I occasionally write for a crypto-themed website called Publish0x and for about two years, writers have been said in something called Ampleforth (AMPL).
Soon we’ll bid goodbye to AMPL, long overdue if you ask me, and this is a good time as any to talk about what AMPL is and does.
What is Ampleforth? I’d never heard of it until I discovered Publish0x.
The first thing I thought when I first learnt about the existence of Ampleforth was, “that’s a cool name”.
It sounds like a castle in Scotland, or an old liqueur. “Yeah, I’ll have an Ampleforth and Tonic, please”.
Ampleforth is a stablecoin, sort of, and the supply of AMPL is adjusted daily (by a software) to keep its value correlated to the U.S. Dollar.
According to their whitepaper, Ampleforth utilises supply volatility to make sure the price remains stable.
They also say it’s “much like bitcoin, algorithmic and uncollateralised”. Well, yes, maybe, except for the fact that bitcoin is volatile.
They also say that unlike bitcoin it supports stable contracts.
A couple of years ago, Ampleforth said it wanted to launch elastic AMM (Automated Market Makers), then AMPL will be available for lending and borrowing – on-chain – and then, it’ll eventually be supported on on cross-chain bridge.
To be honest I don’t really understand why they compare it to BTC, I don’t see any similarities but maybe that’s just me.
I no longer hold any AMPL. I accrued perhaps around $40-50 worth of AMPL writing here but got rid of a long time ago.
UPDATE: After writing this article (before publishing) I googled Ampleforth images and found it is also the name of a village in England.
Go figure.
I’ve crossposted this article Publish0x, a social media platform that pays you to create and/or read content. You need to sign up but it’s 100% free.
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