Fragments to Ampleforth: Thoughts behind the name change

This post is was originally sent to our subscriber list on 12/10/18. For realtime updates, please subscribe to our newsletter.

Hey Everyone, the Fragments team has been hard at work, and we have some important updates that we’re very excited to share with you.

The Elastic Supply Protocol

1. New Protocol

We have made significant changes to our protocol. Specifically, we’ve moved to a single coin system. There are NO BONDS and there is NO RESERVE. The policy now expands to and contracts from wallets directly and symmetrically.

This is something we thought deeply about and not a decision we made lightly. We believe this new symmetry in the protocol results in a healthier money that can fit sustainably inside any economic environment. Have a look at the website for documentation, and keep an eye out for deep dives in future posts.

2. New Name

We found that the new protocol behaves distinctly enough from the old one that it deserved its own name. Ampleforth is what we call the protocol, and the currency is called Amples.

3. Name Origin

Ampleforth is the name of a character in George Orwell’s 1984 who is responsible for translating poetry into Newspeak, a language designed to limit freedom of thought.

George Orwell — Author 1984

When tasked to replace the word “God” in a Kipling poem, Ampleforth refuses, not out of righteousness, or subversiveness, but rather, a simple love for language and respect for the truth. To Ampleforth, no other word makes sense in context and therefore no other word should replace it. We take inspiration from his love of truth, and innate strength in resisting propaganda.

Thanks for stopping by, there’s a lot more coming down the pipe soon so stay tuned :)