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About Ampleforth
Key Points
- Ampleforth (AMPL) is an Ethereum-based cryptocurrency with an algorithmically adjusted circulating supply.
- The supply adjusts daily based on price, increasing if above $1.06 and decreasing if below $0.96.
- Token holders own a fixed fraction of the total supply, not a fixed number of tokens.
- The goal is to create incentives to drive the market price back to ~$1.
Founders and Team
- Founded by Evan Kuo, an experienced product manager and serial entrepreneur.
- Kuo is the CEO of the Ampleforth Foundation, which has a team of around a dozen
About Ampleforth: A Pioneering DeFi Protocol
Introducing Ampleforth (AMPL): A Novel Cryptocurrency
Ampleforth is an Ethereum-based cryptocurrency that boasts an innovative, algorithmically adjusted circulating supply. Conceived as the foundation of a novel decentralized economy, it seeks to provide a reliable store of value, impervious to the erosive effects of supply inflation and decoupled from the price volatility of other cryptocurrencies, including Bitcoin (BTC).
In the Ampleforth ecosystem, token holders possess a fixed proportion of the total AMPL circulating supply, rather than a predetermined quantity of tokens. When the protocol detects that the price of AMPL has deviated from equilibrium, it dynamically adjusts the circulating supply, increasing it when the price is too high and decreasing it when the price is too low, thereby maintaining a delicate balance.
This adjustment is disseminated to all Ampleforth wallets, whereupon each wallet’s balance is proportionally recalibrated. Notwithstanding this modification, the percentage of the token supply held by AMPL holders remains unchanged.
This automated supply adjustment mechanism, referred to as a “rebase,” takes place on a daily basis. A positive rebase is triggered when the price surpasses $1.06, while a negative rebase occurs when it falls below $0.96. The overarching objective of this system is to create incentives that drive the market price of AMPL back to a stable equilibrium of approximately $1.
The Visionaries Behind Ampleforth: Meet the Founders
Ampleforth was founded by Evan Kuo, a seasoned product manager and serial entrepreneur, who holds a Bachelor of Science (BS) degree in Mechatronics, Robotics, and Automation Engineering from the prestigious University of California, Berkeley.
Kuo, an individual with a unique blend of artistic and mathematical inclinations, brings a wealth of experience in developing predictive auction products to the table. Notably, he has held the reins as CEO at Pythagoras Pizza, a San Francisco-based pizza delivery service, before assuming the role of CEO at the Ampleforth Foundation, the pioneering development and management firm driving the innovative Ampleforth protocol.
Besides Kuo, the Ampleforth Foundation’s team is predominantly comprised of engineers, including Brandon Iles, a seasoned senior software engineer with a background at Uber and Google, who also serves as the project’s co-founder. According to its LinkedIn profile, Ampleforth’s team currently consists of just over a dozen members, with the overwhelming majority based in the San Francisco Bay Area.
Unveiling the Unparalleled Characteristics of Ampleforth
Ampleforth stands out for its ambitious goal of creating a genuinely non-correlated asset, poised to diversify cryptocurrency portfolios, serve as a reliable reserve collateral for decentralized finance (DeFi) applications, and ultimately, emerge as a shock-resistant alternative to traditional central-bank money.
Ampleforth pioneers a novel approach, wherein the circulating supply dynamically adjusts to consumer demand, sans dilution of individual stakes. This distinctive property, Ampleforth posits, renders it an ideal candidate to serve as a novel base currency for the digital economy, much like gold once underpinned various fiat currencies prior to the demise of the Bretton Woods agreement.
Notably, the Ampleforth supply remains impervious to the erosive effects of inflation and other dilutive factors, thereby distinguishing itself as a unique asset capable of preserving its purchasing power against other assets. This characteristic renders it an attractive hedge and a viable alternative to fiat currencies plagued by rampant devaluation.
What Is the Circulating Supply of Ampleforth (AMPL) Coins?
In stark contrast to the overwhelming majority of cryptocurrencies, Ampleforth boasts a unique characteristic: it does not adhere to a fixed minimum or maximum supply. Rather, the circulating supply of AMPL tokens will perpetually expand if the price remains above the $1 threshold, whereas it will conversely contract if it falls below this benchmark.
Besides securing multiple private investment rounds, Ampleforth successfully raised $4.9 million through an initial exchange offering (IEO) on Tokinex, during which AMPL tokens were sold at a price point of $0.98 per unit.
Ampleforth debuted with a circulating supply of 50 million tokens, which were allocated as follows: 23.2% was designated for the ecosystem, 18.5% was reserved for seed investors, 3.3% was allotted to series A investors, 10% was allocated to Tokinex IEO participants, 25% was reserved for the Ampleforth team and advisors, and 20% was set aside for the treasury, as disclosed in the original transparency report.
According to a recent report (August 2020), a significant shift has occurred in the supply distribution, with approximately 42.5% of AMPL now being held by the community, while 23.5% has been allocated to liquidity mining programs.
The Ampleforth Network’s Security Mechanisms: A Robust Framework
As an ERC-20 token, Ampleforth leverages the robust foundation of the Ethereum blockchain, thereby inheriting the unparalleled security and strength afforded by its vast network of nodes and miners.
Beyond this, the integrity of the Ampleforth network is upheld by a decentralized constellation of oracles, which serve as the conduit for feeding in price data that informs the determination of whether a positive or negative rebase is warranted.
Prior to December 2019, Ampleforth held the distinction of being the sole oracle provider utilized for sourcing market data. However, it has since diversified its approach by incorporating Chainlink oracles, thereby mitigating the risks associated with centralized oracle data. Currently, the rebase function’s underlying logic leverages data aggregated from multiple sources.
Where to Acquire Ampleforth (AMPL): A Comprehensive Guide
Ampleforth tokens, colloquially referred to as amples, can be acquired and exchanged on numerous cryptocurrency platforms, with pairings against both alternative digital currencies and traditional fiat assets. Currently, KuCoin stands out as the premier centralized exchange for AMPL, while Uniswap takes the lead as the most prominent decentralized exchange for AMPL.
For those seeking to acquire AMPL or other digital currencies using a credit or debit card, our straightforward guide is the perfect place to begin.
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