Ampleforth, the digital asset protocol, has announced the official launch of a new “Liquidity Incentive Program” on June 23 as this program, named “Geyser” targets Uniswap 2.0 and aims to enable users to stake their Ample liquidity tokens (AMPL) to earn staking rewards.
It has been reported that users will earn Ample tokens based on the amount of liquidity provided and the duration the user’s tokens are available. The company claims that the entire process is on-chain and non-custodial.
Ampleforth Launches Liquidity Program to Target Uniswap 2.0 https://t.co/7hEhebKpJq $AMPL — CoinBlick: Crypto News ⚡️ (@CoinBlick) June 23, 2020
However, Brandon Iles, the co-founder of Ampleforth, said that the Uniswap platform has had time to prove itself in an adversarial landscape, has a “well-developed” developer ecosystem, and tools like pools.fyi and uniswap.info to show detailed mechanics for end-users and liquidity providers.
Iles added:
“It’s both an exciting and worrying time for DeFi. We’re starting to see emergent behavior from interactions between DeFi building blocks that were not planned for when this space was first beginning, like flash loans, and a dizzying variety of ways to ‘farm yield.’ (…) Our team worries that DeFi may become too dependent on the faith in debt markets.”
Likewise, in June 2019, Ampleforth raised $11 million in 11 seconds during its initial exchange offering.
Thus, the protocol released a white paper for its digital asset protocol on May 13, 2019.
Source: Cointelegraph | Image: Pixabay