Ampleforth (AMPL) is an innovative stable coin, based on ethereum's ERC 20 protocol, which tends to be stable with the elastic delivery method. Ampleforth therefore aims to be an unsecured synthetic asset, in fact, it has no collateral whether it is USD or other tokens such as classic stable currencies such as USDT, USDC, BUSD, DAI ...
This automatic bid adjustment process is known as a "rebase" and occurs once a day, with a positive rebase if the price exceeds $ 1.06 and a negative rebase if it is less than $ 0.96. The overall goal of the system is to create incentives that bring the market price of AMPL back to ~ $ 1.
Currently it cannot be said that the system works very well as the token fluctuations are very high to define it as a stable currency!
Interesting of the Ampleforth project is the liquidity extraction called Geyser, with which AMPL tokens will be distributed to the participants for a period of 10 years. Geyser is a great example of how liquidity incentives can create significant traction for a DeFi project.
In summary, by participating in the Geyser project, you provide liquidity in a Uniswap pool by receiving extra AMPL as a reward!
AMPL can be purchased on various centralized exchanges or on Uniswap or receive it for free by participating in the blogging platform of Publish0X
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Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.
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