Ampleforth tries to replicate fiat. We want to destroy it.
Rather than attempting to recreate traditional financial structures on the blockchain, we should be developing structures that serve as their antithesis. Otherwise, the same problems inherent to the modern financial system will only be replicated once again.
We are seeing this happen in the crypto space already. Projects are no longer deemed interesting without the backing of top tier VCs. Speculators clamor at news of big banking institutions and governments allowing their technology to operate within their system. Is there no more dignity to the crypto movement?
Antiample is an ERC20 token on the Ethereum blockchain. Unlike a regular ERC20 token, Antiample has a constantly reducing supply. Holders of Antiample own a portion of the total supply of the token rather than an amount of Antiample themselves. When the value of 1 Antiample token decreases, the supply is decreased by at least 1%. This causes each Antiample to be worth more.
While Ampleforth issues more tokens based on supply and demand, we constantly destroy it. Cryptocurrency was born on the concept of deflationary assets. Antiample takes this concept to the extreme.
How will the free market behave? How will traders react to a constantly reducing supply? Who knows? What are the limits of our current concept of what a financial system is?
We don't have an answer, but if this intrigues you, you might want to join us to find out.