You might have noticed that we have become a little DeFi obsessed here at Publish0x. Simply put, we think DeFi is where the activity is in blockchain right now.
Obviously, Bitcoin is getting attention, and don’t get us wrong, we LOVE Bitcoin. But on the Ethereum DeFi scene there is SOOO much happening from various stablecoins, to decentralised exchanges, to lending platforms and all sorts of trading games and “NFTs” starting to appear.
Over the next few months we will be integrating and showcasing some of the leading DeFi tokens, and today we are super excited to start with a big one - the “first to market” or “leader” in the “elastic” coin or “rebase” tokens space; an Algorithmic $1 targeting coin (more on this next); Ampleforth - $AMPL!
Ampleforth $AMPL Added as a Tipping Token on Publish0x!
$AMPL will replace Loopring $LRC as the tipping token. That means that from now on, you can get tips in the following tokens:
If $AMPL replaces $LRC as a Tipping Token, What Will Happen to My Loopring ($LRC) Tokens?
If you do not ask for a withdrawal of your $LRC tokens from Publish0x before Tuesday, December 15th, we will automatically swap them for $AMPL tokens, in a similar fashion to how we've previously swapped $BNTY and $HYDRO tokens into $DAI.
Due to high gas fees, it does not make sense to lower the withdrawal threshold for your LRC tokens. So:
- Your LRC balance will be exchanged to the corresponding value in AMPL on Tuesday, 15th of December 2020.
- Until this date, you have time to withdraw your LRC balance if you have the minimum $1 in LRC in order to request a withdrawal.
- In case you prefer to have your LRC swapped to AMPL, all you have to do is to keep your LRC in your Publish0x account by Tuesday, 15th of December 2020, when the tokens will be swapped automatically.
- You will be able to see the details of the exchange under "Payment History", on this page.
Great, So What is Ampleforth?
Ampleforth is the pioneer in the "elastic assets" space. Backed with the likes of Coinbase’s CEO Brian Armstrong, it went live in late June of 2019. It hit the headlines in early June 2020 after launching its incentive program called Geyser.
The team behind AMPL designed the token to track the 2019 US Dollar (however, it’s not your typical stablecoin), doing so with a daily "rebase". If the price is above $1 the supply algorithmically increases - to ALL wallets. If you have 100 AMPL in your wallet today and the price tomorrow is $1.30 per AMPL then the supply increases by approximately 2% (it scales increasingly so a larger rebase % increase the further away from $1) then after the rebase you will have 102 AMPLs in your wallet.
It aims is to become an asset completely uncorrelated with traditional ones like Bitcoin or gold. To be a source of collateral, or currency which isn't backed or capitalized by any 3rd party or centralised source - it all works by it's rebasing algorithm.
Why? Well that's a longer story and better read here (or for the really deeply curious and technical, take a read of the Ampleforth Redbook), but simply put the rebasing stimulates trading - after 10 days of 2% increases in supply you probably have a healthy profit and should feel increasing pressure to sell your AMPLs and therefore the price comes down - the same thing happens under $1 too, as the price falls under $1 the supply negatively rebases and you will have less AMPLs in your wallet after each rebase.. but you should be incentivised to buy more as you can buy more % of the supply for the same amount of $.
And this is the important point. What you are really owning is not an amount of tokens, but a % of supply. As the rebase occurs across all wallets, you keep the same % of supply, just your token amount changes.
Ampleforth Rebases Explained.
Note, this is important! The rebasing event does not occur inside your Publish0x wallets. If you get tipped 1 $AMPL today, you will also get that 1 $AMPL in your payout. Once it lands in your wallet, only then will the tokens be subjected to a rebasing mechanism.
Ampleforth Rebase Explained:
The most intriguing part of the Ampleforth's ecosystem is its daily rebase event that alters the total supply of AMPL. Without exceptions, all token holders, whether having AMPL on a centralized exchange or in an Ethereum wallet, can experience changes in the amount of AMPL tokens they hold.
- In simple terms, once AMPL’s market price is above $1.06 during the rebase, its supply expands, and holders get an additional amount of AMPL tokens in their wallets.
- If the price is below $0.96 per AMPL, the supply shrinks, and holders experience less AMPL in their wallets.
- If the price of AMPL stays between $0.96 and $1.06 during the rebase, then its supply remains the same.
Note that your % share of the total supply never changes, regardless of the rebase result. If you own 2% of the total supply of AMPL today and a negative (or a positive) rebase occurs, you will still own 2% of the total supply tomorrow (unless you sell or buy more).
