Ampleforth: Is it Time for Algorithmic Stablecoins to Make or Break it?!

Ampleforth: Is it Time for Algorithmic Stablecoins to Make or Break it?!

By Cje95 | Chronic Illness and Crypto | 8 Oct 2021


I will be the first to admit I have a love-hate relationship with Ampleforth. I love the idea behind it I believe it could work and work well however I currently feel like this coin is stuck in a rut right now and I am not sure exactly how or what is going to get it kickstarted. While some people who are not huge fans of a coin/token will let them sit here on Publish0x until a coin change comes because AMPL is designed to be worth $1 I currently withdraw every other week and sell the AMPL I receive for $1.02 on KuCoin in USDT. Then I leverage its versatility into whatever crypto I am investing in.

 

Before I continue please know to always do your own research as I am not a financial advisor. The biggest rule I anchor myself to with crypto is I am never going to invest more than what I can lose. With that said back to what I was discussing.

 

With the debt ceiling crisis averted for now and honestly tied to Congressional Budget Reconciliation which is going to spend a couple of trillion USD no matter what inflation has been a reoccurring warning we have been hearing in committee hearings on the Hill. One thing I am not sure people are aware of that is exacerbating the issue worldwide is the still ongoing supply chain disruptions. These bottlenecks, some of which were known about and some that were not, are cranking up the prices of goods from food to copper and everywhere in between. 

 

Enter AMPL the algorithmic stablecoin. Designed to keep the price peg of $1.02 by adding or subtracting to the supply its purpose is to keep everyone's slice of the pie the same. This means that it can combat inflation by not affecting your purchasing power! If it is able to pull this off as inflation has been rapidly rising in recent months it could cause a huge boom for FORTH its governance token!

 

FORTH was airdropped to those of us that actually were withdrawing it from when it was first added as a tipping token. I honestly feel kinda smart because I sent mine to two different locations, my MetaMask like a lot of people were doing, and my cold wallet. Now before anyone says anything about how that was a super smart move or anything know it was done by pure mistake and I did not know that a governance token was even in the cards. Pure dumb luck that made me feel super super smart! 

 

Now like the idiot I am most of the time I held roughly 1/2 to 1/3 of the FORTH tokens I received and so I currently have quite a few..... I have also ridden FORTH from the price in the $50's when I received the tokens to the mid-teens where it is now. If AMPL though could break out and shine as a combat to inflation though it could really attack the project a ton of attention. This attention in turn should in theory drive the price back up! Heck if FORTH could go back up to at least $25 I would be thrilled and might liquidate my remaining balance. 

 

This elastic coin and its governance token were designed and made for this very situation. This could really be a fantastic time for the project to explode forward with momentum. It would separate itself from all of the normal stablecoins like DAI, USDT, or USDC by keeping its purchasing power and that is what in my eyes could make or break the project! 

 

Stablecoins continue to play a key role in crypto trades so the ability to hold their value is going to be just as critical. This is where AMPL can beat the rest and therefore launch FORTH forward so it can reach its full potential as well! 

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C. and shares my growing pains with y’all here! Huge sports fan, space nerd, and international news reader!


Chronic Illness and Crypto
Chronic Illness and Crypto

Cryptocurrency and Blockchain are going to be a huge part of the future and no matter who tries it isn't going to be stopped! Here I try to give my best insight and thoughts into the latest crypto news, features, developments. Further, I look to discover any link to news from the United States ranging from social-political issues to stock market and economic data.

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