On August 27th the Ampleforth Team was delighted to host office hours in our community Discord. The Ampleforth community is passionate and supportive, and the team had a great time interacting and answering all the questions. Below is a curated list of questions and answers from the event. We intend to keep the conversation going in this way, so please be on the lookout for future Discord events.

Since keeping half my assets in AMPL and half in another asset is encouraged due to geysers and liquidity rewards, will the team create incentives or rewards for people that are 100% in AMPL?

Evan: That's a great question, we have talked about things like a staking vault and will continue to explore things like that as the conversations unfold.

Brandon: We did build the Geyser to be able to stake ample to get ample, but we think that's less useful. Ideally, we want the geyser distribution to reward people who help the overall ecosystem. Providing liquidity on AMMs is an obvious first one. After that would be something like supplying on future lending platforms. We really think of the Geyser as our version of Bitcoin's Proof of Work distribution in the early days

AMPL is fairly uncorrelated to other crypto markets and assets, and even though we have had a rough month of negative rebases, do you guys think AMPL is working as intended so far? Are you guys happy with the way the project has been going?

Evan: My sense is, thus far things have been working as intended. 1) The protocol is executing a countercyclical supply policy, 2) It has been moving differently from other assets (as was validated by the Gauntlet Research report. One thing that is different from what we expected, was the effect of AMM price stickiness due to the high amount of liquidity on Uniswap. This is one of the reasons I'm excited about rolling out special purpose AMMs.

I bet that the AMPL team had good reasons for leaving the treasury function out of the protocol. I’m wondering what the team thinks about the YAMv3 protocol’s treasury idea? Specifically it’s merits and risks.

Brandon: The original Fragments protocol has a built-in treasury. From talking with the YAM folks, it seems that was indeed an inspiration for what they're doing. It's hard to tell where it will go, to be honest, and it'll be interesting to watch. The addition of a DAO and a reserve turns that system much more into a discretionary bank, rather than a natural resource/base money. Our perspective is that independent monies should be rules based and we see ample as being much closer to a natural resource than a bank-on-the-blockchain. We already have discretionary systems like the USD run by very smart folks. What happens when it's run by crypto twitter? We'll find out!

Could you guys explain how you determined a 24 hour rebase? And also the protocol want's to stabilize the price over a 10 day span, how did you guys come up with that?

Evan: Good question. We wanted to use 24hr VWAP to avoid over-correction, same with our original reaction lag of 30. All of that seemed lightning fast by comparison to central banks, later we adjusted to a reaction lag of 10 (given how fast price moves in crypto). Even that might actually be a bit slow today. In the long run, slower is better (and frankly reaction lag will matter less), but between now and steady state it would be great to start decentralizing governance of this parameter.

Is hysterical hype or panic, and involvement from 4chan as seen with chainlink, looked at as a good thing by the team?

Evan: It was certainly unexpected to say the least. We have seen very successful token projects form around communities like this, however, so I think it's net good. Examples of projects that have support from 4chan include Bitcoin and Link (pretty good company to be in). But we don't want to make the mistake of bullying or being un-inclusive, so we'll keep an eye out for that.

Will the Ampleforth team be actively involving themselves in more community projects, like the Amplesense DAO, or will they take a passive approach to these efforts?

Brandon: I think it's cool to see any kind of organization happen from the community, and I think our plan is to nurture these as long as they're not causing harm in any way. We could provide some funding support for projects like this in the future, but that process would look much closer to how the EF provides grants (rather than direct involvement from us devs).

Isn't the ability to short AMPL hinder the asset reaching equilibrium?

Evan: I think in the long run it facilitates more efficient price discovery. At the moment the fill-rate on exchanges like FTX for AMPL derivatives isn't high enough to have a profound impact on price discovery. Mid-term I'm not sure. I also think that it's inevitable. Whether we encourage things like perpetual futures or not, they naturally emerge once a crypto project gets to a certain size.

What are your expectations for the future of AMPL, in 1 year, or 5 years, etc.?

Evan: I expect much of the landscape will change. We'll have special purpose liquidity and lending contracts. We'll be cross-chain, I really see new chains starting to find a role in the ecosystem soon (largely due to the success of DeFi).

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