Ampleforth (AMPL) Cryptocurrency - ICO Review, Rating and Details of Ampleforth ICO (Token Sale) - Rating: Gamble

Ampleforth is a digital-asset-protocol for smart commodity-money. The Ampleforth protocol receives exchange-rate information from trusted oracles, and propagates that to holders of its units (Amples) by proportionally increasing or decreasing the number of tokens each individual holds.

For traders, these changes in exchange-rate and quantity translate into changes in Ample’s market capitalization. Traders with short time horizons, especially those using automated or algorithmic approaches, will thus have to devise new strategies to trade Amples.

Ultimately, unique trader behavior in response to the protocol’s incentives, is expected to produce a step-function-like movement pattern with lower correlation to Bitcoin than existing digital assets. This makes Amples uniquely suited for the following near, medium, and long term uses.

Problems & Solutions

Founded with a mission to create fair, politically independent money, the protocol’s creators noticed that commodity-monies like gold and silver are naturally fair and independent.

Unfortunately, such commodity-monies cannot efficiently respond to changes in demand, making them a poor substitute for central-bank-money.

To address this shortcoming, the project's founders designed a synthetic commodity-money that propagates price-information into supply, much like how thermal expansion propagates nearby kinetic energy into a material’s volume in the natural world.

Features & Highlights

  • Near-term Use
    • For diversification in cryptocurrency portfolios
  • Medium-term Use
    • As reserve collateral in decentralized banks such as Maker DAO
  • Long-term Use

Token Allocation

"Public Sale","Pre Sale","Private Sale","Seed Sale","Team & Advisors","Token Treasury","Ecosystem" {"name": "Public Sale","value": 6},{"name": "Pre Sale","value": 4},{"name": "Private Sale","value": 3.3},{"name": "Seed Sale","value": 18.5},{"name": "Team & Advisors","value": 25},{"name": "Token Treasury","value": 20},{"name": "Ecosystem","value": 23.2}

Token Release Schedule

"Jun 2019", "Jul 2019", "Aug 2019", "Sep 2019", "Oct 2019", "Nov 2019", "Dec 2019", "Jan 2020", "Feb 2020", "Mar 2020", "Apr 2020", "May 2020", "Jun 2020", "Jul 2020", "Aug 2020", "Sep 2020", "Oct 2020", "Nov 2020", "Dec 2020", "Jan 2021", "Feb 2021", "Mar 2021", "Apr 2021", "May 2021", "Jun 2021", "Jul 2021", "Aug 2021", "Sep 2021", "Oct 2021", "Nov 2021", "Dec 2021" {"name": "Public Sale", "icon": "roundRect"},{"name": "Pre Sale", "icon": "roundRect"},{"name": "Private Sale", "icon": "roundRect"},{"name": "Seed Sale", "icon": "roundRect"},{"name": "Team & Advisors", "icon": "roundRect"},{"name": "Token Treasury", "icon": "roundRect"},{"name": "Ecosystem", "icon": "roundRect"} {"data": [6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00, 6.00],"name": "Public Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [2.00, 2.00, 2.00, 2.67, 3.34, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00, 4.00],"name": "Pre Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [1.00, 1.00, 1.00, 1.38, 1.55, 1.72, 1.90, 2.08, 2.25, 2.42, 2.60, 2.78, 2.95, 3.12, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30, 3.30],"name": "Private Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 1.54, 3.08, 4.62, 6.17, 7.71, 9.25, 10.79, 12.33, 13.88, 15.42, 16.96, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50, 18.50],"name": "Seed Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 1.06, 2.12, 3.20, 4.36, 5.77, 8.43, 9.72, 11.00, 12.29, 13.58, 14.86, 16.15, 16.62, 17.09, 17.55, 18.02, 18.49, 18.96, 19.43, 19.90, 20.37, 20.84, 21.29, 21.65],"name": "Team & Advisors", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 0.00, 1.67, 3.33, 5.00, 6.67, 8.33, 10.00, 11.67, 13.33, 15.00, 16.67, 18.33, 20.00, 20.00],"name": "Token Treasury", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [1.00, 2.23, 3.47, 4.70, 5.93, 7.17, 8.40, 9.63, 10.87, 12.10, 13.33, 14.57, 15.80, 17.03, 18.27, 19.50, 20.73, 21.97, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20, 23.20],"name": "Ecosystem", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}}

