Ampleforth Governanc... FORTH Price

What is Ampleforth Governance Token (FORTH)?

Ampleforth Governance Token (FORTH) is the governance token for the Ampleforth protocol, a decentralized monetary system designed to offer a non-pegged cryptocurrency that automatically adjusts its supply based on demand. The primary objective of FORTH is to empower the community by providing voting rights on key protocol decisions, such as upgrades, fee structures, and other governance-related matters. Launched in April 2021, FORTH plays a crucial role in maintaining the protocol's decentralized nature while allowing token holders to participate actively in its evolution.

Who are the Founders of Ampleforth Governance Token?

The Ampleforth project was co-founded by Evan Kuo and his team. Evan Kuo has a background in computer science and has previously worked in various startups and as a product manager. The team behind Ampleforth comprises experts from various fields, including finance, economics, and blockchain technology, aiming to create a new form of money that can better adapt to market conditions compared to traditional cryptocurrencies.

How does Ampleforth Governance Token Work?

Ampleforth operates on the principle of algorithmic supply adjustment, which means that the supply of the Ampleforth token (AMPL) expands or contracts daily based on demand. This mechanism is known as "elastic supply." The FORTH token allows holders to vote on governance proposals that influence the protocol's future. Key aspects of its functionality include:

• Supply Adjustment: The Ampleforth protocol adjusts the total supply of AMPL every 24 hours based on price; if the price is above $1, the supply increases, and if it is below $1, the supply decreases.
• Governance Participation: FORTH holders can propose and vote on changes to the protocol, such as new features or governance rules.
• Decentralized Finance (DeFi) Integration: FORTH can be used in various DeFi applications, allowing users to participate in liquidity pools, yield farming, and other financial activities.

Top Use Cases of Ampleforth Governance Token

FORTH has several key use cases within the Ampleforth ecosystem:

• Governance: FORTH token holders can vote on proposals that affect the Ampleforth protocol, such as changes in tokenomics, protocol upgrades, and partnerships.
• Staking: Users can stake their FORTH tokens to earn rewards, contributing to network security and governance.
• Liquidity Provision: FORTH can be provided as liquidity on decentralized exchanges (DEXs), helping facilitate trading and earning transaction fees.
• Incentivizing Participation: The token incentivizes community involvement, encouraging users to engage with the protocol and contribute to its development.

How to Keep your Ampleforth Governance Token Safe?

Securing your Ampleforth Governance Token (FORTH) is crucial in the cryptocurrency space. Here are some best practices:

• Use Hardware Wallets: Consider using hardware wallets like Ledger or Trezor for offline storage, which provides enhanced security against hacks.
• Enable Two-Factor Authentication (2FA): Always enable 2FA on any exchange or wallet service you use to add an extra layer of security.
• Be Wary of Phishing: Always verify URLs and avoid clicking on suspicious links to protect against phishing attacks.
• Keep Software Updated: Ensure that your wallet and any software you use are regularly updated to protect against vulnerabilities.
• Backup Your Wallet: Regularly back up your wallet’s recovery phrase and store it in a secure location.