Ampleforth tries to replicate fiat. We want to destroy it.
Antiample borrows concepts from Ampleforth which you can read about here: https://www.ampleforth.org/basics/
The basic idea is that you own a percentage of the token distribution, but not a set amount of tokens. This allows the protocol to update the total circulation, which affects how many individual tokens you have. If the total set of tokens goes down, the value of each tokens goes up. Vice versa, adding to the supply makes the value of each token go down.
Ampleforth uses this mechanic to create a synthetic asset that attempts to peg to $1.00. However, they do this by adding tokens to the supply. This is essentially the same way that the US Dollar increases the supply to keep the purchasing power similar each year. Because more people are born, and more jobs are created, and more resources are consumed, more demand for money is created. The US Fed mints more money in this way to make sure that the price of a dollar goes down such that it maintains stability.
We don't really like the Federal Reserve, nor the concept of inflation. Therefore, our protocol does not have any methods to increase the amount of supply. The only method it has is to decrease it by an adjustable percentage above 0%.
There is no other token that has this exact mechanism. While we do not know the outcome of this experiment, we do know that it will be interesting to say the least.
This will be updated after each burn directly to the corresponding Etherscan link.
* 30 July 2020 - Contract Submission - https://etherscan.io/tx/0xa5558e4876c778cc8e6fcd7b1f2f7c6aeeff525d3470fa0591ff02fc13ea5571
* 30 July 2020 - <1% Burn - First burn: https://etherscan.io/tx/0x66f1675141099ad5d604dd244e3f44cd17420f823a7d27d2f3aea22dfa2e9394
* 30 July 2020 - 1% Burn - Second burn: https://etherscan.io/tx/0x74a59fb0ce1a637ec9224aebba9dbcbc75a6e08aa0ebff18a93b3dd7b324e0a0
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