Having reading about Ampleforth on Publish0x blogs, i was looking at it and trying to ride the wave, with Geyser Beehive version1 looking just right. So i bought some $AMPL twice, once with $1.70, once with $0.92. Right after this the Ampleforth promptly dumped straight to $0.59, So i stopped buying.
Nevertheless, i supplied liquidity on Uniswap, and soon i was mystified to note that the numbers of Ampleforth owned by me were not the same, changing regularly. Hmm, this was something new.
Soon i learn that $AMPL has daily rebase, the price is high, the balance increase, the price is low, the balance decrease, with the aim of the token being almost stable at the value of $1.00. With the emphasis on almost. But the price being mostly under one dollar, the negative rebase affected my portfolio, and the total value kept going down. Luckily, there was the Geyser faucet, slowly dropping some $AMPL every day, with the percentage increasing steadily following the next few weeks. But the total value should be the same. If you own 1% of the total $AMPL, you will always own 1% of it, unless you sell.
At the end of my misadventure, calculating my loss on Uniswap, and my gain from Geyser Beehive version1 faucet, i was in profit £4-5. At least i didn't lost money, and i learn about elasticity and inelasticity. I believe the world was not ready for Ampleforth back then. Nowadays Ampleforth seems to do well, being above the one dollar for most of the time. Now, this is where you can benefit from the positive rebase. Like a yo-yo.
But be warned, you may not be always lucky, so it is good to always learn before investing in something new.
So, days become weeks, weeks become months. And one day i heard the dreaded name again. Ampleforth! Ampleforth! Everyone on the Publish0x platform was chanting its name, as Ampleforth will take Loopring place. So, once again i did my homework. Now Ampleforth seems to reach a new level of maturity, and the Geyser faucet has many version for many other platforms. I will give it a second chance.
Ampleforth, now is your turn! Make me believe in you again!
