Ampleforth, the rebasing token which aims to create a currency with stable purchasing power by programmatically managing supply, has launched its FORTH governance token. Anyone who has interacted with AMPL, the stable token, can claim FORTH tokens.
The token, which was listed on Coinbase Pro Wednesday, is trading at $41 at the time of writing, up 23% in the last 24 hours. Some users on Twitter are reporting claiming over $10K worth of the token whose market capitalization of $234M ranks at 229 despite launching barely over a day ago.
The FORTH tokens will be used for binding on-chain decisions after an onboarding period. Ampleforth will base its governance model on Compound Finance’s and will include the option to delegate voting rights.
67% of the initial 15M supply will be distributed to the Ampleforth community with the remaining tokens going to the development team, advisors, and supporters of the Ampleforth Foundation who are subject to a linear 2-year lock up period. The token will maintain a 2% inflationary schedule.