforth, received his BS from the University of California, Berkeley. Iles earned his MS from Rice University and has experience working as a software engineer with firms like Google, Uber, and others.
How Many FORTH Tokens Are There?
The maximum total supply of FORTH tokens is capped at 15 million FORTH.
How to Buy FORTH Tokens
Users can trade FORTH tokens on various exchanges, including Coinbase's centralized exchange.
