Ampleforth (AMPL) Now Live at DeversiFi

Ampleforth (AMPL) Now Live at DeversiFi

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!

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News


Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrencies continue to make headline news around the world as the total market cap surpassed $2 trillion on Monday. Supported by increased interest from institutional investors, celebrities, and retail investors, digital coins are now worth more than Apple Inc. Bitcoin has, once again, played a major role in the sector’s market cap. The world’s first […]

6 April, 2021
Digital Currency,Ethereum,Stablecoin

VISA Set To Support Cryptocurrency Settlements

The global payments corporation, VISA, announced on Monday that it is making preparations to allow USD Coin (USDC) to settle transactions within its network. This move is being viewed by industry analysts as yet another clear sign that cryptocurrencies are being accepted by major institutions within the traditional financial industry. USDC was selected by VISA […]

30 March, 2021

CasinoFair Temporarily Shuts Down Amid Network Congestion

The popular cryptocurrency casino, CasinoFair, has announced in a recent blog post that it will be temporarily stopping its gaming services. Citing unsustainable congestion on the Ethereum network as the main reason for this pause, the casino reassured its players that it is “actively researching solutions and hope to be back with a new range […]

26 March, 2021

Significant Bitcoin Drops As Coinbase Announces IPO

The cryptocurrency market is back in turmoil following yet another volatile week where Bitcoin almost reached a record-breaking value of $60,000. Bitcoin drops are nothing new, but the recent 25% decrease has caused panic amongst even traders with an experience of major currency fluctuations. The latest drop comes as Coinbase, one of the world’s largest […]

1 March, 2021

Trezor Warns Users About Fake Mobile App

Trezor is warning users of a malicious mobile application featured on Google Play which appears to be associated with the wallet provider. At least 1,000 users have already downloaded this software, and it is likely that some have unwittingly provided their seed phrase to unlock their funds. Both Trezor and SatoshiLabs have confirmed the existence […]

26 January, 2021

eToro Temporarily Raises Minimum Deposit To $1,000

For the past few weeks, the increase in Bitcoin’s price has led to a massive interest in cryptocurrency trading. eToro has been overwhelmed by new registrations and has decided to temporarily raise the minimum deposit from $200 to $1,000. Although 2021 has barely gotten started, it promises to be an exciting time to invest in […]

11 January, 2021

Global Cryptocurrency Market Value Surpasses $1 Trillion

Thursday has proven to be a monumental day for cryptocurrencies as the world’s combined value tops the $1 Trillion mark. Energised by a substantial rise in the value of Bitcoin in recent months, the volatile crypto market has reached a once-unreachable value. Following the latest Bitcoin Halving in May 2020, the world’s largest digital token […]

10 January, 2021

Victory over virus: SiGMA Virtual Expo hosts 100+ exhibitors

SiGMA Europe and AIBC Virtual Expos launch with record breaking attendance, providing a cure to the industry’s events sector In the light of this year’s changes in our everyday lives, SiGMA was close to having to stop doing what it does best; creating networks for people through the company’s iconic physical events, but luckily, the […]

26 November, 2020