Ampleforth AMPL

What Is Ampleforth (AMPL)?

Ample token (AMPL) is a rebase token that runs on the Ampleforth protocol and is based on an ERC-20 token standard. It employs an elastic supply protocol that automatically adjusts the circulating AMPL supply based on Ampleforth price fluctuations. The aim of this protocol is to keep the AMPL price around $1.

Ampleforth employs a network of oracles that provide the price data needed to determine how the circulating supply should be altered. How exactly does it work? In essence, when it is detected that the AMPL price got too low, the supply gets decreased. However, when the AMPL price gets too high, the supply is increased. Besides, AMPL rebasing happens daily.

Now, it sounds like Ampleforth is a stablecoin. Though it isn’t since its value is not pegged to the US Dollar or any other fiat currency. However, to keep the AMPL price stable, it has a price target that tracks the 2019 US Dollar rate. Thus, in consideration of inflation, the AMPL token is a safer alternative to stablecoins.

The AMPL coin is also unique because instead of owning a certain number of tokens, AMPL holders own a fixed portion of the circulating supply. Thus, whenever the circulating supply shifts, the wallet balance of AMPL holders is shifted as well. Though note that the portion of AMPL supply held by the user remains the same.

There are three main ways that the Ampleforth coins can be used:

• As a non-correlated asset in crypto portfolios
• As a reserve asset for DeFi applications
• As an alternative to fiat money

Besides, with the help of Uniswap, Ampleforth released the Geyser, which is a smart faucet that rewards users with AMPL tokens for providing on-chain liquidity.

The Founder of Ampleforth

The Ampleforth crypto project was co-founded by Evan Kuo and Brandon Iles.

Evan Kuo is the CEO of Ampleforth. He has a degree in mechatronics, robotics, and automation engineering. Prior to co-founding Ampleforth, Kuo worked as a product manager at Yahoo and as a vice president of product development at Sharethrough. Besides, he also founded Crowdrally and Easy As Pi.

Brandon Iles has a degree in computer science. Before co-founding Ampleforth, he worked as a software engineer at such companies as Language Computer Corporation, ESI, Google, and Uber.

Tokenomics of AMPL

Since AMPL tokens have an elastic supply, there’s no max supply set. Though, unlike other crypto assets without a max supply, the AMPL token is not inflationary because its price stays close to $1, and it’s intended to keep it that way.

Initially, 50 million Ampleforth tokens were launched. 10% of that supply was dedicated to an initial exchange offering (IEO) held on Tokinex, which lasted only 11 seconds until everything was sold out. 21,8% was dedicated to seed and series A investors. The remaining portion was distributed between the Ampleforth ecosystem, team, advisors, and the treasury.