Ampleforth is a new innovation developed on top of the ethereum layer. Fast fluctuation or high volatility make cryptocurrencies unacceptable to the general public. Ampleforth technology introduces an elastic financial system. What is meant by elastic. When you have a number of AMPL tokens in your wallet or exchanger, the value will be fixed. Ampleforth token will adjust its value according to the target price.MPL’s smart contract increases or decreases the total supply automatically based on the target price, between $1.06 and $0.96—a process called “rebasing.” If the price drops, the system will burn the excess tokens throughout the wallet so that the price will adjust to the target price. If the price exceeds the target, the system will print a token to approach the target price.
Ampelforth is indeed made to be a stable coin. When you have a token worth 1000 dollars, you don't have to worry about your money going down in value. Your money will remain in value. Ampleforth is fiat on the blockchain even better because its value is fixed even if the number of tokens in the wallet increases or decreases. This is money that can be saved without expecting any added value. To increase value or get added value by saving AMPL tokens, you can join the geyser program.Geyser enables users to stake their AMPL to provide liquidity on Uniswap, giving some utility to the token.
Is AMPL token suitable for daily spending?
Because of the fixed value of AMPL token, the token is great to be real currency. Merchants, services and retailers can accept AMPL token as the money. If you use bitcoin for shopping, sometimes you will regret it when the price of bitcoin soars after you release your bitcoin. However, with AMPL token you don't have to worry about the price change because AMPL token is a stable coin.
