Today we are integrating a new token, Ampleforth’s $SPOT for tipping onto Publish0x. 

 

What is $SPOT

$SPOT tokens are designed to follow the $AMPL price, but without exposure to the rebase. SPOT can be redeemed 1 to 1 for $AMPL tokens at any time on the Spot minting app.

 

Firstly, like $AMPL, $SPOT is NOT a stablecoin; instead of being pegged to the USD, SPOT is pegged to the price of AMPL**, without giving you exposure to the AMPL's rebase. ;) SPOT is an inflation resistant store of value token which targets (but is not pegged to) the 2019 $1 USD, built on top of the Ampleforth protocol. Due to the unique way in which collateral is prepared and rotated in the system, the price of SPOT tends towards 1 CPI-adjusted dollar.

As a simplest possible explanation: Take your AMPL tokens, deposit them into the SPOT minting app > mint $SPOT tokens.

**How SPOT works:

• SPOT is a perpetual wrapper that abstracts AMPL's supply volatility from holders. It's price will be similar to AMPL (which targets the CPI adjusted 2019 dollar). The asset can function as both a refuge from volatility and a refuge from inflation.

• SPOT will be fully collateralized by AMPL backed derivatives.

• SPOT will not rebase and holders of SPOT will not experience supply volatility.

• SPOT will be governed by the FORTH token.

Tip $USD Values of Tips on Publish0x Increased by 27.5% with the Addition of $SPOT as the Third Tipping Token!

$SPOT is added as the third tipping token, alongside $ETH and $AMPL. The $USD value of your tips in $ETH and $AMPL remain the same, while the $USD value of $SPOT tips will be much higher than both tips you get in ETH and AMPL. This means that the overall $USD value of tips on Publish0x is increased by roughly 27.5%!

From now on, you can get tips on Publish0x in the following tokens:

• Ether $ETH (~30% chance)
• Ampleforth $AMPL (~30% chance)
• SPOT $SPOT (~40% chance)

 

How Does $SPOT work?

$SPOT tracks the price of $AMPL, but $SPOT does not rebase. You can redeem $SPOT one to one for $AMPL via the SPOT minting app.

When you deposit AMPL tokens into the SPOT app, these tokens are split into 2 “tranches” (into two different tokens) of tokens, called a-AMPL and z-AMPL, at a 20% - 80% ratio. If you deposited 100 AMPL into the Spot app, you would get 20 a-AMPL tokens and 80 z-AMPL tokens.

• A-AMPL tokens get turned into $SPOT (the new tipping token on Publish0x!), and again, these tokens DON’T rebase, and they are redeemable 1-1 for AMPL regardless of current AMPL price.
• The Z-AMPL tokens do still rebase. Infact, they are essentially leveraged and represent the full initial amount of AMPL. In our hypothetical case in which we've deposited 100 AMPL into the Spot app, we would get 80 z-AMPL tokens and 20 a-AMPL tokens. While 20 a-AMPL (essentially SPOT) tokens do not rebase at all, the 80 z-AMPL rebases as much as the original 100 AMPL would rebase; essentially, z-AMPL is leveraged 1.25x the normal AMPL rebase.

SPOT tokens are designed using Buttonwood (an Ethereum-based smart contract set that provides the building blocks for designing DeFi protocols).
How SPOT works:

• SPOT is a perpetual wrapper that abstracts AMPL's supply volatility from holders. It's price will be similar to AMPL (which targets the CPI adjusted 2019 dollar). The asset can function as both a refuge from volatility and a refuge from inflation.

• SPOT will be fully collateralized by AMPL backed derivatives.

• SPOT will not rebase and holders of SPOT will not experience supply volatility.

• SPOT will be governed by the FORTH token.

Here is the full Spot info site and whitepaper: https://www.spot.cash/ 

Further Reading on $Spot

• https://www.forbes.com/sites/martinrivers/2022/12/08/how-spot-by-ampleforth-could-become-digital-cash-to-bitcoins-digital-gold/?sh=63f5f7996984
• https://blog.ampleforth.org/spot-the-inflation-resistant-store-of-value-87e8112468b2 

 

How Can I Mint $SPOT and Claim $AMPL with My $SPOT Tokens?

As we've already discussed, $SPOT tokens track the price of $AMPL, but $SPOT does not rebase. You can redeem spot one to one for $AMPL via the SPOT minting app.

That means that holding $SPOT tokens is kind of like holding $AMPL on Publish0x - we always send you the amount of AMPL you have earned, and do not count neither the positive nor the negative rebases. Many users withdraw AMPL when the price is high and a series of positive rebases is expected.

Note: More info on how AMPL rebasing mechanism works, and what it is, can be read here.

 

Where Can I Trade $SPOT?

1. For now, $SPOT can be traded on Uniswap, via this link, where multiple pairs are listed. In the future, it will be integrated into exchanges, as it is made by the same team that created AMPLforth.

2. You can also redeem $SPOT one to one for $AMPL via the SPOT minting app.

 

How Can I Withdraw $SPOT from Publish0x?

To withdraw $SPOT tokens, first go here and set up your On-Chain Ethereum ERC-20 address you wish to withdraw your $SPOT tokens to.

Next, once you have $1 USD worth of $SPOT tokens, you can request a withdrawal from the Withdrawals and Payments page. As usual, we process withdrawal requests each week, on Mondays.

 

What Can You Look Forward to This Festive Season on Publish0x?

We have a few events, giveaways, and contests prepared to celebrate the new year. Stay tuned and Happy New Year everyone!

 

Let us know your thoughts, and ask any questions in the comments below. We'll try our best to answer all of them.