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.