It’s been just over 60 days since Ampleforth’s $AMPL token went live. The day AMPL went live, it was functioning and performing as designed: Differently. That difference in performance has led to a number of other projects and platforms taking notice. This is a quick recap of the projects that have begun to work with AMPL and some of the rationale as to why this is likely to continue.
From the beginning, the medium-term use case for AMPL was thought to be as an interesting asset for use as collateral. This has turned out to be a bit more accurate and a bit more expansive than initially thought. The DeFi space has started to integrate AMPL into their platforms at a much faster rate than originally anticipated, turning the AMPL medium-term use case into something that is being actively realized now.
In just 60 days, there are four milestones we’ve accomplished with respect to our medium-term use case and DeFi:
- Added to Bitfinex as one of four assets to use as collateral for margin trading
- Included as one of 12 assets to vote on for inclusion in Compound
- Added to Uniswap
- Added to Bancor
These four milestones happened for Ampleforth because AMPL is different: AMPL behaves uniquely from other assets. This uniqueness results in performance characteristics that cause outcomes for DeFi instruments which give choice to the participant. Participants benefit from choice as it provides them with the tools they need to best achieve their desired portfolio and performance outcomes. As a result, AMPL’s have made significant headway in just 60 days.
For example, when it comes to Bancor and Uniswap, there’s an AMPL arbitrage opportunity every 24 hours. This is the result of the supply rebases which effect every AMPL wallet equally, every day at 4pm EST.
This daily rebase also creates a reason for borrowers to borrow on Compound. There are far more lenders than borrowers in the DeFi space. AMPL provides a new instrument, in part due to the daily supply rebase for all wallet holders. More details are available on why AMPL is a new instrument on Compound from Ampleforth’s CTO Brandon Iles HERE.
On Bitfinex, Ampleforth joins Stellar, Cosmos and Tezos as collateral for margin trading. This is a significant validation of the medium-term use case on an extremely well-known exchange. Because Ampleforth is different, it allows people a totally new profile for an asset to use as collateral, something which may continue to happen on other platforms in the future.
AMPL is Different and functions as a brand new instrument. The uniqueness of AMPL offers DeFi participants choice so that they can better achieve their portfolio and performance goals. In the first 60 days, Ampleforth is off to a great start by joining 4 platforms and giving participants more choice.