>$260,000 Market Cap
>Target Price is pegged to 0.01g of Gold (currently $0.63)
>Random rebasing between a period of every 12-36 hours
>Project just went through a soft relaunch with a very active and engaged team
Ample Gold ($AMPLG) is a supply-elastic, non-dilutive collateral asset that adjusts supply based on gold- equal to 0.01 gram of gold. The gold index used is PAX Gold (PAXG) a digital asset created by Paxos which is where 1 PAXG token is backed by 1 troy ounce (31.1035g) of a 400 oz London Good Delivery gold bar. The DeFi space needs a collateral utility that can be used as a store of value and a hedge against periods of high inflation in the global economy.
Why The Gold Standard?
The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.
The gold standard is not currently used by any government. This has allowed the wealthy to benefit from inflation and monetary crises due to trickle-down economics.
Elastic and Non-Dilutive
"AMPLG combines the best of Bitcoin and stablecoins, and tethers it to gold. It is an inflation hedged, decentralized primitive."
AMPLG's smart contract design allows the automatic increase and decrease of supply based on market conditions. This means that the number of AMPLG tokens you own fluctuates, thus confirming the elastic property. The supply adjustment operation happens universally across all AMPLG token holders. So while the number of tokens have changed, the value stored is not diluted. This supply adjustment operation is called a rebase and creates a fairer monetary system.
Randomly Rebasing Algorithm
A fixed time or interval-based rebasing will introduce predictability into the supply adjustment. To avoid such predictability and potential price manipulation and exploitation, Ample Gold implements a random mechanism that adjusts its supply at a random time from 12-36 hours after the last rebase. This will converge to an average of 365 rebase events per year.
Our ultimate goal is to serve as a hedge to inflation of the US dollar
Our relaunch which includes a new website, Roadmap and marketing campaign you can read about here: https://medium.com/@amplegold/amplegold-relaunch-announcement-f2d7b09b3ed0
Where to buy:
https://uniswap.info/token/0x8003c49f6ebacddc493ea47cab45e892d1b638a1
Website:
https://amplegold.io/
Twitter:
https://twitter.com/amplegold
Telegram:
https://t.me/amplegold
Here:
https://www.reddit.com/r/amplegold/
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