AMPL system seemed to work opposite as described

Learning Resources
1

Hi all,

Recently I thought I’d store some excess USDT in AMPL, to see how it would go and what would happen. I did this on Kucoin (which shouldn’t matter, I guess).

I bought @ 0.9232 for $100 and got 107.66 AMPL. This was on November 13.

Today I just so happened to stumble across my AMPL on Kucoin and saw I had just 92.11 left. In principle that’s ok, I know the amount changes in all wallets across the board.

However the way I understand it, is that the change will mean an increase in AMPL when price is above $1 and a decrease in AMPL when price is below $1, proportionally.

What I see, is the opposite just happened with me. What am I missing in my understanding of the principles behind this?

Thanks very much for shedding any light on this.

2

Hello check Ampleforth Rebase History | Charts and Tables | AMPLTools
There you can check how much % of rebase the protocol does daily there are neutral rebases too depends on price and oracle also … you find all detailed
Hope it helps

1 Like