Welcome to the AmpleSense DAO Community Hub Forums General Conversation Do the users really understand AMPL, and what can be done about it? Reply To: Do the users really understand AMPL, and what can be done about it?

  • Jm3

    September 30, 2020 at 20:05

    Thanks for indicating the idea incubator, I will have a look. I haven’t explored yet all the ideas and the other posts here, but will do my best to cover as much as possible.

    I agree that Ample protocol does not need any modifications. I also fully support additional uses that may be created. They will indeed enrich the whole ecosystem.

    It only seems to me that Ample needs a big adoption to deliver its functionality. And if by one side users education will help that adoption, my perception is that a big number of the users available in the ecosystem are not necessarily interested in learning and understanding, but they are the investors available.

    Fortunately, as FudBuster said on his reply, it is possible to be focused in more than one thing at the same time on this attempt to develop Ample.

    The Rebase insurance fund is a good idea. Borrowing, lending, derivatives platforms are all also valid ones.

    But they all may require even more explanations and education to generate the necessary adoption.

    I suppose most have access to the Ample official Telegram account. I see there a lot of “when moon?”, “Pump, pump!”, “When lambo?”, “Just hodl”, “The whales are dumping”. A good part of the cryptocurrencies users are primarily, probably only, interested in profiting. That is their language, that is their mindset. It is a big challenge, as you said, to educate them on how to use and invest in Ample, even more if there are relatively long periods of negative rebase. Thence the suggestion to meanwhile also create a practical guide, in a very utilitarian approach, with easy steps on how to earn (which is attractive and very possible), that are at the same time steps on how to help Ample deliver its full potential, without necessarily being educating on why and how it works under the hood. Elastic supply is not common sense. The explanation of what it is and how it works is available, but I suspect Ample and all the other elastic supply protocols should not be so dependent on the investors a priori understanding in order to perform. Despite this, proper investors actions are vitally needed.

    Maybe Ample has to first fully work as designed, and only then the mass understanding will emerge, from the experience.

    I would like to raise the awareness that, if it is correct that a good number of investors do not understand Ample, and therefore do not “invest right” just with the token, there may be a considerable risk that creating other use cases for the protocol, instead of promoting it, will backfire and become new points of misunderstandings and losses.