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Ampleforth is a cryptocurrency that is optimised for efficient price discovery and stability. It is the first major protocol to introduce elastic supply mechanisms and redefine monetary policy. Launched in June 2020, Ampleforth is based on the Ethereum blockchain and has become one of the top 50 cryptos by market capitalisation.
The project was created by a team of developers led by Evan Kuo who sought to create a stablecoin that was resilient to external shocks and could function as a medium of exchange and store of value. Ampleforth's elastic supply mechanism adjusts the asset supply based on price movements and allows the network to maintain price stability. This is achieved through a complex algorithm which adjusts the supply of the token in response to market conditions. The project has gained traction in the cryptocurrency space and is becoming increasingly popular amongst investors and traders.