Ampleforth (AMPL)
Ampleforth (AMPL), launched in June 2019, is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. It employs a rebasing system that adjusts the circulating supply daily. This mechanism aims to provide an alternative to central bank money that can adapt to economic shocks. The AMPL token is intended for use as collateral in decentralized financial systems and as an alternative base currency within the cryptocurrency sector.
Background
Ampleforth was co-founded by Evan Kuo, a University of California, Berkeley graduate and former CEO of Pythagoras Pizza, along with Brandon Illes, a former senior software engineer at Uber. The concept was inspired by a need for innovation in the cryptocurrency space, particularly in the areas of money and banking. The project drew inspiration from the Ducat, a theoretical currency proposed by economist and philosopher Friedrich Hayek. Ampleforth has secured funding from notable investors including Brian Armstrong, True Ventures, Pantera Capital, Founder Collective, Slow Ventures, FBG Capital, Huobi Capital, Spartan Capital, Nima Capital, and Skunk Capital.
| Ticker | AMPL |
| Category | Decentralized Finance (DeFi) |
| Website | https://www.ampleforth.org/ |
| @ampleforthorg | |
| Telegram | Ampleforth |
| Contract Addresses | |
|---|---|
| ethereum | 0xd4...61 Copied! |
| near-protocol | 77...arCopied! |
| harmony-shard-0 | 0xf2...05Copied! |
| avalanche | 0x02...a7Copied! |
| energi | 0x79...95Copied! |
| binance-smart-chain | 0xdb...7fCopied! |
Technology
Ampleforth is constructed on the ERC20 interface, allowing any digital wallet native to the chain to hold its token, AMPL. The platform's smart contract design facilitates automatic supply adjustments without requiring peer transfers or banking intermediaries. The protocol automatically modifies the supply across all user wallets holding AMPL tokens through a daily rebase operation, ensuring that the token remains non-dilutive. Additionally, Ampleforth's approach helps control the token's volatility while maintaining minimal governance and non-custodial ownership, meaning ownership is tracked directly on the blockchain.
Geyser
In July 2020, Ampleforth launched Geyser, its first smart faucet, to promote on-chain liquidity via Uniswap. Geyser allows users to stake their tokens through Ampleforth's web interface and their Ethereum wallet. This process is managed through Uniswap, a DeFi service that enables users to retain control of their crypto assets. Uniswap was selected for its ability to support Ampleforth's unique elastic supply mechanism. Certik, a blockchain auditing company, has approved Geyser, providing a 98% passing score. Nexus Mutual offers insurance coverage for users of the project. Since its launch, the ETH-AMPL pair has become a leading pair on Uniswap in terms of 24-hour liquidity and volume.
Smart Pool
On September 15, 2020, Ampleforth partnered with Balancer to launch a rebasing Smart Pool that adjusts pool weights to minimize the risk of impermanent loss for traders. As AMPL's supply changes every 24 hours, the USDC-AMPL Balancer Smart Pool automatically adjusts pool ratios to eliminate impermanent loss associated with supply changes. Benefits of the pool include non-collateralized loans, a non-fixed supply, price targets, and automatic supply rebasing.
Team
The Ampleforth team consists of co-founders Evan Kuo and Brandon Illes, along with team members Ahmed Naguib Aly, Nithin Krishna, Jessica Yen (branding), Richy Qiao (business management), and Simon Manka (growth). The advisory board includes Joey Krug, Samuel Lessin, Niall Ferguson, Noah Jessop, Paul Veradittakit, and Manuel Rincon Cruz.
Investors
Ampleforth has garnered investment from several notable entities, including True Ventures, Pantera Capital, Founder Collective, Slow Ventures, Brian Armstrong, FBG Capital, Huobi Capital, Spartan Group, Nima Capital, and Skunk Capital.