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– TIMESTAMPS –
1:49 Bitcoin as a Medium of Exchange?
4:45 What is Ampleforth?
6:16 Benefits of Ampleforth
9:05 How Ampleforth Works
11:45 Hodling AMPL
13:25 Liquidity Mining
⛓️ 🔗 Useful Links 🔗 ⛓️
► Ampleforth Website: https://www.ampleforth.org/
► Whitepaper: https://drive.google.com/file/d/1I-NmSnQ6E7wY1nyouuf-GuDdJWNCnJWl/view
► Github: https://github.com/ampleforth
► Systemic Risk: https://www.investopedia.com/terms/s/systematicrisk.asp
► The Geyser: http://ampltalk.org/app/forum/ampl-geyser-19/topic/about-the-geyser-21/
🐢 Bitcoin Struggles 🐢
Bitcoin cannot be used as a medium of exchange because it is not easily scalable. This is known to be a challenge and currently the only ways in which this can be overcome is through the use of offchain scaling solutions. But these are also not that effective.
The other challenge that is hampering Bitcoin’s adoption as a medium of exchange is its limited supply and lack of inflation. This means that the asset becomes that much more scarce and people are less likely to use it. People will just hodl it as if it were gold.
Inflation is not the biggest risk to fiat money. It is rather who is in control of that inflation. In the case of of the central bankers, they can control the money supply and hence determine just how much inflation there is.
🤔 What is Ampleforth? 🤔
It is a first of its kind cryptocurrency that is designed with completely elastic supply. The protocol is designed to adjust the supply in order to meet the increasing demand. This is done in order to keep the price stable and targeting a specific price. But, and here is the kicker, it is non dilutive.
The issuance of the new supply is done to every wallet pro-rata on the Ampleforth network. This means that if you hold a certain percentage of the supply before a supply adjustment, you will hold the same percentage after the adjustment. It is all controlled programmatically through the use of smart contract technology.
💯 Benefits of Ampleforth 💯
Firstly, they would like to denationalise money. They are trying to take money supply out of the hands of national governments and central bankers and place it into a smart contract. This eliminates the issue of trust that many people have with seedy central bankers.
Another benefit is the stability. Given that supply reacts to demand, we are transferring any price volatility to supply volatility. Through sound economic principles, an increase in the supply should decrease the price and vice versa for a fall in supply.
This stability has an important benefit for the diversification of crypto. Given that many crypto assets are highly correlated, this is a risk if they all move together. AMPL is not that correlated which means that it could act as a stabilising force in the DeFi space.
💸 How To Benefit from AMPL 💸
There are two ways to take part in Ampleforth. The first is to buy the token and just Hodl it. AMPL is listed on a number of centralised exchanges although the bulk of the liquidity is taking place on Uniswap. As the price is different from the peg the supply will react in order to meet a balance.
The other way that you take part in AMPL is by supply liquidity to the Uniswap AMPL ETH pool This will not only earn you some of the trading fees that the liquidity providers earn but you will also earn Liquidity Pool tokens that you can stake on the Uniswap Geyser.
Those who provide more liquidity and for a longer time will earn more of the returns. If you hold the tokens in the Geyser for over 2 months then you will have a 3X multiplier on your funds.
You should of course be aware of the risks that come from running a pool on Uniswap. One of the most telling risks comes from not being in control of the ratio of tokens that you are supplying. This is called impermenant loss.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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