Ampleforth Community Office Hours: 10/21/20
Oct. 22, 2020, 3:01 p.m.
Ampleforth Community Office Hours: 10/21/20
On October 21, the Ampleforth Team hosted office hours in our community Discord. This time Brandon, Simon, and Ahmed from the team interacted with, and answered questions from the Ampleforth community. Below is a curated list of questions and answers we collected. We intend to keep the conversation going biweekly, so please be on the lookout for these Discord events on a regular basis.
Q: When will we see implementation on other chains? (Imo AMPL should be implemented to BSC, Solana, Tron, etc.)
Brandon: We'll have more to talk about there soon, I hope. There's some work underway from our side, but also outside groups as well. For example.
These are tricky systems to build though, from a technical and safety perspective. Also, depending on the platform, most of the decentralized bridge solutions will come later than the chains themselves. So most likely the first versions will start out on the "trusted" side of the spectrum, and move to decentralized versions over time as the infrastructure allows.
Q: What does soon mean? Do you have a general timeline — months, weeks, a year from now?
Brandon: I think our goal is to develop as the space develops. But development is tricky sometimes.
Q: Are any solutions being worked on to address the greater than 10% live AMPL price disparity between Bitfinex and Kucoin? How is this affecting the rebase mechanism?
Ahmed: Due to KuCoin disabling withdrawal and deposits of AMPL, that created a separation between KuCoin and the rest of the markets. The short term solution (implemented 15 days ago) is removing KuCoin from the Ampleforth oracle feed. ChainkLink providers also removed KuCoin data from their VWAP computation.
Brandon: Oh yeah! So I hope everyone knows about the accelerated focus on moving to "capital d" decentralization. If you haven't seen it yet, I'd encourage everyone to check out: Governance here. And also: AIPs here. These should give a good high level view of what governance means for Ample in practice. I think it will also highlight what's in place, and what's still a work-in-progress. We've been following some of these before (our first AIP was published over a year ago), but now it's much more comprehensive, formalized, visible, and better documented.
Q: The AMPL dev team has reached out to folks on the Aave platform to add AMPL support.
Is this to address 1 of the outstanding Ampleforth "Roadmap" objectives: "AMPL available for lend / borrow on chain"? Has the AMPL dev team received any direct news from the Aave team that can be shared here?
Simon: This is a really exciting topic. The roadmap is for a very expansive and robust Elastic Finance future. AMPL on AAVE helps deliver on that roadmap and is a significant step, something the community is really excited about as you may notice from the amount and quality of interaction on the AAVE governance board. On the other hand elastic finance is a big deal. Many projects attempted to flood the space after AMPL showed the world that elastic assets could exist.
The future for the space may be much bigger than one platform. Working towards AMPL on AAVE is important and has momentum, it is an important step, but there is more to be done in addition to that. Elastic finance may continue to grow and evolve and as that happens it will be hard to declare "mission complete". Just look at the cryptocurrency space since Bitcoin came out — it's been a world full of innovation, often at a rapid rate. This means AMPL will aim to continue to be the leader in the space in a number of categories, that is to continue to lead on the innovation front and the tech front, and to deliver on the roadmap even as the space advances.
Q: How are things coming with the elastic AMM? The roadmap doesn't have dates or timelines, no pressure.
Brandon: I'd say the best way to think of "Elastic AMMs" is as a hydra more than a single entity. The Balancer smart pool is one step in that direction, but collaborations are also included (I don't want to speak for other groups until they do). If I had to prioritize Elastic AMM vs Lending though, I think lending would have a much larger positive impact on the ecosystem.
Simon: You might notice another exciting development — Manny who is one of the authors of the whitepaper has been a bit more visible these days. Keep an eye out for Manny and Evan a bit more moving forward. It's always great to get their take on things and listen to them when they talk about AMPL, how it fits into the world and the problems it addresses.
Q: Any plans to update the Enceladus Geyser incentives?
Brandon: I'm actually really curious to hear which platforms people want the most. Uniswap is still very important for the space, but beyond that there's also SushiSwap, Balancer (Smart or otherwise), others...? (We're also working on geyser improvements to handle platform tokens, if that makes a difference).
Interested in learning more about Ampleforth? Our website is a great resource.