Why wAMPL?
wAMPL broadens access to AMPL and the larger Ampleforth ecosystem by introducing a perfectly composable ERC-20 token which makes platform integrations more simple, secure and fast. As the DeFi market continues to grow, wAMPL will expand on AMPL’s role as a key building block for denominating stable contracts via an independent, algorithmic unit of account.
wAMPL is to AMPL as wETH or wBTC are to ETH and BTC, respectively. It’s a wrapped ERC20 token that is 1:1 redeemable for AMPL. Unlike AMPL, the wAMPL does not rebase and maintains a floating price.
wAMPL unlocks new technical integrations and expanded opportunities to access the Ampleforth ecosystem. Even with historic gas prices that make Ethereum-based transactions prohibitively expensive for many, the AMPL community has continued to grow in terms of both wallets and TVL. Thanks to wAMPL, the community will now have much more flexibility in how and where they deploy their AMPL.