Ampleforth Launches New Liquidity Program
- Through the new “Geyser” program, users will be able to earn rewards by staking their AMPL tokens.
- Rewards will be based on the amount of liquidity provided and the duration the user’s tokens are available.
Digital asset protocol Ampleforth has introduced a new incentive program, which will distribute the Ample (AMPL) token to liquidity providers, the firm said on Twitter on 23 June.
Called “Geyser“, the new incentive program will be powered by the non-custodial decentralized finance (DeFi) platform Uniswap 2.0, and will enable users to earn rewards by staking their AMPL liquidity tokens. The amount earned by users will depend on the total liquidity they provide, and the duration the tokens are available on the platform.
Brandon Iles, co-founder of Ampleforth, said in a blog post:
“The motivation of the geyser project is two-fold. First, it helps distribute the Ecosystem fund out into the world in a sensible, permissionless, and predictable way. And second, it distributes to those who contribute to the health of the AMPL ecosystem.”
Users will also be able to stake more liquidity at any time and keep their tokens on the platform as long as they want, as there is a no minimum lockup period. Although users receive their rewards once they unstake, the Geyser interface allows them to check on their current stake and reward amount at any time.
Though not a stablecoin, Ampleforth’s AMPL token is a cryptocurrency that is balanced around an equilibrium price target, and is designed to adjust its supply in order to match exchange rate fluctuations. In order to protect itself against deflation and price volatility, every time the coin’s total supply changes, individual wallet balances change along with it.
The firm conducted its token sale back in June 2019, when it was able to raise around $11 million during its Initial Exchange Offering (IEO). The AMPL sale was the first IPO to be held on Ethfinex, and on the Hong Kong-based crypto exchange Bitfinex’s Tokinex platform.
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