| General information | |
|---|---|
| Global rank: | 594 |
| Name: |
Ampleforth Governance Token |
| Symbol: | FORTH |
| Current coin price (MGA): | 13 551.55 Ar |
| Last hour: | arrow_upward1.17 % |
| Last 24 hours: | arrow_downward-4.84 % |
| Last 7 days: | -3.96 %trending_down |
| Capitalisation (MGA): | 193 293 191 318.90 Ar |
| Volume 24h (MGA): | 4 358 177 162.55 Ar |
| Available supply: | 14 263 553.00 FORTH |
| Total coin supply: | -1 FORTH |
| Start date: | 2021-04-20 |
Ampleforth Governance Token/Malagasy Ariary (FORTH/MGA) price chart
Ampleforth Governance Token/Malagasy Ariary (FORTH/MGA) capitalisation and volume charts
FORTH is the governance token associated with the Ampleforth protocol. Ampleforth is a decentralized finance (DeFi) protocol aiming to create a more adaptive financial ecosystem. It offers a unique synthetic commodity money—AMPL—that automatically adjusts its supply based on market demand. Unlike traditional stablecoins, which are pegged to external assets like USD, AMPL is programmed to be a stable medium of exchange that isn't pegged to any asset. The introduction of the FORTH token serves to decentralize the governance of the protocol’s smart contracts and the Ampleforth ecosystem as a whole.
The primary role of the FORTH token is governance. By holding FORTH, individuals can participate in the decision-making process of the Ampleforth protocol. This includes proposing, discussing, and voting on various changes to the protocol, such as modifications to the supply adjustment algorithm, oracle selection, and other parameters. Essentially, the FORTH token empowers community members to actively shape the development and functioning of the Ampleforth protocol.
What makes Ampleforth unique is its dynamic supply adjustment mechanism. Programmed into its smart contracts, this feature seeks to provide a more stable and robust medium of exchange. By introducing FORTH for decentralized governance, Ampleforth is taking a significant step in making the protocol more community-driven and resilient.
The Ampleforth protocol and its FORTH governance token were initiated by a team led by Evan Kuo, who serves as the CEO and is a co-founder, and Brandon Iles, the CTO and another co-founder. They have been supported by a diverse array of advisors and contributors from both the cryptocurrency landscape and the broader tech industry.