Ampleforth Token Officially Launches on the Avalanche Network

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Ampleforth protocol’s DeFi-based token, AMPL, is now live on the fast-rising blockchain competitor of Ethereum, Avalanche, as confirmed by its development team, Fragments Inc.

According to Fragments Inc. CEO Evan Kuo, it is essential for DeFi protocols to establish a concrete financial structure that’s uncensorable, decentralized, and contains some elements of price stability and predictability, especially now that its regulatory landscape is made tumultuous by the SEC’s newly-granted authority over it and stablecoins.

The Ampleforth project has since been on the radar of many due to its immense revolutionary prospect as a decentralized alternative for stablecoins that could still be utilized on some of DeFi’s most appealing offerings, such as borrowing and lending.

Ampleforth’s rebasing framework, which most would say as its most exciting feature, adjusts the protocol’s total supply daily. AMPL holders could either have their tokens burned or added based daily on how AMPL performs. Simply put, users get more tokens the more the ecosystem of AMPL grows.

That added bit of consistency could go a long way on a space mainly known for its significant volatility. This has led many to believe that AMPL’s capability to remain as a non-governed decentralized model while establishing a price level and supply fluidity consistency would make it an appealing alternative to the traditional stablecoin model.

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