Ampleforth
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Ampleforth in numbers
Ampleforth (AMPL) ranks #457 by market capitalization, at $36.38M. It belongs to the Stablecoins sector (Algorithmic Stablecoin). It has traded since Jun 27, 2019, across 111 markets on 5 exchanges, with $55.90 of volume in the last 24 hours. Its all-time high of $4.06 was reached on Jul 12, 2020; the current price is 69.2% below that peak. Its cycle low of $0.362158 came on Nov 12, 2021.
1.85M AMPL are in circulation. 11 investors are recorded as backers, including Coinbase Ventures, Spartan Group, Pantera Capital. 2 team members are listed. It is available on 5 networks.
About Ampleforth
Ampleforth is a decentralized finance infrastructure provider specializing in elastic finance ecosystems. It offers foundational elements for a new digital economy through its native AMPL token, FORTH governance token, and the SPOT inflation-resistant store of value token.
Background
Ampleforth is a cryptocurrency that aims for algorithmically stabilized purchasing power through a fluctuating monetary supply. Instead of explicitly stabilizing price around $1 like many stablecoins, Ampleforth aims for purchasing power stability by altering the supply based on the demand for Ample tokens. If the price goes above a specified range the protocol will issue more tokens and if the price drops below that range the supply will decrease. Supply changes affect all wallets equally and occur every day at 1:00pm EST creating an arbitrage opportunity at that point in time. These dynamics ensure that if you own 1% of the network and supply shifts you will still own 1% of the network since all wallets fluctuate by the same proportion.
The supply dynamics are intended to create an asset with a unique volatility profile that remains uncorrelated to other asset classes. It is initially pegged to $1 USD, however not into perpetuity as it's fixed to one 2019 US dollar since the protocol is ingesting Consumer Price Index data to take into account future inflation.