Monetary trilemma. Base money v. fiat. Debt market evolution.
About the Episode
This week, I chat with Evan Kuo, Co-Founder and CEO of Ampleforth and Manny Rincon-Cruz, Researcher at the Hoover Institute and Advisor to the Ampleforth team.
Ampleforth (AMPL) is a monetary innovation and primitive building-block for the decentralized finance ecosystem. Like Bitcoin, it is uncollateralized. Unlike Bitcoin, the Ample eschews a fixed supply schedule and instead automatically adjusts supply in response to price-exchange rate. The Ampleforth protocol receives exchange-rate information from trusted oracles, and propagates that to holders of its units (Amples) by proportionally increasing or decreasing the number of tokens each individual holds.
The unique incentives, movement pattern, and monetary qualities of AMPL, make it ideally suited to: 1) add value to baskets of digital assets, reducing aggregate volatility, 2) be useful as a building block in broader decentralized finance (DeFi) applications, much as physical commodities were building blocks in the historical financial system.
- Influential economic thinkers
- Failed currency pegs
- Monetary trilemma: adaptive supply, durable value, stable peg
- The base money problem v. the fiat problem
- How AMPL stacks up to Ampleforth's initial goals
- Rebasing tokens v. coupon-based tokens
- Comparing single token v. multi-token model
- Is the goal of AMPL, stability?
- AMPL's stable contracts utility
- Evolution of debt in the crypto market
Ampleforth: A New Synthetic Commodity
Central Banks — A Bad Influence on Decentralized Finance
Algorithmic stablecoins aren’t really stable, but can the concept redeem itself?
Synthetic Commodity Money (2013)
Risk and Return of Cryptocurrency (2018)
Stability, Elasticity, and Reflexivity: A Deep Dive into Algorithmic Stablecoins
The Letter and Spirit of Composability
#Ampleforth #BaseMoney #CUPofCrypto #CryptoUnstacked