What is the Ampleforth Network?
Ampleforth’s idea arises from two things that cryptocurrencies seek to transform; Money and Banking. The founder of this project (who you will meet later) argues that of the two, restoring money is easier than rebuilding the banking system.
The value of Fiat currencies, like the US dollar, depends on demand for it; Printing regulates supply according to the international demand for Fiat currencies. But there are two problems here: the money supply can increase with more printing. This reduces the value of that currency. On the other hand, because man prints money, he may do it wrong or become corrupt.
Demand for a particular currency is likely to fluctuate. Demand for different currencies changes over time and is affected by factors such as recession, technological advancement, and so on. This change in demand for assets whose supply is almost constant is fully reflected in the value of that asset; Bitcoin, gold and silver are among these assets; The more complex this asset is with a fixed supply system, the more likely it is to fail in the eyes of the founders of the Ampleforth network; The Ampleforth project has a new look at money and has been very innovative in this area.
The network is implemented on the Ethereum blockchain and its native AMPL token is built to the ERC20 standard. The AMPL token was created to solve this problem and automatically adjusts supply to demand, without the need for a central bank or authority. The native amplifier network token has been created as the simplest solution to the supply flexibility problem. The Ampleforth network adjusts supply to market conditions on a daily basis.