What Is Ampleforth

What Is Ampleforth

In todays blog I thought I would go over one of the two main currencies used on publish0x. See before using publish0x I never even heard of this cryptocurrency. So this got me intrigued to look into what exactly this cryptocurrency was and what’s its purpose and utility. I’m sure the same goes for many of you too. So that’s why in this post where going to go into what is ampleforth.

Why Was Ampleforth Created

Ampleforth was created to be an alternate to a stable coins that are usually pegged to a fiat currency. Instead this coin is a stable coin that has an algorithm that fluctuates the supply based on demand. This allows for steady growth and a guaranteed profit if you plan on long term investing this coin. This makes it a better alternative to other stable coins where you won’t see profits holding those coins like tether and USDC. Where as those coins are prone to inflation ample isn’t since it’s not backed by fiat.

How Does Ampleforth Work

So for this coin to make profit and to be stable it needs to not fluctuate the price to much. So how they go about doing this is they use an algorithm that monitors the price and creates a supply based on the demand for the coin. These supply adjustments are called Rebases. A rebase occurs once per day. So when the price is high for the coin more coins are made and supplied. When the price is low coins are burned it hopes of driving the price up. This coin also allows for…