Forth is a new governance token that completes the Ample ecosystem by putting control of the protocol in the hands of the community. Using the Forth token, holders will be able to vote on changes to the protocol. Together, $AMPL + $FORTH mark a major milestone in the protocol’s journey towards becoming fully decentralized.
AMPL's smart contract design allows the increase and decrease of supply to be automatically executed without any need for a transfer between peers, and without the need for a bank.
The monetary protocol automatically adjusts the supply of AMPL across all user wallets based on price. This means the number of AMPL you own changes based on market conditions. When price is high wallet balances automatically increase. When price is low wallet balances automatically decrease. This supply adjustment operation happens once per day and is called a rebase.
This daily rebase operation is applied universally and proportionally across every wallet’s balance. This means AMPL is non-dilutive. Like Bitcoin, if you own 1% of the overall network you will always own 1% unless you actively make a transfer.
15 million FORTH have been minted at genesis and are available to be claimed by the community, participants and key contributors. The initial supply will be available immediately, and future inflation will be set at 2 percent annually. Allocation of the FORTH token to the existing Ampleforth ecosystem will be as follows: 67% of FORTH to the AMPL community* 33% of FORTH to early backers (e.g., the core development team, advisors, supporters and the Ampleforth Foundation)