Ampleforth (AMPL) is a decentralized financial ecosystem built on the Ethereum blockchain. It is designed to provide a foundation for the digital economy by using a price-stable but supply-volatile mechanism. AMPL targets a CPI-adjusted dollar and is used as a unit of account and collateral asset .
Ampleforth uses an elastic supply mechanism known as "rebasing" to maintain price stability around an adjusted CPI value. The protocol automatically increases or decreases the circulating supply of AMPL tokens based on the market price, which occurs once daily. This adjustment ensures that the price of AMPL reverts to its target, without reducing holders' proportional ownership of the total supply .
Ampleforth has several potential use cases in the realm of decentralized finance (DeFi), including:
Ampleforth was founded in early 2017 by Evan Kuo and Brandon Iles. The platform aimed to create a self-sustaining unit that retains purchasing power over time. Ampleforth raised about $10 million through initial coin (ICO) and exchange offerings (IEO). It was launched in June 2019 and has since formed partnerships with platforms like Uniswap and Chainlink .