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Forthday By Ampleforth is Now LIVE!
Today, the Ampleforth community celebrated a significant achievement: the FORTH DAO officially went live!
What Is Forth Dao?
The FORTH DAO is a leaderless, decentralized, and autonomous organization that manages the Ampleforth protocol — as well as its supporting apps and treasury assets — in order to ensure that the ecosystem’s continuing growth and development can be supported and sustained.
With around $31.5 million under management as of today, the FORTH DAO has consistently ranked among the top 50 decentralized autonomous organizations in the world.
What Is Forth?
The FORTH token, is the governance token for the Ampleforth protocol and was created on April 16, 2021.
This operation would result in the transfer of all remaining FORTH tokens to the FORTH DAO, which would launch precisely one year after the transfer took place. As of April 16, this has happened, indicating that the FORTH DAO is now officially operational.
Why was Forth Dao Developed?
For the most part, the FORTH DAO was established to promote and assist the continued development and growth of elastic finance.
With a view toward providing a fully independent financial stack that exists independent of currency and fiat-reliant assets, as well as the inflationary pressures they face, it will manage governance for the expanding number of assets being constructed on top of the Ampleforth protocol.
The community votes
This community will be responsible for and vote on a number of important projects, among them:
- Protocol Owned Liquidity
- The Direction of emissions to liquidity pools
- The policy of an AMPL backed stablecoin
- Grants
The FORTH DAO is open to any and all FORTH holders that choose to participate.
If you would want to participate in the ongoing debate over the FORTH DAO’s charter, please visit Ampleforth’s governance forum, where the conversation is now taking place.
