| Rank | Ampleforth Name | Market cap | Price | Volume (24h) | Circulating Supply | Change (24h) | Price Graph (7d) |
|---|---|---|---|---|---|---|---|
433 | 433 Ampleforth | $29,649,764 | $1.05 | $1,383,763 | 0AMPL | -7.82% |
Ampleforth AMPL Price 1.05
The price Ampleforth today is 1.05 USD, and the trading volume in 24 hours - 1,383,763 USD. The crypto asset has grown by -7.82% over the day. Currently, the coin’s market capitalization is 29,649,764 USD, and has 0.00000000 coins in circulation with the max supply of 127,361,104 coins AMPL.
What is Ampleforth (AMPL)?
Ampleforth is a software running on Ethereum that attempts to encourage a network of users to support a crypto asset that is worth the US dollar.
This is a type of cryptocurrency known as a stablecoin, and there are many ways to achieve price parity for these crypto assets with other assets. DAI, for example, is supported by baskets of assets locked in the Maker protocol, while USDT is supported by dollar deposits from a traditional custodian.
However, Ampleforth differs from other stablecoins in its method of maintaining price stability.
Instead of relying on deposits or issuing and paying off debts, the software regulates the supply of its AMPL cryptocurrency every 24 hours in a process called " rebasing."
If the demand for AMPL tokens is high and each AMPL token exceeds $ 1, the supply will increase. If the demand is low, the supply will decrease.
Thus, AMPL is an example of a cryptocurrency that is elastic, which means that the supply can change, but when the supply changes, users retain the same share of the total supply.
This means that if you had 1% of all AMPL tokens before the reconfiguration event, then after the reconfiguration, you will still have the same percentage of coins.
Who created Ampleforth?
The project, originally named Fragments, was co-founded by entrepreneurs Evan Kuo and Brandon Ailsa in 2018.
Ampleforth was conceived as a way to issue crypto assets to gig economy workers, such as people who could supply Pythagoras Pizza, Kuo's original proposal.
The project raised $ 4.75 million from investors, including Coinbase founder Brian Armstrong, as well as from well-known venture capital firms True Ventures and Pantera Capital.
What is unique about Ampleforth?
Ampleforth operates a stablecoin called AMPL and regulates the software-driven supply of AMPL on a daily basis to maintain price parity with the US dollar.
In practice, this means that anyone who owns AMPL tokens will see that the balance in their wallets changes every day at 2: 00 UTC. To properly configure the AMPL offer, the protocol must know the AMPL price and whether it deviated from the US dollar.
As a result of the AMPL design, the coin supply will exist in three states:
- Expansion - the price of AMPL exceeds $ 1, and therefore new tokens must be introduced into the AMPL economy.
- Reduction - the price of AMPLE is less than $ 1, which leads to the removal of tokens.
- Equilibrium - the price of 1 AMPL is exactly 1 dollar.
Ampleforth's software uses Chainlink, a data provider built on Ethereum, to provide price data.
How many AMPL stablecoins are in circulation?
As of January 2021, there were 204,238,569 AMPL coins in circulation, and the maximum supply was 395,345,190 AMPL coins.
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