Review on Ampleforth by Olugbenga Ajayi
Ampleforth is a dynamic crypto project
Ampleforth aim to solve a problem that started many decades ago when flat currencies replaced the gold that was being used as a legal tender. Although flat currencies has many characteristics, it lacks other characteristics inherent in gold.
In other to solve these problem ampleforth provide a synthetic money that can be as dynamic as elastic that it will respond quickly to changes in demand and supply of its token AMPL.
The ICO of its token ( AMPL) which is an erc-20 token based on ethereum blockchain took place in 2019 in which 50,000,000 supply was made. The token supply is is able to grow and shrink as demand and supply grows and shrink thereby leading to an equilibrium.
The token is useful for collateral for decentralized banking system. It can be used as base currency for the crypto economy. Experts in crypto currency already forecast that if amoleforth succeed in accomplishing its promises, it will surely catalyze the ethereum and make it most widely adopted.
However, as good as the project looks, it is still new and has hardly been tested. Only time will tell if it will really achieve all.
Pros
- Ampleforth is a project that help curb the volatility in the crypto market
- It eliminate excess and scarcity of it's token
- It is a good alternative base currency for the economy of crypto currency
- The token (AMPL) will continually retain its economic value
- AMPL is not correlated in any way to other crypto
- It is usable as a means for exchange and can also be used as collateral in decentralized banking sectors
Cons
- Since it is a new project, only future will tell if they will be able to accomplish all they promised
