As the US dollar devaluation becomes a hot topic, CryptoSlate talked to the founder of the “rebasing cryptocurrency” designed to fight the inflation curse.
Ampleforth (AMPL) is a protocol running on the Ethereum (ETH) blockchain that incentivizes a network of users to maintain a cryptocurrency with a value that is cycling around $1.
Maintaining the price stability
“We created AMPL to be an indestructible unit of account because we realized early on that the algorithmic stablecoin approaches were very fragile, Ampleforth’s founder and CEO Evan Kuo told CryptoSlate, adding that “the graveyard of failed decentralized stablecoins” already proved this to be true.
Due to its method of maintaining price stability, AMPL differs from stablecoins that rely on deposits or debt issuance and redemption.
Designed to be elastic and non-dilutive, the protocol adjusts the supply of AMPL every 24 hours in a process called “rebasing,” with anyone who owns tokens seeing the balance in thei
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