12 June 2021: Recent speculation via information from the Amplforth discord server has now been confirmed from Evan Kuo - Amplforth is officially cross chain compatible. The AMPL rebasing monetary system is now successfully operational between both the Ethereum mainnet as well as the Binance Smart Chain (BSC). Daily supply changes will automatically be updated across all wallets, regardless of platform, simultaneously.
While an expected development by Amplforth holders and investors, this is a huge achievement by the Amplforth development team. The ability to use and send AMPL across different chains without error and still have simultaneous daily rebasing sets up the protocol to establish itself as the leading candidate for providing the layered money within decentralized finance (DeFi).
Links & Info for AMPL Cross Chain Usage
AMPL can be sent from the Ethereum mainnet to the Binance Smart Chain through the Ampl bridge. You can check out the bridge below:
Additionally, the token address for AMPL on BSC can be found below:
Lastly, feel free to check out the Github for AMPL cross chain:
My Thoughts & Closing Remarks
As an investor and holder of Amplforth myself, I began supporting this project with the expectation that the development team would be able to successfully integrate AMPL with multiple platforms while still managing to successfully initiate daily rebasing free from errors. The development team delivered on that expectation. With BSC serving as a proof of concept, the AMPL ecosystem now has the ability to expand across the blockchain and DeFi space.
Being cross chain compatible will allow investors, institutions, and other entities to utilize AMPL effectively no matter what mainnet they are active on at any given time. Additionally, due to AMPL being pegged to the 2019 USD prior to massive quantitative easing or money printing from the US Federal Reserve, AMPL also has a strategic advantage over other stablecoins such as DAI, Tether, and USDC in terms of long term longevity.
The Amplforth ecosystem is just getting on its feet, and my expectations for the future possibilities of Amplforth within DeFi, now that the protocol is successfully cross chain compatible, are high - as I feel they should be. I am confident that the development team will continue to put AMPL at the forefront of the DeFi ecosystem.