Token Allocation & Release Note

  • Public Sale: 6% of total supply
    • No lockup
  • Pre Sale: 4% of total supply
    • 50% to be released before listing, 16.67% released at 4th, 5th, 6th month
  • Private Sale: 3.3% of total supply
    • 30% to be released before listing, then monthly vesting in 1 year after 4th month
  • Seed Sale: 18.5% of total supply
    • Locked first 6 months, then monthly vesting in 1 year
  • Team & Advisors: 25% of total supply
    • Locked first year, then monthly vesting in 4 year, until July 2023
  • Token Treasury: 20% of total supply
    • Locked first 18 months, then monthly vesting in 1 year
  • Ecosystem: 23.20% of total supply
    • 4.5% to be released before listing, then monthly vesting in 18 months

Token Utility & Use Cases

The Ampleforth protocol always seeks a price-supply equilibrium, and will automatically enter a state of unrest until it finds one. To illustrate this, we can walk through a simple example: 

>> Equilibrium 1:
Alice has 1 Ample worth $1.

>> Demand Doubles:
Alice has 1 Ample worth $2.

>> Equilibrium 2:
Alice has 2 Amples each worth $1.

When demand changes, the system seeks a new equilibrium point by universally expanding to, or contracting from holders. 

In the case above, when demand suddenly increases, the system seeks a new price-supply equilibrium, such that Alice ends up with 2 Amples each worth $1. And the opposite would be true if demand decreased.

* Please note: Although Amples have an equilibrium price-target, they cannot be thought of as a stablecoin initially. Specifically:

User balances can gain or lose value.
The time to reach equilibrium is market dependent.

  • Ampleforth in Portfolio Theory - A censorship resistant asset with a unique volatility footprint that is uncorrelated to stocks, commodities or other digital assets allows for diversification opportunities.

  • Ampleforth as a 'Traders Coin' - As the price of AMPLs moves to-and-away from 1 USD the protocol decreases and increases supply, creating short and long term trading opportunities that do not exist for any other digital asset.

  • Ampleforth as an Asset - Own a non-dilutable percentage share of the network.

  • Ampleforth as Money - Stable price, but not a stable coin. Long term, Ampleforth aims for AMPL to be global money. It is independent, not limited by collateralisation, impossible to dilute, and it has a stable price - a unique set of critical features.

Team Members

  • Evan Kuo - Engineer / product, Evan is an art and math lover. He was previously the CEO of Pythagoras Pizza, and has extensive experience developing predictive auction products and working with venture capital. Evan holds a BS from UC Berkeley, where he studied a mix of ME & CS with research focused in Robotics.

  • Brandon Iles - Engineer / architecture, Brandon spent over 5 years in Google's Search Ranking and Machine Intelligence groups and later worked in Uber's Ranking and Relevance team. He loves the intersection of Systems, Data, and Intelligence. He holds a BS and MS in Computer Science from Rice University.

  • Ahmed Naguib Aly - Engineer / backend, Previously at Google, Ahmed spent over five years as a Software Engineer in the Search Indexing and Search Ranking groups. His passion for coding and algorithms began with competitive programming in high school and holds a Bronze Medal in the International Olympiad in Informatics. Ahmed has a BS in Computer Engineering from AAST in Alexandria, Egypt.

  • Aditya Sarawgi - Engineer / backend, Previously at Uber, Aditya began developing the end-to-end surge pricing system and later started the places search project with autocomplete, destination prediction, and current location prediction. Eventually he moved into advanced technology research to generalize Uber's multi-modal robotic perception networks. Aditya has an MS in CS from Stony Brook and a BE in Eletronics and Telecom from the University of Mumbai.

  • Nithin Krishna - Engineer / backend, Previously at USC, Nithin was a research engineer at the IRDS/IMSC labs where he worked on applying machine learning to big data problems like traffic prediction, recommender systems, content analysis and text mining. His Master's thesis was focused on developing novel algorithms to protect user friendships from location data. Nithin holds an MS Research degree in Computer Science, from USC.

  • Jessica Yen - Branding / operations, Jessica formerly co-founded Pythagoras Pizza and loves working at the intersection of technology and the humanities. She holds an MFA in creative writing and a BA from UCLA.

