Literally a non collateral backed "stablecoin" , where if this grows (spoiler, it's going to explode), and you take a % slice now, then it prints supply - TO YOU, as it grows to match demand and a new higher market cap.
$AMPL Printing 101. Lets simplify the math:
If the market cap was $100m , with 100million tokens at $1 each, and you bought $10k - so 10k AMPL tokens - so 0.1% of the supply.
Then for just 60 days it rebases at 5% (and then settles back down to $1 on the 60th day), then the total amount of tokens inreases to 1.8 BILLION (the magic of compound interest( and market cap is $1.8 billion.
And you are part of it, you are not buying an amount of tokens but a % of supply - you STILL have 0.1% of the supply now worth $180k.
YOU ARE PART OF IT, YOU ARE THE $AMPL FED RESERVE.
Ampl is the most fun crypto to own when it’s like this.
Jace King
What’s the tax situation on rebases? Never got a clear answer
Dominic Garcia
Not considered an airdrop, AFAIK.
Aaron Howard
who pumps it when it goes under a dollar
Brandon Reyes
Just report $ value when you buy/sell. I think ampl is going to be here for a decades so I am holding for long term cap gains currently. Not sure about the geyser though, that probably changes things.
Parker King
For anyone interested, I saw an user here yesterday who said that Vitalik basically shilled AMPL on the Lex Fridman podcast.
>who pumps it when it goes under a dollar someone who buys a shitload of it and bets that the price will go back above a dollar
Caleb Sanchez
so it relies on someone to do work to save everyone else, that's kinda amusing
Eli Price
This... seems pretty dope. It does seem scammy on the surface, but after some more research, I can see why this blew up. Bummed that I missed a lot of good projects when I took a break from the space.
I quit trading regularly and changed my strat to slowly accumulating positions in btc, eth, and ada (as my gamble). I've had some pretty sick gains over the last year, but holy fuck did I miss out on a lot.
Been playing catchup trying to understand the top 100ish projects, and what indices are on the rise (I feel too late in the game to get in on anything worthwhile in DeFi).
Anyways, thanks in earnest. May as well grab a lil 10k stackerooni
Ethan Green
i have a question: isnt it kind of gay that its tied to the USD? why cant it have a rebase mechanism tied directly to trading data, so its value is determined outside legacy finance?
Jeremiah Murphy
It's tied to the 2019 USD - so in a sense, it's completely arbitrary. The value of the 2019 Dollar is not going to change.
Levi Torres
Imagine being dumb enough to think rebases are free money
Aiden Butler
interdasting, but arent people trading it based on the value of a todays satoshi or gwei? am i retarded? im not sure if im retarded...
Logan Rogers
I mean, of course they are?
What is being pegged to the 2019 Dollar here, is the target zone for rebasing, which will then also crawl upwards as the current year dollar devalue - so that the purchasing power of 1 AMPL increases over time, in relation to the current year dollar, but remains fixed against a 2019 Dollar.
Zachary Carter
ok thats what i thought thanks homie
Caleb Turner
Am I correct in thinking that the price you pay per AMPL doesnt matter as you're buying a % share of the maket cap?
