Two unanswered Ampleforth questions
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Two unanswered Ampleforth questions

By Tomatosoup | CryptoSoup | 29 Dec 2020


There are no answers here! But I hope that asking these questions will prompt a reply or an article for the #ELI5AMPL competition that fills the gaps in my knowledge.

There are dozens of articles explaining that Ample uses automatic rebasing to change supply. This change in the supply nudging the market to adjust the price and restore Ample to its target value against the USD price in 2019. Yet none of them explain:

        1) How the Ampleforth protocol 'removes' Ample tokens from a wallet without a transaction being authorized by a private key?

        2) How the gas fees for the addition or removal of Ample from a wallet get paid?

In particular, consider a wallet that has been sent Ample, but which has not used Wallet Connect or similar to authorise the smart contracts of the protocol to perform ongoing transactions. 

Just answering, "...it is a smart contract" is not adequate without explaining how the receiver of Ample has chosen to enter the contract and agree to transactions that debit the wallet.

I look forward to learning from your answers!

 

 

 

 

 

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Tomatosoup
Tomatosoup

Interested in all things crypto and in tokenization of (almost) everything.


CryptoSoup
CryptoSoup

A mixture of views and news on crypto currencies, distributed ledger technology and a small side order of cryptography.

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