About Ampleforth Governance Token (FORTH)
Ampleforth is a stablecoin platform running on Ethereum that supposedly incentivizes users to maintain the value of its stablecoin to the value of the US dollar. According to Ampleforth, most stablecoins use a value-backing system to maintain the value of a crypto asset. To do this, stablecoin platforms require a centralized financial institution to manage and store the crypto asset-baking assets. Ampleforth uses an algorithm called "rebasing" to match the US dollar price with the supply of its stablecoin, AMPL token. Tokens are either minted or burned to meet the required value, eliminating the need for a centralized third-party financial institution to manage assets.
Governance of the Ampleforth ecosystem is done with the $FORTH token. Ampleforth is an ERC-20 token compatible with the Ethereum Network and uses Proof-of-Stake consensus since the Ethereum Merge.Ā
The Forth DAO is a decentralized autonomous organization concerned with the adoption and expansion of the project's stablecoin. Attempts at expansion are made through ecosystem development, marketing, and protocol-owned liquidity initiatives. FORTH allows DAO members to direct the use of DAO treasury assets, direct liquidity mining emissions, and parameter changes in the protocol.
Holding FORTH provides users with membership to the Forth DAO. FORTH empowers DAO members to submit proposals on-chain to be voted on and the ability to vote on said proposals. Governance of Ampleforth is structured into six stages, outlining a specific process a proposal must go through to be considered for a vote.Ā
The current price of FORTH coin is available and live-tracked on Binance.