AMPL is a rebased cryptocurrency of the ampleforth network created on the ethereum network and rebased between $1.06 and $0.96 based on the oracle although this range can change based on demand and supply and can be transferred from one smart contract address to another without involvement of a third party thus making it a decentralized stable coin. The transaction will be processed to the second party after the block is being added to the ethereum contract address sending the AMPL coin to another smart contract address. Since AMPL coin is a delegated proof of stake rebased coin,different individual who want to take part in staking it can delegate their AMPL or ethereum to several Geysers who operate as validators of the network thus in return they receive the liquidity provider tokens of up to 70% return the whole year. The more liquidity you provide to the liquidity providers the more reward you receive. The stakers address amount will keep on rising or dropping based on the demand and supply of the AMPL. An increase in price will cause their amount in their address to increase based on the percentage they are holding while a decrease in price will cause the amount they are holding in their ethereum address to drop based on the percentage they are holding in their account. If the total supply was 10,000,000 then due to rebase,the price increases from $1.01 to $1.03, then the supply happens to increase to 30,000,000 and one happens to be holding 1%,then their account will also be valued at 1% of 30,000,000. On the other hand,if the total supply dropped from 30,000,000 to 10,000,000 due to a decrease in price from $1.03 to $1.01 and one happens to be holding 1%,then their account will also be valued at 1% of 10,000,000.
AMPL coin transaction
AMPL coin transaction takes place on the Ethereum blockchain explorer based on block height and timestamp. Here is a view of the transaction of AMPL on the Ethereum network;
To view how the transaction takes place on the ethereum blockchain, you can follow the link below;
https://etherscan.io/token/0xd46ba6d942050d489dbd938a2c909a5d5039a161
Date Launched
AMPL project was started as a private project in 2018. In 2019,the project had managed to raise around $5 million where it later released the project to the public around June of 2019.
Founder Of AMPL coin
AMPL project was created by a team of engineers with the object of solving the problem of stability of pricing of different cryptocurrencies by making it a rebasing cryptocurrency. Because of that,they made their coin AMPL to become a stable coin in terms of demand and supply unlike others stable coins that depends on reserve banks of different centralized governments. Some of the team members behind the project are; Evan Kuo who is an art and Math lover as well as an Engineer, Brandol Iles (an engineer) and Simon Manka amongst others
Process of creating AMPL coin
Since AMPL is a rebasing coin, the only way in which it is being decreased or increased into the ethereum economy is by adjusting its amount based on the supply or demand . The supply during its launch which is 50,000,000 can either increase or decrease . The price which ranges between $0.96 to $1.06 will affect its supply adjustment. When the price increases ,the supply adjustment will also be increased while when the price decreases,the supply adjustment will also be decreased. The holders of AMPL in their address which they control the private key for ethereum wallet will also be adjusted based on supply adjustment. If a certain address was holding 1% and the supply happens to be 60,000,000 by that time,then the price increases from $1.02 to $1.03 and the adjustment happens to be from 60,000,000 to 70,000,000 then the new holder balance will also be 1% of that 70,000,000. On the other hand,if the price drops from $1.02 to $1.01 and the adjustment happens to be from 60,000,000 to 50,000,000,then the new holder will be holding 1% of that 50,000,000 supply. This is indicated as from below;
Maximum circulation of AMPL coin
Since AMPL is a rebased coin of the price ranging $1.06 to $0.96 based on oracle suggestion which does not means that it can not go above or bebelow that range,it does not have a maximum supply. Instead,it can be considered as an inflating and deflating cryptocurrency due to its rebasing feature.During its launch in early June when one coin was going for $0.98, 50million coins were released. Out of this amount,10% was set aside for public sale while 3.3% for private sale.18.5% was set aside for seed sale allocation while 25% was set aside for team and advisor. 20% was set aside for token treasury while 23.2% was set aside for Ecosystem. Since AMPL is a rebased coin, the total supply can increase or decrease based on the demand and supply of the AMPL due to its price effect. Here is the distribution graph for this 50 million coin;
AMPL coin Price
Currently, 1 AMPL coin is worth $0.8 and its price is expected to stabilize between $0.96 to $1.1 over the next period of time. Sometimes,the price can go below $0.96 or above 1.1 based on supply and demand.Ampeforth coin is being abbreviated as AMPL.
Converting my AMPL coin to other cryptocurrencies
To convert your AMPL coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your AMPL coin to Bitcoin or Ethereum. Here are some of the exchanges where you can easily exchange your AMPL to your favorite cryptocurrency;
https://app.uniswap.org/#/swap
https://ftx.com/trade/AMPL/USDT
https://timex.io/private/trading/AMPLUSDT
Storing my AMPL coin
To store your AMPL coin, you need an ethereum wallet where you control your private key. You can either store online or offline. To store your AMPL coin online, you can either use Metamask or myetherwallet or can use other third party wallet providers like the exchanges . To securely store your AMPL coin offline from being stolen by hackers, you can use ledger Nano wallet.
Transferring my AMPL coin to other Users
If you want to transfer your AMPL coin to another user, the two of you must have trust in each other. The trust should be the AMPL coin address provided for by the receiver while the sender must have the AMPL coin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Supply Adjustment
Unlike in other cryptocurrencies where there is no supply adjustment to your balances in the address where you control the private key,for AMPL,this is there. When the demand for AMPL is high due to a decrease in price,then there shall be a decrease in the adjustment of the wallet which shall apply to all those address holding the AMPL in the ethereum address where they control the private key. On the other hand,when the supply increases due to an increase in the price of AMPL,there shall be an increase in the adjustment to those ethereum wallet address holding the AMPL balance to the address they control the private key. If you happen to be holding 1% of the supply in the economy and the supply by that time happens to be 50,000,000 ,then due to rebase ,the supply decline to 30,000,000 ,then your total holding in your wallet will also be 1% of 30,000,000. On the other hand,when the supply increases from 50,000,000 to 70,000,000 due to rebase effecct,then your total holding in your wallet will also be 1% of 70,000,000. That sounds good.
Knowing more About AMPL coin
If you feel that you need to learn more about AMPL coin project, then you can follow them on their site. Here is the link redirecting you to Ampleforth coin platform website
You can as well read their white paper to learn more about their idea from below
https://www.ampleforth.org/papers/
Staking AMPL
1.STAKERS
The stakers in Ampleforth are the one who delegate their coins to the liquidity providers. In return,they will earn the reward in form of liquidity providers token . The more staking amount a staker delegates to the liquidity providers,the more the reward they will receive.
2.Geysers
They are the validators of the ampleforth networtk. The stakers delegate their AMPL to different Geysers by depositing the coin paired by AMPL,who then use the coin to provide liquidity . In return,they are rewarded with liquidity provider token which they then redistribute to stakers based on their voting amount. You can stake your AMPL using different Geysers like Beehive on uniswap exchange,old faithful on balancer exchange and Pescadero on sushiswap exchange
When you stake,you will be earning some LP token for providing your liquidity to the Geysers which can be converted to AMPL or ethereum. That is if the liquidity provider is AMPL/USDC, then you will be earning USDC since that is the one providing liquidity to AMPL.
