"AMPL combines the best of Bitcoin and stablecoins. It is a new decentralized primitive."

AMPL's smart contract design allows the increase and decrease of supply to be automatically executed without any need for a transfer between peers, and without the need for a bank.

The monetary protocol automatically adjusts the supply of AMPL across all user wallets based on price. This means the number of AMPL you own changes based on market conditions. When price is high wallet balances automatically increase. When price is low wallet balances automatically decrease. This supply adjustment operation happens once per day and is called a rebase.

This daily rebase operation is applied universally and proportionally across every wallet’s balance. This means AMPL is non-dilutive. Like Bitcoin, if you own 1% of the overall network you will always own 1% unless you actively make a transfer.

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Information Flow

At a high level, the policy contract reflects price changes in the market as supply changes in wallet balances. This in-turn incentivizes market actors to adjust price. Price informs supply algorithmically and supply informs price behaviorally, in a cycle.

Core Features & Capabilities


The protocol rules are encoded in smart contracts on Ethereum. Rules-based policies allow for predictable actions and measurable responses, and are effective checks against discretionary monetary policies.

Non Dilutive

If you own 1% of the network, you’ll always own 1%. No party extracts value and there are no added transaction fees.


AMPL is a base money, there is no notion of debt or credit in the system. It does not rely on open debt markets or lenders of last resort

Simple Incentives

A simple system is transparent and easy to understand. The Ampleforth protocol has only two rules for expansion and contraction, and depends solely on profit-seeking actors in the marketplace to reach equilibrium.

Non Custodial

Ownership is accounted for natively on the blockchain. No custody is taken of outside assets or collateral.

Minimal Governance

AMPL was designed to minimize the need for governance. No governance exists within the loop of supply adjustments because there are no interest rates to adjust or markets to balance.

Distinct Movement Pattern

Ampleforth’s novel protocol rules lead to unique incentives and a distinct volatility fingerprint. Ampleforth offers a way to diversify risk in a dangerously correlated ecosystem.


AMPL implements the ERC-20 interface and can be used with any native blockchain wallet. A standard interface allows AMPL to integrate with many DeFi application platforms.