Ampleforth (AMPL) co-founder Brandon Iles has provided an update on the listing of AMPL on Aave. In a post made on Jan. 15, Iles said that a formal AIP had been created and that initial testing is underway.
- Brandon Iles first suggested the addition of AMPL in a post made on the Aave governance forum in Oct. 2020
- the team has begun working on a custom aToken implementation; some final testing and audits remain
- Aave developer Emilio Frangella also acknowledged the potential listing over Twitter
- With a Chainlink price feed also in place, a listing would be not too far off - the final decision will be in the hands of the Aave community, which will ultimately decide if and when the proposal reaches the submission threshold
- AMPL is a next-generation algorithmic stablecoin where the price is maintained by altering the total supply; this elastic supply is altered daily in a process called “rebasing”
- Ampleforth will also launch on Polkadot, TRON, and NEAR protocol as announced in Dec. 2020; like being listed on Aave, it is expected to increase the usability and exposure of AMPL