$AMPL is Coming to Binance Chain

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 two weeks. We are wrapping up some final testing.

Exciting times!

While these recent discussions divulged the ongoing plans of bringing $AMPL to Binance Chain, the first community discussions around a multi-chain $AMPL started back in September 2020.

Going back even further, the co-founder of Ampleforth Brandon Iles shared his vision for a multi-chain $AMPL before it was even live in February 2019:

That said, multi-chain $AMPL is a long-time in the making and the time has finally come to make it a reality.

$AMPL Everywhere is Inevitable

Ampleforth is building new money that aims to eventually become a medium of exchange, and for this, you want it to be everywhere.

And since Ampleforth subscribes to the theory of a multi-chain world, $AMPL wants to be on every chain; be it layer-1 chains, side chains, chains on top of chains… every chain.

That said, Binance Chain is not the first chain (besides Ethereum) where $AMPL will be present. $AMPL will be on other layer-1’s too; like Polkadot, Cosmos, Fantom, Solana, Cardano, etc., and on side chains like Polygon’s Matic and more as they develop.

However, while $AMPL will exist on all these different chains, Ampleforth’s Monetary Policy, Oracles, and Governance modules will exist on Ethereum for as long as it’s the chain with the highest level of security and decentralization.

Ethereum today has the highest level of decentralization, enough usage to guard against 51% attacks, and has the most active community and developers than any other blockchain.

As for the $AMPL token contracts on other chains, they will share the same supply pool, they will be fungible with each other, and they will be governed by the same monetary policy.

That said, there will only be one Ample ($AMPL), but it will be everywhere.

“By deploying on many chains, we can leverage the benefits of every platform as needed and be anywhere anyone is storing value or making a transaction.” — Brandon Iles

$AMPL on BSC

“$AMPL on BSC is ready to go and should be live within the next two weeks. We are wrapping up some final testing.” — Nithin Krishna

As you may already know, the test bridge for cross-chain $AMPL between Ethereum and Binance Smart Chain testnets has been live since April 2021 and is open for anyone to test it out.

You can interact with the testnet bridge either through the Ampleforth UI or Meter passport’s UI here:

Take Note:

  • To play with this cross-chain test bridge, you will need some testnet AMPL (Ropsten). You can get those by asking @Poe Mander @Timo K or @Sen for some in Discord.
  • You will also need some testnet ETH which you can get here: https://faucet.ropsten.be/ and the Ropsten AMPL contract address is: 0xd0e9335817f7b7c2567b784fd55b203697177e2a.

The reason for the two UI’s is because the multi-chain bridge was built by Nithin Krishna in collaboration with Xiaohan Zhu, CEO and Co-Founder of Meter Passport — a blockchain infrastructure project that allows smart contracts to scale and travel seamlessly through heterogeneous blockchain networks.

Meter Passport is EVM compatible and is the validator for the Ethereum and BSC multi-chain bridge, which is an n-way POA blockchain bridge that allows $AMPL to be transferred between any two connected blockchains.

Currently, this bridge only supports Ethereum and BSC but according to Xiaohan, support for others is easy.

In the Ampleforth Office Hours, Xiaohan was asked if this bridge can easily add support for other blockchains such as Polygon and Fantom.

In response he said:

“Yes, they all can be done very quickly, mainly based on community needs.”

That said, multichain $AMPL can already become reality. Therefore, when the time arises it will be ready.

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