Avalanche Integrates Ampleforth to Boost DeFi Ecosystem

Avalanche Integrates Ampleforth to Boost DeFi Ecosystem

Key Takeaways

Ampleforth has launched on Avalanche.
The move will allow DeFi protocols on Avalanche to use the AMPL token as a stable unit of account.
Total value locked in DeFi protocols on Avalanche is currently at an all-time high.

Share this article

Ampleforth has completed its integration with Avalanche, allowing the AMPL token to be used in DeFi protocols on the network. 

Ampleforth Arrives on Avalanche

Ampleforth is the latest protocol to integrate with Avalanche.

Fragments Inc., the development company behind Ampleforth, announced Tuesday that it had joined the rising Layer 1 network. The AMPL token, an Ethereum-born unit of account, can now be used to denominate stable contracts on Avalanche DeFi protocols. 


Ampleforth markets itself as a direct competitor to centrally-backed stablecoins. While most stablecoins in the crypto space rely on traditional banks or lenders to back their stablecoins, the AMPL token takes a different approach. 

The Ampleforth protocol’s algorithms translate price volatility into supply volatility. This means that while the price of AMPL tends to cycle around $1, the number of tokens in a holder’s wallet increases or decreases depending on whether the network grows or shrinks. This mechanism aims for AMPL to be used as a stable unit of account that is more decentralized than other existing stablecoins.

By integrating with Avalanche, DeFi protocols on the network will be able to denominate stable contracts using AMPL tokens instead of existing stablecoins, providing a higher level of decentralization. Evan Kuo, CEO of Fragments Inc., said of the update: 

“It is ironic that the DeFi ecosystem currently relies so heavily on centralized stablecoins for liquidity and lending collateral. With the changing regulatory landscape, it’s important for DeFi to have a financial building block that’s decentralized, uncensorable, and has some aspect of price predictability or stability.”

For Avalanche, the move comes as the total value locked in DeFi protocols on the network is at all-time highs. Avalanche currently supports $8.6 billion of liquidity on the network and has attracted several DeFi blue chips from Ethereum, including Aave and Curve. 

Since August, Avalanche has rallied to new highs along with several other chains amid a boom among Layer 1 ecosystems. The EVM-compatible network has climbed quickly and is now ranked 13th by market capitalization. 

Disclaimer: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Avalanche Meets Resistance After 24% Rally

DeFi protocol Avalanche has been in the spotlight after a series of announcements that may have helped push its native token, AVAX, toward higher highs.     Avalanche Reaches Key Resistance…

Avalanche Is Launching on Coinbase Pro

Avalanche’s native token AVAX will soon be available to a wider audience thanks to a Coinbase Pro listing. Coinbase Pro to List AVAX Avalanche is heading to Coinbase Pro. In…

MDEX: Overlooked Decentralized Exchange That Pays You to Trade

Based on statistics from DeBank and dapp.com, one of the top-performing decentralized exchanges by TVL and trading volume this year is MDEX—an AMM-based DEX functioning across the Huobi Eco-chain (HECO), Binance Smart Chain…

Avalanche Breaks All-Time High on News of $230M Raise

Avalanche has closed a $230 million funding round led by Polychain Capital and Three Arrows Capital. Leading Crypto Investors Back Avalanche Ecosystem Avalanche has landed a $230 million investment to…

Source link


Be the first to comment

Leave a Reply

Your email address will not be published.