$AMPL holders can now claim free $FORTH governance tokens

By Qryqtx | The ecosystem of Q | 21 Apr 2021

Publish0x authors and readers alike are well aware of the Ampleforth token, abbreviated as $AMPL, which provides an elastic supply depending on current market demand. The DeFi token is deeply integrated into the Publish0x ecosystem and has been available for tipping authors submitting posts to the publishing platform for months by now. Ampleforth has however long been planning to include a governance token to support its initiatives and the associated token $FORTH was finally released earlier today. This means that more than 75K $AMPL holders, who have previously interacted with the Ampleforth protocol, can claim free $FORTH tokens on the website by connecting the wallet(s) in which their $AMPL tokens has been or are currently held. Previous holders can as such also participate although active holders will be receiving a larger quantity than those who have previously held $AMPL tokens but have since disposed of them by various means. In addition to this, the offering will continue until the same date next year whereby 2/3 of the token pool will have been distributed. There's a such plenty of time to retrieve any $FORTH tokens until then.

$Forth token - wallet connect

As with many governance tokens, new as old, $FORTH has been trading at very high values during the initial couple of hours although it's also showing significant volatility as a result. Currently the $FORTH trading price is approx. $34 on Uniswap having a $FORTH/$ETH pair available although this is likely to change much over the next couple of days because of high trading volume that comes from being listed for the first time.

Select a wallet

When choosing a wallet amongst the available options on the website, you'll receive information on how much $FORTH your eligible to receive and can withdraw. Personally, I've had 5.7908 $AMPL in my Trust Wallet from Publish0x tips before I started publishing and I used WalletConnect as option to which the transaction went through smoothly. There appears to be issues with a few of the other wallets though - most likely due to high load as there's significant interest and high traffic on the website currently which is to be expected when an offering like this becomes available to such a large group of investors.

Claim now

The amount of $FORTH tokens you're eligible to receive will obviously depend on the amount of $AMPL tokens you've held or currenthly have at your disposition. I've been eligible to claim 159.96 $FORTH tokens as can be seen on the screen shot, which compared to the current token value is a quite substantial amount when converted to USD. The ratio in this case has as such been a bit over 27½ $FORTH tokens for every $AMPL token. As Ampleforth is Ethereum-based there's the downside of high $ETH gas fees required for withdrawals from the $FORTH offering. This should be taken into consideration before attempting to withdraw anything, and it's thus important to review any associated fees beforehand.

Overall, governance tokens are always a benefit for holders of tokens and as such Ampleforth has brought governance to its supporters with this latest offering that judging by the high interest appears to be well received.

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Freelance writer with a significant interest in cryptocurrencies and new technologies.

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