  • Richy Qiao - Business / operations, Richy spent 4 years in NYC as a consultant, leading over a dozen projects across clients such as Morgan Stanley, DTCC and Visa. In 2017, he packed his bags and began his full-time crypto journey in Beijing at IDG Capital. Richy is currently a Venture Partner at FBG Capital and enjoys skiing, the Buffalo Bills, music and poetry. He holds a BA in Economics from Yale.

  • Simon Manka - Growth, Previously at IOSToken (Binance: IOST), Simon led growth initiatives and helped IOST enter the Top 50 cryptocurrencies as rated by market cap. Simon has a passion for cryptocurrency and helping it achieve mainstream adoption. He holds a BA in history from the University of Virginia, where he played football and lacrosse.

Partnership Overview

  • Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $2 billion under management, True provides seed and Series A funding to the most talented entrepreneurs in today’s fastest growing markets. The firm maintains a strong community that supports founders and their teams, helping True companies achieve higher levels of success and impact. To date, True has helped more than 250 companies launch and scale their businesses, creating over 10,000 jobs worldwide.

  • Pantera Capital is an investment firm focused exclusively on Bitcoin, other digital currencies and companies in the space. Bitcoin is an entirely new thing – a “post-currency” ledger – that is borderless, secure, low-cost and which allows virtually instantaneous payment and transfer. The company believes that Bitcoin has the potential to transform the way people use money, and that it will do for payments what the Internet has done for communications and commerce.

  • Founder Collective is a seed-stage venture capital fund, built by a collection of successful entrepreneurs, providing the first professional round of capital to promising entrepreneurs with compelling business concepts. Founder Collective is focused on helping the next generation of great entrepreneurs build important and lasting businesses. Founder Collective focuses on technology-driven companies across a broad range of industries.

  • The most powerful ideas, companies, and industries aren’t created overnight. With a community built on collective experience and fueled by curiosity, Slow understands the entrepreneurial journey. Investing at the center of technology and on the edges of science, society, and culture, Slow gives founders the resources, connections, experiences, and empathy required to build strong, sustainable companies.

  • Brian Armstrong is the Chief Executive Officer and Co-founder of Coinbase, the world’s leading digital currency exchange. As CEO, Mr. Armstrong is responsible for Coinbase’s retail and institutional arms and all products and services that are developed by both trading platforms. Mr. Armstrong co-founded Coinbase in June 2012, and since then, has been responsible for introducing much of America and beyond to cryptocurrency. Mr. Armstrong has led the team, now at over 200 employees, through over $200M in funding from leading investors such as Andreessen Horowitz, IVP, USV, DFJ and NYSE. Since co-founding the company, Mr. Armstrong has led Coinbase to serve over 10M customers across 32 countries, providing custody for more than $10B in digital assets. Mr. Armstrong was listed as Fortune 40 under 40 and Recode 100 in 2017.

  • FBG Capital is a crypto hedge fund and venture capital firm based in Beijing, China. They invest exclusively in digital assets via venture investments or ICO.

  • Huobi Capital is the investment arm of Huobi Group, focusing exclusively on ventures and projects related to blockchain technology, digital currency, and crypto assets. Blockchain is not only an innovative technology, but also a disruptive tool for social transformation. They provide Huobi ecosystem rich resources to blockchain projects including Huobi exchanges, Huobi News, Huobi Labs, Huobi Mining Pool, Huobi Eco Fund, Huobi partners’ resources and etc.

  • Spartan is a leading blockchain advisory and investment firm. Combining deep connections in both the crypto world and traditional financial industry, Spartan Group is able to provide solutions and capital to help early and later stage companies to leverage blockchain technology to drive disruption across industries.

  • Nima Capital is a crypto venture fund based in New York, NY. Nima takes a global approach to identifying companies with impressive characteristics that use technology to disrupt large, global industries.

  • Skunk Capital connects ambitious technology teams with the capital, resources and connections they need to accelerate the execution of their visions. Inspired by the brazenness of experimental departments in the early days of the aerospace industry, Skunk Capital breaks free from orthodox paradigms of capital formation and allocation in order to help projects deliver radically new technologies that will change the world.

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