Idea Summary: Simulate what MakerDao is doing for Dai for Ample, multi-collateral deposits
Overview: Simply, by offering ample loans based on other currencies used as collateral. Like a multi-collateral Dai except by increasing the liquidity and supply of ample by supplying loans would help reduce the long negative and positive rebases. The multi-collateral aspect is so users can choose from a variety of coins to lock-up i.e. btc or eth.
Equilibrium are short lived leading to long rebases, by overall increasing ample market cap and supply should dampen the volatility
Idea implementation/execution: The Ampleforth white paper mentions a lending platform, ultimate fear is if ample is locked-up for loans, traders would just pump and dump based on price changes with no concern for rebase mechanics. (Assuming ampl would have a positive rebase increasing wallet supply and funds. A savvy person could manipulate a positive rebase to borrow more with essentially same amount invested.)
Budget/cost: Uncertain until more discussions
Examples of similar ideas: Protocol Implemented similar to Aave, Compound, or MakerDao except ample would be the only initial loaned asset
We’re starting a project that allows users to use stablecoins for gaming activities in a sportsbook. Was looking at how AMPL could be one of the special ‘stablecoins’ that we’d like to consider, and this is definitely one solution that has the potential to utilise AMPL on various other platforms in future as well.
Would love to see how this idea pans out in the near future! All the best!
I like this initiative.
If a DSR-like mechanism is implemented (Ample Savings Rate/ASR), the demand for AMPL could increase as more AMPL is locked up in these smart contracts. This could create an overall upward buying pressure on the asset to prevent sustained negative rebases. This could potentially become a core feature of kMPL vaults.
It would be helpful to get a progress update on the Elastic AMM and lending roadmap.