For more detailed information on rebasing head over to this article.
Note: You can find the rebase timer here in the top-left corner.
Also Note: Stay up to date and calculate your $AMPL rebases on this AMPL Rebase Calculator website.
Note, this is important! Inside Publish0x your tokens will NOT rebase daily. If you receive 1 $AMPL as a tip it will stay as 1 $AMPL until you withdraw it. But, when you withdraw it into your own wallet then it will start to rebase and change supply daily.
While Ampleforth is not a stablecoin as such, but is algorithmically programmed to rise and fall to a $1 price based on supply and demand. It gives it a unique position within the stablecoin space and the only $1 "stablecoin" which is NOT backed by collateral or centrally controlled.
- This also gives it unique potential to be used as collateral within DeFi, a different uncorrelated to use within lending platforms, to pair against different tokens to trade in exchanges, and ultimately to become a reserve currency or collateral asset within DeFi and beyond.
- AMPL’s elastic supply is a breakthrough in the DeFi space that gave birth to an entirely new asset class - Multiple Variable Asset (MVA) that is still in its infancy.
- It’s the first asset in the world that you can spot buy high and sell low and still make a profit.
- Unlike Maker’s DAI, AMPL has no collateral with no liquidation penalties or debt ceilings.
We believe that by adding Ampleforth as the primary tipping token at Publish0x, we can accelerate the spread of awareness and understanding of this tech among crypto communities and beyond. We think it is especially interesting and exciting and that we are only just scratching the surface on what is possible and what we be built with and on AMPL.
We are excited to be at the forefront of this technology and believe that we barely scratched the surface of what can be built with Ampleforth’s tokenomics.
Where Can You Store Your $AMPL?
You can keep your AMPL in any ethereum wallet. We recommend a non-custodial, self hosted wallet that you hold the keys to. These include wallets like:
Do you have a good guide on how to store AMPL (or other tokens) on any of these wallets? Let me know, I'll link to it from here!
Where Can You Buy, Sell, and Trade Your $AMPL?
You can trade $AMPL tokens on a variety of decentralised and centralised exchanges, including:
Trade $AMPL on Decentralised Exchanges.
- Trade $AMPL token on Uniswap
- Trade $AMPL on Mooniswap
- Trade $AMPL on KyberSwap
- Trade $AMPL on SushiSwap
Trade $AMPL Token on Centralised Exchanges.
- Note from Ampleforth Website: If your tokens are held in an ERC20 wallet they will respond to daily supply adjustments automatically. Otherwise, if your AMPL tokens are held on a centralized exchange please be aware that exchanges pool wallets and it is the exchange's responsibility to update user balances accordingly. The following centralized exchange-integrations have been reviewed by the Ampleforth Foundation and DO rebase fully:
Where Can I Learn (Even) More About Ampleforth?
Official Links and External Tools:
- Official Ampleforth Website
- Ampleforth Rebase Dashboard (see daily rebase history and charts)
- Ampleforth Redbook (indepth trading mechanics and game theory)
- Official Ampleforth Twitter
- AMPLCalc (tool to track your buys and sells and rebase changes
Further Reading on Publish0x
- Ampleforth Blog on Publish0x
- Ampleforth Tag on Publish0x
- Ampleforth on CoinGecko
- Ampleforth Rebase Calculator
- What is Ampleforth (AMPL)? [A Comprehensive Guide to Understanding Ampleforth] By Mr.CryptoWiki
- Top Things You Should Know About Ampleforth (AMPL) By MuyAsk
- What is Ampleforth, and why are so many people talking about it? By TMod_Marco
- Ampleforth | What is going on? and Ampleforth - New Wave By Mynima
- Ampleforth - When Supply Meets Demand By Cryptonator`s
- Ampleforth Wants to Take the Volatility Out of Crypto. This Is How They Will Do It. By SkinnerCrypto
- What is Ampleforth (AMPL)?: The adaptive money that’s built on sound economics By CryptoSorted
Learn More About AMPL Rebases:
- Rebase! The Implications of Supply Smoothing By Block_Enthusiast
- Top Things You Should Know About Ampleforth (AMPL) By MuyAsk (check subheading: 5. What is a Daily Rebase?)
- What is Ampleforth (AMPL)? [A Comprehensive Guide to Understanding Ampleforth] By Mr.CryptoWiki (check subheading: ["Rebasing" Supply to] Achieve a Price-Supply Equilibrium)