🥸 Let's start with something light and curious... Ampleforth is also the name of a character in George Orwell's 1984 novel who is responsible for the translation into Newspeak (a language designed to limit freedom of thought) of all literary texts written in archeolanguage. When instructed to replace the word "God" in a Kipling poem, Ampleforth refuses, not out of righteousness or subversion, but rather out of pure love of language and respect for truth. For Ampleforth, no other word makes sense in the context and therefore no other word should replace it. He is then sentenced to death and sent to Room 101...
🗽 Foundation date
Ampleforth (AMPL) was founded in 2017 by American engineers and entrepreneurs Evan Kuo and Brandon Iles.
⛓ Type of Blockchain
Ampleforth is a protocol whose rules are encoded in smart contracts on Ethereum. AMPL implements the ERC-20 interface and can be used with any native Blockchain wallet. Rules-based policies allow for predictable actions and measurable responses and are effective controls against discretionary monetary policies. The total supply varies daily based on demand. When the price is high, the wallet balances increase. When the price is low, the wallet balances decrease.
These adjustments are applied universally and proportionally to the balance of each wallet, meaning that the percentage of each user owned by the network remains fixed. At a high level Ampleforth propagates price information in the supply by reacting to nominal exchange rate information, achieving this by actively seeking a price-offer balance. If you own 1% of the network, you always have 1%. No parts extract value and there are no additional transaction costs. AMPL was designed to minimize the need for governance. There is no governance in the supply adjustment cycle because there are no interest rates to adjust or markets to balance.
💰How to get the best from AMPL (not financial advice)AMPL is ideal for the following short, medium and long-term use cases:
- in the short term as an asset to diversify Cryptocurrency portfolios
- in the medium term as a reserve guarantee in decentralized banks
- in the long term, an alternative to central bank money adaptable to shocks
Like precious metals, fixed supply cryptocurrencies are vulnerable to sudden demand shocks and consequently, sophisticated economies cannot be built on them. AMPL is the simplest direct solution to the problem of supply inelasticity. Its standard interface allows AMPL to integrate with many DeFi application platforms. In July 2019 Ampleforth entered into a partnership with Compound Finance, which will assist Ampleforth in the development of cAMPL, a new version of the AMPL tokens. This will increase liquidity options for AMPLs and make them work in a decentralized manner, giving AMPL investors the additional ability to borrow Compound-backed assets. After developing the integration, Compound users will have the opportunity to approve AMPL as a supported resource in the next community vote. In October 2019, Ampleforth began a collaboration with Certik, a leader in Blockchain cybersecurity and pioneer of formal verification for smart contracts. CertiK will act as another source of security and data for Ampleforth's pricing oracle. This will help ensure that Ampleforth's Unit Price Feed (AMPL) is secure, reliable and not overly dependent on a single data source.
⛏ Mining
Ampleforth cannot be mined. A total supply has not been set, as it is automatically adjusted based on demand. The tokens will be distributed as follows:
- 23.2% to the ecosystem
- 18.5% to seed investors such as True, Pantera, Founders Collective, FBG, Brian Armstrong and Slow Ventures
- 3.3% to “Serie A” investors such as Huobi Capital, Nima, Skunk, Slow and Spartan
- 10% through IEO
- 25% to teams and advisors
- 20% to Treasury.
🙋♂️Team
Ampleforth is developed by Ampleforth, a privately held company based in San Francisco, California. The most relevant member of the team is co-founder Evan Kuo, a lover of art and mathematics. He was previously the CEO of Pythagoras Pizza and Product Manager at Yahoo. He has extensive experience in developing predictive auction products and working with venture capital. Evan earned a Bachelor of Science degree from UC Berkeley, where he studied a mix of Mechatronics, Robotics and Automation Engineering.
📊PRICE RANGE: $ 1.9 at listing, peaking at $ 4 in July 2020.
MAIN QUOTATION EXCHANGES: Ampleforth is listed on all major stock exchanges, with a position on Coinmarketcap oscillating between the fiftieth and one hundredth place of the most capitalized coins
