Ampleforth.org Airdrop Review: The FORTH token has arrived

About Ampleforth.org

Ampleforth.org is a cryptocurrency and economic constructing block. Much like Bitcoin, it’s far algorithmic and uncollateralized. However, not like Bitcoin, AMPL may be used to denominate strong contracts. The Ampleforth protocol interprets rate volatility into deliver volatility. This method the variety of AMPL tokens in person wallets routinely will increase or decreases primarily based totally on rate.

Ampleforth.org is airdropping their new governance token FORTH (67% of the overall deliver) to eligible airdrop participants. The picture became taken on March 30th, 2021. Users who’ve interacted with AMPL, Geyser participants, and customers who held AMPL for the duration of bad rebase durations are eligible to say loose FORTH tokens. FORTH is already tradable on Binance.

BasicDetails
Token NameAmpleforth.org
PlatformETH
Airdrop End2022-04-16
Max. ParticipantsUnlimited
KYCKYC Is Not requirement
WhitepaperClick Here To View
Total Supply15,000,000 FORTH
Collect AirdropClick Here To Collect Free Airdrop

How To Join Ampleforth.org Airdrop

First Step

Visit the Ampleforth airdrop claim page.

Second step

Connect your ETH wallet.

Third Step

If you’re eligible, then you will be able to claim free FORTH tokens.

Fourth Step

The snapshot was taken on March 30th, 2021.

Fifth Step

Users who’ve interacted with AMPL on-chain, Geyser participants and users that held AMPL during negative rebase periods are eligible to claim free FORTH tokens.

Six Step

Users have until April 16th, 2022, to claim the tokens.

Seven Step

After the above deadline, unclaimed tokens will be placed in a community governed DAO.

Eight Step

For more information regarding the airdrop, see this Medium article.

The FORTH token has arrived

FORTH is a new governance token that completes the AMPL ecosystem by putting control of the protocol in the hands of the community. Anyone who has interacted with the AMPL ecosystem on-chain is elligible to claim FORTH tokens.

AMPL is like Bitcoin except it can be used in contracts

AMPL is a cryptocurrency and financial building-block. Much like Bitcoin, it is algorithmic and uncollateralized. However unlike Bitcoin, AMPL can be used to denominate stable contracts.

How does the protocol work?

The Ampleforth protocol translates price-volatility into supply-volatility. This means the number of AMPL tokens in user wallets automatically increases or decreases based on price: These supply adjustments are called “Rebases” and rebases occur once each day. When the AMPL network grows you’ll automatically have more tokens, when the AMPL network shrinks you’ll automatically have fewer tokens, but the price per AMPL will tend to cycle around $1. This novel rebasing mechanism is what allows AMPL to be used in contracts.

What do we mean by Stable Contracts?

Let’s go through a simple example. Imagine Evan and Micah enter into a bet:

“If the Lakers make it to the 2022 NBA conference finals, Micah will pay Evan 10 coins. Otherwise, Evan will pay Micah 10 coins.”

They would not want to denominate this bet using Bitcoin, because Bitcoin’s price volatility makes for an unstable contract obligation.

AMPL vs Stablecoins Today

Often we’re asked: “If the number of tokens in my wallet can change, then isn’t AMPL still speculative and volatile? Why not use a stablecoin like Tether or DAI for contract denomination?”

The Answer: “Because the goal of the decentralized finance movement, is to create an alternative financial ecosystem, beyond the reach of politics.” Stablecoins today either rely on 1) traditional banks, or 2) lenders of last resort.

AMPL is an independent financial primitive that does not rely on centralized collateral or lenders of last resort. It’s like Bitcoin, except it can be used in contracts.

Supply Smoothing

The protocol sets supply targets algorithmically, and to avoid overcorrection it grades supply changes as though they will distribute uniformly over the course of k days. For example:

• if the exchange rate is 1.5 Amples : 1, the price difference can be offset by increasing each wal-let’s balance by 50%. Grading uniformly over k days, the protocol will increase wallet quantities by

50%/k on day zero.

• if the exchange rate is 0.5 Amples : 1, this price difference can be offset by decreasing each wal- let’s balance by −50%. Grading uniformly over k days, the protocol will update wallet quantities by

−50%/k on day zero. The supply change ∆i/k is recomputed and executed no more than once every 24 hours. This operation is stateless. Each day, the protocol recomputes the supply target based on the latest price difference, and executes as though the targeted change will occur uniformly over the next k days without any memory of the previous day’s supply change.

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