In the first piece of this series, I discussed how $AMPL was the first to kick off the DeFi Summer of 2020.
Today, I’ll discuss the consequences this had and what makes $AMPL a legendary token to interact with.
This piece is jam-packed with great info and stats you’re not going to want to miss. Get comfortable. And let’s get started.
Uniswap & $AMPL — The Dawn of a New Age
The first great $AMPL expansion was the first real stress test for Uniswap. Back then, (in June/July 2020), the amount of tokens at Uniswap was not even remotely close to today’s number.
Let alone tokens with liquidity mining programs!
…
Do you remember the DeFi Summer of 2020?
I know I sure do.
It was a historic moment in crypto history. It was the start of the DeFi revolution. And it put crypto in the spotlight. Bringing many new entrants and big money into this space.
See where it all kicked off? See what happened in the months following?
That’s why the DeFi Summer of 2020 was such a big deal. And that’s why there’s all this chatter of a potential DeFi Summer 2021. Or, as some people like to call it, DeFi Summer 2.0.
But how did it all…
1. Fragments
Prior to founding Ampleforth, Evan Kuo was the CEO of a San Francisco venture-backed pizza-on-demand startup called Pythagoras Pizza.
And oh boy did Kuo love pizza:
Not only did Kuo love pizza, but he was also a huge advocate for Bitcoin, digital currency, and the cryptoeconomic systems that blockchains and digital currencies could enable.
So, as a bright, young, and valorous entrepreneur who is passionate about pizza and cryptocurrency, Kuo combined his passions to create a new digital currency called “Fragments” — a type of stablecoin that would be linked to the valuation of Pythagoras Pizza itself.
His plan was…
On June 9, 2021, El Salvador became the first country in the world to officially adopt Bitcoin as legal tender, making it an official currency of the country alongside the US Dollar.
The announcement came shortly after the Bitcoin 2021 conference in Miami where Jack Mallers, founder of Strike, announced that his company was working with the nation’s President, Nayib Bukele to implement a plan.
Following the initial announcement, President Bukele introduced a bill to make it happen in which the legislature overwhelmingly voted in favor to adopt Bitcoin.
$BTC in El Salvador
Could one see this coming?
Yes.
During the Ampleforth “Office Hours” (a live AMA) held on May 19, 2021, there was a lot of talk about $AMPL expanding beyond Ethereum with a Multichain Bridge.
In fact, one of the major talking points was about a test bridge for cross-chain $AMPL between Ethereum and Binance Smart Chain (BSC) on a live testnet.
Fast Forward to the most recent “Office Hours” held on June 2, 2021, and we saw Nithin Krishna, a core software engineer at Ampleforth announce:
$AMPL on BSC is ready to go and should be live within the next…
It’s time to put together common misconceptions about $AMPL and clarify them once and for all.
1. $AMPL is pegged to the dollar
This is false. $AMPL is not pegged to the dollar. In fact, $AMPL has no peg at all.
This is what really confuses people.
Instead, $AMPL targets the purchasing power of a CPI-adjusted 2019 US Dollar. (more on CPI)
You can find the CPI-adjusted 2019 US Dollar price target on the Ampleforth dashboard: www.ampleforth.org/dashboard which is currently at $1.039.
The price target is not fixed, because the dollar is inflationary, which causes the CPI-adjusted 2019 Dollar price target to shift.
By targeting the CPI-adjusted…
$AMPL sub $1.00 is not a pleasant experience for those who are in it for a quick game.
What’s a negative rebase?
A negative rebase is a supply contraction. This means you’ll end up with lesser $AMPL tokens in your wallet the very next day.
Sounds bad right? It’s not as bad as you think if you are into $AMPL long-term. I wrote a piece on why you should not worry about this too much.
Given that, let me explain in detail why people will want to buy $AMPL sub ~$1.00.
$AMPL Sub $1 Target Price is a Cheap $AMPL
For those who truly understand $AMPL and are in…
On May 19, 2021, the Ampleforth team held a live AMA dubbed “Office Hours” on their general Discord channel.
Hosting this session of Office Hours from the Ampleforth team side of things was Brandon Iles and Evan Kuo — Founders of Ampleforth, and Richy Qiao — Operations and Business Development at Ampleforth.
Joining the Ampleforth team in answering questions was Nithin — a blockchain developer and Xiaohan Zhu — CEO and Co-Founder of Meter Passport. These two individuals were part of this session of Office Hours because of their involvement with the $AMPL multichain bridge.
The “Office Hours” AMA is…
$AMPL is not an easy nut to crack.
That’s why I wrote these two guides: Technical Guide to $AMPL for Beginners and Non Technical $AMPL Guide for Beginners. Be sure to check those out if you want to better understand $AMPL.
As for today, I wanna briefly talk about three prominent crypto leaders that get $AMPL.
Brian Armstrong
This man needs no introduction… but I’ll do it anyway.
He’s the co-founder and CEO of Coinbase, the largest cryptocurrency exchange in North America and the first to go public.
He’s an OG Bitcoin investor and proponent for revolutionary cryptocurrencies and blockchain technologies… probably…
This article is a collection of common non-technical questions on $AMPL and my honest answers to them.
1. Why would you want to buy $AMPL in the first place?
This one is probably the most asked one on $AMPL Discord.
People are familiar with buying tokens that appreciate in price like $BTC or $LINK… because it’s easy to understand — you put money in, the price goes up, and in simple terms — you end up having more money than you put in…or less.
This is how we are taught when it comes to investing.
Can’t blame anyone. No doubt that pretty much no one understands why anyone on earth would buy…
