Ampleforth’s $FORTH Governance Token — How to Claim & What is It?

How to Claim $FORTH?

  1. Go to https://www.ampleforth.org/governance/claim/
  2. Connect the wallet you used to interact with Ample on-chain before the snapshot block taken on 03/30/21.
  3. Click “CLAIM” and confirm the claim via your wallet.
  • Note — Make sure you have enough $ETH in your wallet to pay for the gas fees associated with your claim.
*Unable to fetch merkle proof*

Who Can Claim $FORTH?

Anyone who interacted with $AMPL on-chain before the snapshot block taken on March 30, 2021, is eligible to claim $FORTH tokens and must do so by April 16th, 2022. This gives eligible users 1-year window to claim and after this date, unclaimed $FORTH will be placed in a community-governed DAO.

  • 67% to the $AMPL community (that’s a bigger % allocation than $UNI!)
  • 33% to early backers (the core development team, advisors, supporters, and the Ampleforth Foundation)
$FORTH distribution
  • Past, on-chain interaction with AMPL = 1 point (max)
  • Geyser program participation (per day) = 1 point
  • Negative rebase hold (per day) = 1 point

What is $FORTH?

$FORTH is the governing mechanism that oversees Ampleforth’s evolution.

Why a Separate Token?

Why create $FORTH when there’s already $AMPL? Why not just use $AMPL itself for voting?

1. $FORTH Keeps $AMPL Philosophically Pure

$AMPL is a base money with an elastic supply based on sound economics. It’s a simple and pure monetary asset with inherent value. It’s not collateralized and its value isn’t derived from anything else.

2. $AMPL Wants to be “Put to Work”

$AMPL is intended to be used as money and as a composable collateral asset in DeFi. Using $AMPL for a non-monetary use case such as governance would take away from $AMPL’s original vision and could lead to biased governance outcomes and large market movements.

3. Freedom of Distribution

$FORTH is being distributed to members who supported the Ampleforth network long-term and through all market conditions. $FORTH tokens are being rewarded generously to those who accrued time and played an active role in the protocol, not by balances.

4. Freedom for Future Incentives

$AMPL is defined by its elastic supply policy and non-dilutive nature. Changing these fundamental qualities would mean $AMPL would no longer be $AMPL.

5. Technical Efficiency

$AMPL is a monetary asset and works best if it's liquid. Not needing to keep track of delegation or wallet snapshots keeps $AMPL transfers lean and cheap.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store