Review on Ampleforth by Gabriel Medina

Name: Ampleforth
Item: Ampleforth
Rating: 4

October 27, 2020

Non-dollar-backed stablecoin

During the last few days, all the views of cryptocurrencies have focused on projects that have to do with decentralized finance.
 Various protocols have introduced a new dimension of financial possibilities with interest rates based on supply and demand, flash loans, and crypto-secured stablecoins, respectively. Among them is this project that has attracted a lot of attention. Ampleforth (AMPL) is an open source blockchain project and cryptocurrency created on the Ethereum blockchain network, although independent from it and even compatible with others. The objective of the cryptocurrency is for it to be used as collateral for decentralized banking systems and as an alternative monetary base for the crypto economy. To curb volatility, an anti-cyclist policy has been implemented. The issuance of your tokens depends on your demand. The team seeks to keep the cryptocurrency priced at one dollar. To achieve this they must increase or reduce their supply according to the demand of the moment.
 This cryptocurrency seeks to be a means of exchange that scales as a supply to satisfy the demands of many users, guaranteeing and gaining the trust of the community with its benefits for the crypto economy. The downside is that it is not backed by the dollar, it is a normal cryptocurrency that plays with volume, therefore, it is not a stable currency even if it seems like it.
﻿
In general, it is a decentralized finance protocol that seeks to change the way money is designed outside and within the world of cryptocurrencies. Likewise, it addresses both decentralized and classical finance problems. Without a doubt, he has achieved the reinvention of money. In short, Amplefort introduced a promising and original concept that could change the financial world forever.
﻿

Pros