I guess this is part two to the best month of my crypto life :)
Earlier I wrote an article about how Alien Worlds made me rich, I made a pretty penny selling my TLM. But yesterday I was shook when I started to read things about this so called "FORTH" token.
Backstory on what FORTH actually is.
With some blockchains the users are able to vote on what additions or changes are made to the blockchain. A fair way to do this is by given people who own a percentage of their token the same percentage of voting power. However what Ampleforth did was create a whole token for this. It is called a Governance token. What it does is whomever holds the FORTH token is able to vote on changes to the blockchain. If you hold more FORTH your vote holds more weight. If you are invested in a blockchain holding a lot of the governance power means a lot.
Ampleforth decided that they would take a snapshot on March 30th of their blockchain and which ever wallets were holding Ampleforth on that day would get some FORTH. There are 15 million FORTH tokens at 'launch', with it increasing % each year. 67% of the FORTH tokens when to the people holding Ampleforth while the remaining 33% went to early backers and the development team.
How do we get FORTH?
Well there is a really easy way to check to see if you are entitled to receive FORTH. Go here https://www.ampleforth.org/governance/claim/
Once you are there you will need to connect your wallet that you hold your Ampleforth in. Once you connect your wallet it will show you how many FORTH tokens you are eligible to receive. You can withdraw your FORTH to your wallet but keep in mind that you will need some Ethereum in that same wallet to pay for gas fees.
There are 75,743 eligible users who can claim FORTH tokens. Everyone has 1 year to claim their tokens. All unclaimed FORTH tokens after the year (April 22nd, 2022) will be collected and put into a community-governed DAO.
What to do with FORTH?
Once you have some FORTH in your wallet you may wonder what to do with it. Well you have 3 options really.
Option 1: Sell it and make some money money money! At the time of writing 1 FORTH is worth $36.93
Option 2: HODL it and see if the price rises and then sell high.
Option 3: HODL it to actually vote on Ampleforth governance.
The price flucuated a little but is staying around the $35-$45 range.
My experience with FORTH
When I checked the site I saw that I was eligible to redeem 143 FORTH tokens. at the time they were worth roughly $44. I withdrew them immediately (thankfully I had extra ETH laying around). I then used UniSwap to exchange them into Ethereum. I walked away with roughly $6,280 worth of Ethereum thanks to the FORTH airdrop.
While I never really liked Ampleforth I have nothing truly against it. But when the option came up to make free money I couldn't resist. I started the day $6,000 poorer and so who wouldn't take that payday?
I do know that some where not so lucky. Some people withdrew their Ampleforth into exchanges or were holding their Ampleforth in exchanges on March 30th and they didn't get any. It sucks but at the same time it should be common knowledge to now hold your funds at exchanges for numerous reason and now this is one of them.
I have gone into the crypto world without paying a cent. All this 'money' is free money for my time and effort. So to see this popup randomly without any warning was incredible. I only hope that you all have the same luck as I did and can make some money off of this.