The AMPL development team has launched the anti-inflation token SPOT

2022-12-09 11:00:41

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ChainCatcher news, the development team of the blockchain protocol Ampleforth, Fragments, has launched an anti-inflation token called "SPOT." According to its white paper, SPOT is not a dollar-pegged stablecoin, but its value tends to align with the dollar adjusted for CPI. SPOT is a redeemable claim on a basket of on-chain collateral.

Fragments CEO Evan Kuo stated that SPOT is a type of stablecoin that is different from traditional ones and is not pegged to anything. The price of SPOT is determined by the market, and its value is the redeemable collateral. In the initial issuance, SPOT is managed by a multi-signature controlled by the Kennel Club, which is a Gnosis Safe contract with a threshold of 2. SPOT will eventually transition to being governed by the Ampleforth ecosystem's governance token FORTH. (source link)

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Ampleforth SPOT stablecoin

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