Review on Ampleforth by Fanuel PORPORTY
A cryptocurrency protocol with an offer that can adapt to the market. A major innovation capable of supporting adoption.
Ampleforth is a project that is reinventing money with its native AMPL token. Used as collateral for decentralized banking systems, ampleforth is an optimal system that establishes a stable medium of price exchange over long periods of time.
WHAT MAKES AMPLEFORTH UNIQUE AND USEFUL FOR THE ECOSYSTEM?
The Ampleforth project is unique compared to other crypto projects because of its distinction from other DeFi protocols, by its economic policy i.e. if the demand for AMPL increases, the supply of tokens also increases to compensate for price changes. .
Like the BTC, which represents a base for an ether-resistant censorship-resistant payment rail that has taken that base even further by enabling smart contracts. Thus the primary utility of AMPL is to serve as a medium of exchange. Unlike other projects, AMPL is an ideal asset for building a digital economy. It has the ability to be the perfect form of collateral for DeFi protocols. Remember that the essential aspect of Ampleforth is the market, not the founders or a government, which decides what form the offer should take.
LONG TERM OBJECTIVE
The long-term goal of the project is to provide an independent alternative to central bank money, but it must first gain the trust of users and prove its usefulness as a reliable medium of exchange and store of value. Ampleforth is not backed by anything, making it a more feasible long-term alternative to crypto stablecoins like DAI and perhaps even fiat-funded stablecoins like Tether.
Pros
- The specificity of the Ampleforth project remains its elastic monetary offer.
- Project highly valued in one month because of a mass movement
- Project followed and supported by several major players in the crypto industry.
- The Ampleforth Foundation is made up of engineers, academics, investors and enthusiasts.
Cons
- This system is complex, it is similar to a ponzi scheme because the first to arrive do not win especially on the backs of the last to arrive, as in a pyramid scheme
