Ampleforth (AMPL) Now Live at DeversiFi

Ampleforth (AMPL) Now Live at DeversiFi

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

DeversFi are continuing to improve their platform for traders amid the current global turmoil with the addition of Ampleforth (AMPL) being added to their service.

While some firms are slowing down the updates to their platforms while the market is in such disarray DeversiFi has used their time efficiently and added the AMPL token to their platform. The asset which operates on an elastic supply policy, known as “Amples” or 2AMPLs”, is now officially live for traders who will be able to trade it directly from their private wallets. These can be accessed by locking AMPL or USDT tokens in a DeversiFi smart contract. By opting to do so on their platform, the best prices, fast speeds and deeply liquid order books will all be guaranteed.

For some background on Ampleforth, it is described as a “synthetic commodity money” which works around the Ampleforth Protocol. This seeks a continuous “price-supply equilibrium” and if it is not in one at any given time, then it will enter into a state of unrest in the pursuit of it. Specifically, . “If the daily average trade-weighted price of AMPL tokens deviates from the CPI (Consumer Price Index) adjusted price of one USD, then the global supply of AMPL tokens changes, placing pressure on price”.

While this may sound like a bit of a confusing concept with a lot of technical syntax, the aim of the protocol is simpler and shares that of most other cryptos. Namely, the protocol aims to eventually replace global money. This is the long-term plan at least, with the short-term plan being slightly different. This is acting an asset that can be used as crypto portfolio diversification and as a way to combat volatility and uncertainty on the market. Both of these pursuits they are well on their way to achieving.

Speaking about the listing of the token on DeversiFi, – Will Harborne, Co-founder and CEO of the platform explained, “Ampleforth is a fundamental economic experiment which would only be possible on a blockchain. DeversiFi’s goal is to give our customers access to exactly these sorts of unique opportunities so that they can profit from the explosive growth of DeFi.” Hence why the asset was chosen to be added to the platform at this time.

In terms of those interested in investing in the token, there is one more element of the product that needs understanding. This is the AMPL rebase window which is a daily occurrence. This refers to the aforementioned elastic supply protocol. As a result of this, tokens in wallets will be reduced or expanded every single day at around 2:00 AM UTC. Whether they grow or deplete will be reflected in the price change of AMPL over that 24 hour period in the reflection of the price of the dollar.

DeversiFi is currently the only platform currently aggregating both centralised and decentralised liquidity. As a result of this, the way this daily rebase will work at Deversifi is as follows:

  • AMPL/USDT trading will be paused. Open (active) AMPL/USDT orders will not be able to be cancelled until the end of the period and no new orders will be permitted
  • AMPL deposits/locks and withdrawals/unlocks are still available via the UI up to the amount of AMPLs the traders does not have committed in open orders
  • After the rebase at c. 2.00 AM UTC, if a negative rebase (downward adjustment in a trader’s balance) occurs that results in the trader not having enough AMPL tokens locked in the DeversiFi smart contract to cover the entire amount of their orders, then their orders are partially reduced to the point the sum of the new orders matches the amount of their AMPL tokens locked.

Got to DeversiFi now and start getting involved!

Recently Similar News

Latest Guides

Latest News

Changelly,Cryptocurrency,Trading

Changelly Helps Users Discover Where They Can Store Polkadot (DOT) Tokens

The Changelly blog has written an article helping their users determine the best places for them to store their DOT tokens. Changelly, the online cryptocurrency exchange, has created a new blog post to help users figure out where the best place to store their Polkadot (DOT) tokens. Polkadot (DOT) was created  by one of Ethereum’s […]

19 October, 2020
BitPanda,Cryptocurrency,Trading

BitPanda Announced the Launch of Their Own Cryptocurrency Index

BitPanda, the online cryptocurrency exchange, is launching what they call the first “real” cryptocurrency index. BitPanda, the large online cryptocurrency exchange platform, is launching what they say is the first “real” crypto index, which will be available on the BitPanda platform. BitPanda’s cryptocurrency index is very easy for its users to use and is completely […]

19 October, 2020
Binance,Bitcoin,Blockchain,Cryptocurrency

Binance Announced Two New Launchpad Project Partnerships This Week

Binance, the largest online cryptocurrency trading platform, is adding two new projects to the Binance Launchpad for user funding. Binance, the world’s biggest cryptocurrency exchange, is launching their first joint token offering from Binance Launchpad and Binance Launchpool, and is also releasing an additional Launchpool token. In their weekly report, Binance highlights other key factors […]

19 October, 2020
Bitcoin,Investment,Trading

Publicly Traded Companies Now Own $6.7 Billion Worth of Bitcoin

Some of the largest companies in the world are now starting to buy and hold Bitcoin, with over $6.7 billion in total Bitcoin owned amongst publicly traded companies. Companies such as MicroStrategy and Square have been in the news lately for their large acquisitions of Bitcoin ranging from 50 to 100’s of millions of dollars […]

19 October, 2020
Cryptocurrency

Kraken Announces Integration of Filecoin (FIL) Trading on Their Exchange

Kraken, one of the largest online cryptocurrency exchanges, is launching trading for Filecoin starting on October 15th. Kraken, the online cryptocurrency exchange, has announced their latest exchange addition with the ability for their users to start trading Filecoin (FIL) starting on October 15th. This is a mainnet listing, not a recent addition, meaning that trading […]

19 October, 2020
Bitcoin,Blockchain,Cryptocurrency

What is the Intrinsic Value Of Bitcoin? Kraken Intelligence Explores

Kraken Intelligence, the research arm of the Kraken cryptocurrency exchange, tries to identify the intrinsic value of Bitcoin. Many people question what the intrinsic value of Bitcoin is, and Kraken Intelligence, the intelligence wing of the Kraken crypto exchange, works on answering this question. Although it is hard to precisely define the entire intrinsic value […]

19 October, 2020
Binance,Bitcoin,Cryptocurrency

Binance Partners With Alpha Finance Lab to Give Away $3,000 in ALPHA

Binance, the largest online cryptocurrency exchange platform, has partnered with ALPHA to giveaway $3,000 of their native token via lottery numbers. Binance, the worlds largest online cryptocurrency exchange, has partnered with Alpha Finance Labs to give away $3,000 worth of ALPHA during their token sale taking place on Binance Launchpad.  All you have to do […]

19 October, 2020
Blockchain,CoinMarketCap

CoinMarketCap Launches CoinMarketCap Earn Campaign With Terra Money

CoinMarketCap, the largest online cryptocurrency market capitalization aggregator, is partnering with Terra Money to give away some of their native tokens through an earn campaign. CoinMarketCap, the world’s largest crypto market cap aggregator, is launching their latest earn campaign with Terra Money in order to give tokens to users who learn about the platform. Users […]

9 October, 2020