$FORTH is About To Open All The Doors for $AMPL

If you haven’t already heard the news, Ampleforth launched a governance token called $FORTH on April 21, 2021, which was airdropped to anybody who had interacted with the $AMPL ecosystem on-chain.

It was the wildest and fairest airdrop in the history of crypto as the airdrop rewarded behavior, not balances, and $FORTH was near-instantly listed on Coinbase, Coinbase Pro, and added to Coinbase’s Earn program.

What’s more?

The successful launch of $FORTH has helped to raise $AMPL awareness in DeFi. It was a catalyst that brought $AMPL, the first rebasing currency and a key DeFi building block for denominating stable contracts, to the spotlight.

First, Who listed $FORTH?

Coinbase was the first exchange to list $FORTH just hours after launch. This created a domino-like effect and $FORTH was listed across other giant exchanges like Binance, Huobi, and OKEx shortly after.

Ok…but what About $AMPL?

While $FORTH began trading on major exchanges almost instantly after launching, $AMPL is nearly 2 years old now and still doesn’t trade on any of the above-mentioned exchanges.

What gives?

I’ll tell you.

It’s because $AMPL is a novel rebasing currency with an elastic supply.

People’s $AMPL balances literally increase or decrease daily.

To people unfamiliar with $AMPL, seeing their wallet balance decrease overnight due to a negative rebase is absolutely terrifying.

People aren’t used to seeing the number of tokens they hold fluctuate.

Now, imagine if $AMPL was listed on these top exchanges. Could you imagine the insane amount of support tickets from people complaining about the consequences of the negative rebase? It would be insanity and no exchange can afford that situation during the current mega bull run we’re in.

I tweeted about these thoughts earlier this month:

So yeah, crypto exchanges are already overwhelmed with verification requests and support tickets enough as it is, they don’t want to add more to their plate.

However, now that $FORTH has been listed on major exchanges, you can see the light at the end of the tunnel for $AMPL.

Let me explain:

You can think of how $AMPL is to $FORTH in the same way as to how $DAI is to $MKR. Where $DAI is a stablecoin and $MKR is its governance token, $AMPL is an algorithmic stablecoin and $FORTH is its governance token.

It’s a similar correlation, right? Now get this.

The $DAI stablecoin was listed on Coinbase in May 2019 and it wasn’t until June 2020 that Coinbase listed $MKR. That’s more than a year in between listings and I think something similar will now happen for $AMPL.

Only this time, it can be the other way around (first governance token $FORTH, then rebasing currency $AMPL) because of the implications of the negative rebase which people won’t easily understand.

Lastly, $AMPL got a pass to Aave

A more immediate positive effect on $AMPL from the $FORTH listing is: the highly anticipated $AMPL on Aave proposal has finally met the required threshold to be put into on-chain voting.

The $AMPL on Aave proposal was on the voting pedestal since March 22, 2021, waiting for over a month to gather enough Proposition power to move onto Aave’s on-chain voting process.

Then, out of nowhere, the $FORTH token launched and got listed on Coinbase which became the catalyst that incited enough $AAVE holders to push the proposal through.

At this point, there’s not a doubt in my mind that we’ll be able to lend and borrow $AMPL on Aave very soon, which will mark a historical milestone for $AMPL, $AAVE, and DeFi as a whole.

Conclusion

All in all, things are really just getting started for $AMPL and the launch of its $FORTH governance token is the catalyst that’ll bring $AMPL into the DeFi spotlight.

For instance:

• It already indirectly influenced the $AMPL on Aave proposal to get passed to on-chain voting.
• It’s already helping to raise $AMPL awareness in DeFi by gaining so much traction on exchanges (let’s not forget about Coinbase Earn!)
• It will bring more people into $AMPL and enable people to steer the continued evolution of the Ampleforth ecosystem.
• $FORTH will further decentralize Ampleforth.