Ampleforth

Ampleforth provides a decentralized cryptocurrency protocol that offers AMPL, a price-stable but supply-volatile cryptocurrency targeting the CPI-adjusted dollar. Unlike traditional stablecoins that maintain price stability through collateral or central custodians, AMPL's protocol automatically increases or decreases the quantity of tokens in user wallets through supply rebasing, such that the price of AMPL reverts to 1 CPI-adjusted dollar. This mechanism transfers the volatility of demand from price to supply, making the token entirely non-dilutive since proportional supply adjustments mean holders maintain their percentage ownership of the network. AMPL serves as a decentralized unit of account and collateral asset, enabling the denomination of stable on-chain contracts without reliance on centralized custodians or buyers of last resort. Key use cases include on-chain lending, borrowing, creation of on-chain derivatives, and collateral for decentralized stablecoins. The protocol accepts a 24-hour volume-weighted price feed, and attacks on the oracle cannot result in theft of funds, providing oracle safety for applications built on AMPL. Ampleforth has also launched the SPOT protocol as the next evolution of AMPL, and FORTH serves as the governance token controlling the Ampleforth Protocol and DAO. The protocol has been live since 2019 and has consistently returned to target through extreme market conditions. Founded in 2017 and headquartered in San Francisco, California, Ampleforth has raised $7.8M in Series A funding from investors including True Ventures, Slow Ventures, Nima Capital, FBG Capital, Pantera Capital, The Spartan Group, Brian Armstrong, Founder Collective, Collab+Currency, and Turing Capital.