AMPL Thesis- The need for an Elastic, Non Dilutive, Uncensorable, Unit of Account

Crypto markets are frothy- and we all know we are searching for the outsized returns, multi baggers in crypto. Well to do that you need to find them before they are as ubiquitous as Bitcoin and Ethereum, yet as long lasting and unique/value adding as those two primitives. So the question is when you find one, what is it and how do you know?

Well you can find something people value. Monero is phenomenal for privacy but folks don’t seem to value that as much as they say they might. So Monero doesn’t moon and privacy destroying things like Facebook are not only accepted- they are common place and loved. But if privacy was to be valued something like monero would be really interesting from a returns perspective and could be seem as undervalued as a result i.e. it’s value would correct to a higher level as its true value was realized.

The more promising example is AMPL. When you look at the stable coin market you see an extreme amount of demand for a unit of account in crypto. It’s probable, more than the value of privacy, that crypto native units of account have demanded an extreme market share. The reality is that none of these are decentralized in the slightest. In fact they are all extremely centralized and the only ones that have any operating history or faith are directly back by the most freezable asset in the world: US dollars. That is, all except for AMPL. Ampl is undervalued because if you believe that decentralization has value, but clearly is not common place as a driving force now, when that is realized AMPL can head to its rightful value and right now it is deeply undervalued if you think about what type of demand a unit of account that is decentralized would have.

So, if decentralization has value, AMPL is undervalued in a market where everything else is overvalued.

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