Ampleforth Wins (Quant)Stamp of Approval: Announce Data Provider Partnership
Quantstamp to provide trusted data feed for Ampleforth’s price oracle system
Ampleforth and Quantstamp
In an important step towards further decentralization, Ampleforth is excited to announce a partnership with Quantstamp, a Y-Combinator alumnus and leading blockchain smart contract auditor.
The partnership has already proven beneficial on the security component, with Quantstamp completing an audit of Ampleforth’s repository on June 13th, where Ampleforth’s code, written by engineers with experience from Google, Uber and USC was shown to have no issues.
Quantstamp will provide data feeds to Ampleforth’s price oracle in order to provide a secure and reliable price feed for Amples, a smart commodity money.
What Are the Details of the Partnership?
Beyond Quantstamp’s evaluation of the Ampleforth repository for security-related issues, Quantstamp will be a trusted data feed of AMPL’s price information to Ampleforth’s oracle.
As a politically-independent digital currency with a dynamic supply, AMPLs rely on secure and accurate market oracles for supply adjustments. Independent, whitelisted data providers broadcast 24-hour volume weighted average price (VWAP) to an on-chain aggregator, which then smartly adjusts expansion or contraction of the token everyday at 4PM eastern.
Quantstamp is a leader in smart contract security. They perform in-depth audits of blockchain systems to identify security vulnerabilities and then rectify them with their clients. From a code security perspective, a partnership with Quantstamp ensures that the Ampleforth protocol is built upon a foundation that clears the most rigorous security standards.
Brandon Iles, CTO of Ampleforth said “Quantstamp has proven themselves to be of the highest standard and quality. This ensures that we are creating the strongest launchpad to release one of the most powerful and secure financial instruments ever offered on the blockchain. Richard and his team will be integrating into our ecosystem to provide a robust and secure price feed for our price oracle.”
Richard Ma, CEO of Quantstamp says, “The importance of being AMPL’s inaugural supplier for price data is not lost on our team. It motivates us to continue improving our already heightened security standards to help make sure that AMPLs and their holders get the best and most accurate pricing at all times. The recent completion of their audit instills confidence that we will create the most secure, accurate, and dynamic price discovery system for Ampleforth and their token holders.”
More About Ampleforth
Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, FBG and Slow Ventures. For more information, please visit www.ampleforth.org or follow our Twitter or Telegram for the latest news and updates.
More About Quantstamp
Quantstamp is a Y-Combinator-backed blockchain security company that develops automated security tools. It is a leader in smart contract security. For more information, visit https://quantstamp.com or join them on Twitter or Medium for news and updates.