Ampleforth (AMPL)

 

Like Bitcoin and gold, Ampleforth (AMPL) is a digital asset designed to function as a synthetic commodity. The project's name is derived from a figure in 1984 by George Orwell.

Ampleforth was created by Brandon Iles and Evan Kuo with the intention of addressing some of the drawbacks associated with assets in the cryptocurrency market, particularly their tendency toward volatility. The network employs a novel price-supply equilibrium algorithm that considers both price and supply to arrive at an equilibrium that modifies a holder's supply but not the token's price.

Although this may imply that Amples are stablecoins with a constant value, this is untrue. The whitepaper from Ampleforth describes how new token price baselines are attained gradually. The fundamental tenet of this concept is that Ampleforth token supply grows or contracts in response to demand. According to the researchers, this creates countercyclical pressure and maintains price stability over the long term.

The team claims that Ampleforth's technical architecture will support medium- and long-term uses of serving as reserve collateral in decentralized banks and acting as an alternative to central bank money, in addition to the short-term use as a synthetic commodity digital asset. However, Ampleforth's resistance to volatility is just one of the benefits of this architecture.

Numerous members of the project's crew have graduated from Yale and Berkeley and have worked for some of Silicon Valley's largest corporations, such as Google and Uber.

Find out more about Ampleforth (AMPL) here, along with news, analyst forecasts, user views, and analysis.