Sirwin
Sirwin

Ampleforth and Ampleforth Geyser - step by step


As i was reading about Ampleforth, i decided to take a closer look. Short story, from what i see, is that using Metamask of Coinbase wallet, you put a mix of ethereum and Ampleforth on Uniswap-v2. The Uniswap tokens, and the ampleforth tokens, can be used on Ampleforth geyser, and they will provide a continuos dripping of Ampleforth, for as long as you stake them. 

Let's see how this works. 

Step one: We need to use Uniswap-v2, Metamask and Ampleforth Geyser. I connected Ampleforth Geyser to Metamask. I can see if i click deposit that they use some strange token named UWETHAMPL-V2. I think this is related to the ETH AMPLEFORTH staked on Uniswap-v2. 

Step two: Learn about what i need to stake on Uniswap exchange. I need an equal amount of Ampleforth and ETH to stake on ETH/AMPL pool on Uniswap-v2. After a quick check, i found how to put everything in the pool and provide liquidity. Now the detective work starts. Check on Binance: no Ampleforth in there. Check on Kucoin: happy finding, they got Ampleforth. I decided to move 1000$ in Stablecoins to Kucoin. While on Celsius, i set up the address for Kucoin exchange, and i am kindly informed that i need to wait 24 hours for the wallet to be activated. Anti-hacking measure, i presume. Can't complain, i'll be back in 24 hours. 

Step three: 24 hours later, i managed to transfer 1000 TrueUSD from Celsius to Kucoin. Then i exchanged them for 3.15 ETH. I look for Ampleforth and surprise, the only pair on the market are AMPL/USDT and AMPL/BTC. So 1.5 ETH become 284 AMPL. The rest of the ETH is transfered to Metamask. Then I look for the token contact address for AMPL, using Ethexplorer, in order to add it to the Metamask. Once this is done, i transfer all of them to Metamast, with a 1.5 AMPL fee. Two minutes later, i got both the ETH and the AMPL on my Metamask wallet.

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Step four: Open Uniswap website, select pool, choose Ampleforth and Ethereum, realise that i need to pay two separate fees, one for AMPL, one for ETH, pay $0.66 and $0.60 for both of them, the third fee appear for the WETH (I think this is the pool fee for the synthetic token). And i am done, they are pending now. A bit confused as all my coin are still on my Metamask, but now i have something new that just appeared on my wallet, called WETH. I look online and i find out this on Binance academy:

''Wrapped Ether (WETH) refers to the ERC-20 compatible version of ether (wrapping ether with other ERC standards is also possible). WETH can be created by sending ether to a smart contract where the ether is placed on hold, in turn receiving the WETH ERC-20 token at a 1:1 ratio. This WETH can afterward be sent back into the same smart contract to be “unwrapped” or redeemed back for the original ether at a 1:1 ratio.''

So i realize that my ETH combined with my AMPL created this wrapped ETH. Seems that this was supposed to happen. 

 

Step five: Using the Geyser thingy. I realized that something is wrong. Went back to Uniswap. Apparently there is one more step called providing liquidity. Another $2.47 fee for the smart contract. Back to Geyser. Now i have some tokens UWETHAMPL-V2 and one lovely image showing me that everything works. But not for free, another $6.12 fee was paid to deposit the strange tokens on the Geyser faucet. I can see a monthly estimate of 52.10 AMPL (which today will be worth approx. $91). The total amount of fees paid for this complicated experience was $13.10. I am sure that i also need to pay to take them out from the pool. I will see in the end if all this is worthy of the whole effort or not. 

75fbef2fbc0052418cb78e407b96cc4104ec8fc550a401c3469509f25288e874.png

And with this, my adventure providing Ampleforth as liquidity for Uniswap is finished. I have just one question. Looking at Ampleforth Geyser stats, i noticed a countdown saying: Program duration 72.8 days left. Is that all that is left for the Geyser faucet experiment? Anyone knows?

1b735dad5532dc08add57b7efa0c30406c638af6390eeaffe71aa0a41803f823.png

Feel the rhythm of live, the energy flowing, and live like there is no tomorrow! See you soon!

G. 

 

 

My crypto-related links  (check ratings - 1 to 5 stars based on my personal experience)

 

Games to gain crypto

***** League of Kingdoms - link here: similar with Heroes of Might and Magic or RoK (worldwide - paying in DAI)

***** DogeWars - link here (paying in Doge, 10-100 Doge initial investment, fight bosses and 1vs1 arena)

 

Exchanges

***** Binance( good for staking/savings ) - link here

***** Kucoin( good for staking/savings ) - link here

***** Coinbase( ideal for beginners )- link here  

****ChangeNOW (make your own exchange widget) - link here

 

Investments

**** BlockFi (decent interest rates, but less choices than Celsius) - link here

***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus  ) - link here

**** Coinbundle (investing in crypto bundles) - link here  

**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here

**** Credit (staking, African currency - 200% staking rewards) - link here

 

Wallets for multiple cryptocurrencies

***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)

***** Atomic wallet - link here (microwallet for Publish0x DAI, BAT and Loopring)

***** Sphere wallet (for Horizen, combined with the faucet for extra bonus) - link here  

**** Crypto.com wallet (good interest staking and 50$ bonus in MCO) - link here

 

Free crypto (faucets and more)

****Lbry.tv (free crypto for watching or making videos) - link here

****Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here

****Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here

****Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

***Moon Bitcoin Cash ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

****Moon Litecoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

****Moon Dogecoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

***Moon Dash ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet - bonus ) - link here

***** Zcash daily faucet (20 hours cooldown - automatically deposit to Binance- bonus) - link here

*** Tezos faucet ( 7 days countdown - automatically deposit to Coinbase or Binance wallet ) - link here

** Tron and other crypto faucet (24 hours countdown) - link here  

 

Others

***** Publish0x blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here

***** Brave browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here    

***** Presearch search engine (Free PRE for using it, works well in combination with Brave browser) - link here    

 

Disclaimer: This text also can be re-published on my personal blogs, such as this one.

 

 

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Heruvim78
Heruvim78

I am a writer, gamer, healthcare professional. I am.


Crypto - I tested it, so you didn't need to...
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