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
- An alternative to central-bank money, like bitcoin but macroeconomically friendly
Token Sale & Economics
- Project website: https://www.ampleforth.org/
- Project whitepaper: https://www.ampleforth.org/paper/
- Token sale start time: Jun 2019
- Ticker: AMPL
- Token type: ERC20
- Total hard cap: TBA
- Total supply: 50,000,000 AMPL
- Initial circulating supply: 10% of total supply
- Public sale token price: 1 AMPL = $0.98
- Public sale allocation: 10% of total supply (6% for public sale & 4% for pre sale)
- Private sale token price: 1 AMPL = $1.00
- Private sale allocation: 3.3% of total supply
- Private sale vesting period: 30% to be released before listing, then monthly vesting in 1 year after 4th month
- Seed sale token price: 1 AMPL = $0.33
- Seed sale allocation: 18.5% of total supply
- Seed sale vesting period: Locked first 6 months, then monthly vesting in 1 year
Token Release Schedule
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:
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.
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.
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