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Ampleforth & Balancer partner to introduce rebasing smart pool for USDC-AMPL pair

By Pavithra R

September 15, 2020

  • Ampleforth
  • Balancer
  • USA

Ampleforth, a digital asset protocol for synthetic commodity money has announced the launch of rebasing Smart Pool in collaboration with programmable liquidity protocol and aggregator, Balancer.

On Balancer, Smart Pools are controlled or private pools owned by a smart contract. These pools can be made of 2 to 8 token constants and customized with configurable weights that represent the desired ratio of each token in a pool.

Balancer, along with Ampleforth will be debuting its first USDC-AMPL Smart Pool, starting out with a 50/50 ratio. AMPL is a cryptocurrency like Bitcoin, but its supply changes daily. As the supply of AMPL expands or contracts, the USDC-AMPL Balancer Smart Pool will automatically adjust pool ratios to remove all impermanent loss associated with AMPL’s supply rebases. Liquidity providers on Balancer can now benefit from the automatic weight adjustments of liquidity pairs, the daily supply rebases of AMPL and the yield generation from fees on token swaps while dramatically reducing impermanent loss.

“The rebalancing smart pool, jointly developed by Ampleforth and Balancer, showcases the most valuable aspects of each project and is a first step towards Elastic Finance. Most floating price assets on AMM platforms cause LPs to suffer impermanent loss when paired with stablecoins. If there is long term supply growth, that impermanent loss may never be recovered. To solve this for AMPL LPs, we developed this new Smart Pool that’s capable of rebalancing pool weights in accordance with AMPL’s unique supply changs so that impermanent loss can be made truly impermanent,” said Brandon Iles, co-founder at Ampleforth.

Founded by Evan Kuo and Brandon Iles, Ampleforth invented the category of supply elastic, rebasing digital currencies. They did so by developing an Ethereum protocol that translates market volatility into supply discovery through a ‘rebase’ mechanism every 24hrs. In July, AMPL launched its first smart faucet, Geyser, to incentivize on-chain liquidity through Uniswap. At its all-time-high, AMPL surpassed $700M in fully diluted market cap and its Geyser is among the highest-yielding incentive programs in the market. Continuing this momentum, Ampleforth released 10 new pools on Mooniswap, the AMM backed by 1inchExchange, with AMPL-BAL,  AMPL-COMP, AMPL-CRV, AMPL-LINK, AMPL-MKR, AMPL-BZRX, AMPL-NMR, AMPL-YFI, AMPL-YUSD and AMPL-LEND pairs.

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