Ampleforth (AMPL) is one of the most sought-after cryptocurrencies since the beginning of the DeFi hype. However, few people know that it is a particular type of stablecoin whose goal is not to price growth, so AMPL is subject to enormous fluctuations. A new idea of money, flexible and stable at the same time. How does it work?
Ampleforth is not backed by USD or other assets but is based on an algorithmic adjustment of the supply of AMPL and thus remains “stable” in its purchasing power. This article will take a closer look at the project and its complex mechanisms because if you want to invest in AMPL, you should understand how the stablecoin works.
What is Ampleforth (AMPL)?
Ampleforth is Evan Kuo's brainchild, a go-getting Berkley graduate who has already attracted attention with innovative ideas and approaches. Motivated by his father's death, his goal was to create something that could last long after his death: Cryptocurrencies.
Instead of trying to reinvent the banking system, Kuo set out to reinvent money. Pantera Capital, Coinbase CEO Brian Armstrong, and Huobi enabled him to achieve this dream and established the Ampleforth Foundation. A jumble of geniuses from various industries that were to reinvent money.
