What is Ampleforth
Ampleforth is an elastic supply (rebasing) currency on Ethereum. It increases and decreases supply to target the price of $1 during 2019.
AMPL coin is used as
- A price-stable currency
- Launch Elastic AMM
How Ampleforth works
Ampleforth is a set of smart contracts for the AMPL coin.
Rebasing mechanism can be called by anyone. The effect can only happen once every 24 hours.
- When the price goes above $1 a rebasing mechanism can be called to increase supply.
- Supply and demand will then make AMPL drop in price.
- When price goes below $1 a rebasing mechanism can be called to decrease supply.
- Supply and demand will then make AMPL increase in price.
At launch, tracking the price in relation to $1 will have a trusted whitelist of sources and the value will be the volume-weighted median between them.
If you have AMPL equal to 1% of the total supply you will always have 1% of the total supply, regardless of rebases.
More in whitepaper.
AMPL coin issuance
Starting supply: 50 000 000
IEO and ICO
23.2% – Ecosystem
18.5% – Seed Investors
3.3% – Series A Investors
10.0% – IEO
25.0% – Team & Advisors
20.0% – Treasury