Coinbase Pro listed Ampleforth’s token FORTH on its platform
Smart commodity money protocol, Ampleforth, launched its new governance token FORTH, which rapidly garnered investors’ attention. Today Coinbase Pro announced that it plans to list the new FORTH tokens.
Ampleforth also has a native token AMPL. But the latter isn’t listed on Coinbase, likely due to conflicts of interest with the platform’s own stablecoin, USDC. Coinbase underlined that it doesn’t offer AMPL for trading, and FORTH is a separate token. Furthermore, the exchange stated that once there is a sufficient supply of FORTH on the platform, investors will be able to trade on FORTH/USD, FORTH/BTC, FORTH/EUR, and FORTH/GBP pairs.
Ampleforth also spoke about the launch of the FORTH token. The company noted that it would distribute the tokens to the protocol’s users through a points system. Besides, the new token will provide the mechanism to enable the community to vote on parameter changes to the core AMPL protocol. It will help to decentralize Ampleforth further.
According to the company, AMPL represents an independent currency functioning as a unit of account, while FORTH is the governing mechanism overseeing its evolution.
The deflationary token offers incentives to all network participants. A total of 15 million FORTH became minted at the genesis event. The distribution plan is the following: 67% of FORTH will go to the community. The remaining 33% will go to early backers, advisors, the core development team, supporters, and lastly, the Ampleforth Foundation.
Ampleforth declared that such distribution would enable those investors who supported the network long-term to accrue the most points, or in this case, tokens. More than 75,000 users would be eligible to receive FORTH. They will simultaneously become founding members of Ampleforth’s governing body.
What is Ampleforth?
Ampleforth is a smart commodity money protocol launched in 2018. It provides an elastic supply stablecoin aiming to be loosely pegged to the USD. The protocol branched off from Ethereum in December 2020 to offer multi-chain compatibility with integration into Polkadot, NEAR, and Tron.
Currently, AMPL is trading at $1.32, while FORTH is hovering around $54. The FORTH is the company’s first step in decentralizing the decision-making process.
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