Ampleforth

Halal Rating :
Comfortable
Last Price $1.1 Last updated:
Rank 815
1D Change -7.82 %
Market Cap $31.61m
Circulating supply 28,274,494
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • DeFi
  • Algorithmic Stablecoin
  • Ethereum Ecosystem
  • Rebase
  • Avalanche Ecosystem
  • Arrington XRP Capital Portfolio
  • Alameda Research Portfolio
  • Pantera Capital Portfolio
  • Spartan Group
  • Meter Ecosystem

Purpose and Utility

Ampleforth (AMPL) is a digital currency protocol that aims to create a non-dilutive elastic supply cryptocurrency. The protocol automatically adjusts the total supply of AMPL tokens in response to demand. When price is high, wallet balances increase. When price is low, wallet balances decrease. This mechanism is designed to create a more stable unit of account while maintaining a completely decentralized, non-custodial architecture.

Business Model Evaluation

The core protocol operates through smart contracts that execute supply rebasing every 24 hours based on price data from trusted oracles. This mechanism is transparent and does not involve any prohibited activities like interest (riba) or gambling. The protocol's revenue model is based on legitimate market activities and does not rely on lending or borrowing.

Real-World Adoption

AMPL has achieved integration with several major DeFi protocols and exchanges. The token is actively traded on decentralized exchanges like Uniswap and centralized exchanges. While trading volume exists, the primary use case remains as an experimental economic tool rather than a widely adopted medium of exchange.

Development Activity

The project maintains active development with regular updates to the protocol. The team continues to work on ecosystem expansion and technical improvements. The GitHub repository shows consistent activity, indicating ongoing legitimate development efforts.

Token Distribution

The initial token distribution allocated approximately 23% to the founding team and advisors, with vesting periods in place. The remaining tokens were distributed through various rounds of funding and public sales. While the founder allocation is significant, it includes reasonable vesting schedules to align long-term incentives.

Crypto Impact

To assign a comfort level investing in Ampleforth from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ampleforth.

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