In my journey to building a full coin position of BTC I have made many discoveries, some intentional and others very accidental. I discovered Publish0x by accident, so coming across Ampleforth was even more fluky.
On December 22, 2022, I received my first Ampleforth reward. It was a small amount, but it felt good. My initial position was 1.61 AMPL. This week I was looking over my KuCoin account and noticed that the value of my AMPL had grown significantly. At first I thought it was just price appreciation, but when I dug around more deeply my position size had grown to 2.37 AMPL. It had more than doubled in slightly under three weeks.
Typically, with bonus, reward, or airdropped cryptocurrency I would swap it out for BTC to continue building towards my goal, but I am happy I did not because this rebasing is significant from a passive income standpoint. I would be ecstatic if my position is going to double on a monthly basis. Also, I will continue to be withdrawing from my Publish0x. In terms of absolute value, my tiny AMPL position is adding more to my portfolio than my $AXS and my $ALGO put together.
I don’t fully understand the mechanisms behind this growth, but it is something called a rebase. It happens automatically in my KuCoin wallet, and it seems to be currently rebasing at around a 3% increase daily. This has something to do with Ampleforth’s relationship with the stable coin SPOT. I don’t pretend to know what is happening, but I will continue to hold AMPL for as long as possible. When the position grows large enough I will funnel the daily rebase amount into BTC. If I can add $1 USDT of BTC daily it would be a huge aid in the journey towards a whole coin.
I am unsure how constant the rebase growth will be but I am happy to let it ride. If you have a good article about AMPL rebase, I would be interested in reading a bit more. As for now I will continue to let this thing do what it does.
If you are earning AMPL, consider holding it for the value it adds through its rebasing.
My KuCoin referral code is: https://www.kucoin.com/ucenter/signup?rcode=rM3Y31U
Remember, keep building.
As always you can join the conversation on Twitter @1BTCproject
And keep track of my crypto journal on my other blog - http://635ed752b3bfb.site123.me/
