Ampleforth (AMPL) rebase notice

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Bitget Announcement2024/08/23 08:09

By:Bitget Announcement

Based on the AMPL whitepaper, AMPL will adjust its token supply according to market dynamics through a process known as "rebase". This means that the quantity of AMPL you hold will change according to market conditions.To protect user interests, Bitget will implement the following adjustments: Bitg

Bitget will calculate the daily rebase quantity for users starting from June 16, 2024, and will conduct rebase for all users' AMPL starting from August 26, 2024, with a total of seven rebases operations to be made. The final rebase will occur on September 1, 2024, at 10:00 (UTC+8). Withdrawals will be suspended 30 minutes before each rebase begins and will be re-enabled 30 minutes after each rebase is completed. The daily rebase ratio will be dynamically adjusted based on on-chain data.

No.	Rebase calculation cycle	Withdrawal suspension time	Rebase time	Withdrawal re-enabling time
1	June 16, 2024, 10:00 AM – August 26, 2024, 10:00 AM (UTC+8)	–	August 26, 2024, 10:00 AM (UTC+8)	August 26, 2024, 10:30 AM (UTC+8)
2	August 26, 2024, 10:00 AM – August 27, 2024, 10:00 AM (UTC+8)	August 27, 9:30 AM (UTC+8)	August 27, 2024, 10:00 AM (UTC+8)	August 27, 2024, 10:30 AM (UTC+8)
3	August 27, 2024, 10:00 AM – August 28, 10:00 AM (UTC+8)	August 28, 2024, 9:30 AM (UTC+8)	August 28, 2024, 10:00 AM (UTC+8)	August 28, 2024, 10:30 AM (UTC+8)
4	August 28, 2024, 10:00 AM – August 29, 10:00 AM (UTC+8)	August 29, 2024, 9:30 AM (UTC+8)	August 29, 2024, 10:00 AM (UTC+8)	August 29, 2024, 10:30 AM (UTC+8)
5	August 29, 2024, 10:00 AM – August 30, 2024, 10:00 AM (UTC+8)	August 30, 2024, 9:30 AM (UTC+8)	August 30, 2024, 10:00 AM (UTC+8)	August 30, 2024, 10:30 AM (UTC+8)
6	August 30, 2024, 10:00 AM – August 31, 2024, 10:00 AM (UTC+8)	August 31, 2024, 9:30 AM (UTC+8)	August 31, 2024, 10:00 AM (UTC+8)	August 31, 2024, 10:30 AM (UTC+8)
7	August 31, 2024, 10:00 AM – September 1, 2024, 10:00 AM (UTC+8)	September 1, 2024, 9:30 AM (UTC+8)	September 1, 2024, 10:00 AM (UTC+8)	September 1, 2024, 10:30 AM (UTC+8)

Bitget to delist AMPL

Delisting time: August 26, 2024, 3:00 PM (UTC+8)

AMPL withdrawals will remain available until September 1, 2024, 6:00 PM (UTC+8).

Note: Bitget will no longer support AMPL withdrawals after September 1, 2024, 6:00 PM (UTC+8). All AMPL assets will be automatically converted to USDT after the withdrawal service is terminated. The conversion price will be based on the market price of AMPL on CoinMarketCap on September 1, 2024, 6:00 PM (UTC+8). Please ensure you withdraw your funds in time!

What is rebase?

Rebase is a unique mechanism employed by Ampleforth (AMPL) to dynamically adjust the token supply according to market conditions. AMPL will update the user balances through smart contracts at around 10:00 AM (UTC+8) each day.

How rebase works:

- If the AMPL price is 5% above price target, the token supply will increase and the user balance will increase accordingly.

- If the AMPL price is 5% below price target, the token supply will decrease and the user balance will reduce accordingly.

- If the deviation between the AMPL price and the target price is within the [-5%,5%] range, rebase will not be triggered. The token supply and the user balance will remain unchanged.

Learn more about rebase: https://docs.ampleforth.org/learn/about-the-ampleforth-protocol

Target price inquiry: https://www.ampleforth.org/dashboard/

Rebase formula:

Basic definition:

Balance of the day is denoted as A.

Asset adjustment factor is denoted as R.

Balance after rebase is denoted as S (S = A × R).

Difference in asset quantity is denoted as D (D = S − A).

Day 1:

Balance after rebase = A1 × R1

Day N:

Balance after rebase = (An + D(n − 1)) × Rn

Asset adjustment factor details from June 16, 2024, to August 22, 2024

Date	Asset adjustment factor (used to calculate asset adjustment)
June 16, 2024	0.991357276627411000
June 17, 2024	0.993510876554079000
June 18, 2024	0.995670538250061000
June 19, 2024	0.986012750826179000
June 20, 2024	0.980748501596642000
June 21, 2024	0.988142577567993000
June 22, 2024	0.984952544875691000
June 23, 2024	0.980748501596642000
June 24, 2024	0.982842712474619000
June 25, 2024	0.977640328878930000
June 26, 2024	0.979707809420773000
June 27, 2024	0.978671681357468000
June 28, 2024	0.978671681357468000
June 29, 2024	0.980748501596642000
June 30, 2024	0.980748501596642000
July 1, 2024	0.983895788810290000
July 2, 2024	0.989211723831415000
July 3, 2024	0.989211723831415000
July 4, 2024	0.989211723831415000
July 5, 2024	0.981793542395443000
July 6, 2024	0.980748501596642000
July 7, 2024	0.981793542395443000
July 8, 2024	0.980748501596642000
July 9, 2024	0.977640328878930000
July 10, 2024	0.984952544875691000
July 11, 2024	0.994590074734603000
July 12, 2024	1.000000000000000000
July 13, 2024	1.000000000000000000
July 14, 2024	1.000000000000000000
July 15, 2024	1.000000000000000000
July 16, 2024	1.007566805830850000
July 17, 2024	1.008642723372590000
July 18, 2024	1.010788276168580000
July 19, 2024	1.010788276168580000
July 20, 2024	1.009716628665000000
July 21, 2024	1.006489123445920000
July 22, 2024	1.000000000000000000
July 23, 2024	0.993510876554079000
July 24, 2024	0.993510876554079000
July 25, 2024	0.992433194169148000
July 26, 2024	0.988142577567993000
July 27, 2024	0.989211723831415000
July 28, 2024	0.990283371335002000
July 29, 2024	0.988142577567993000
July 30, 2024	0.988142577567993000
July 31, 2024	0.984952544875691000
August 1, 2024	0.981793542395443000
August 2, 2024	0.977640328878930000
August 3, 2024	0.978671681357468000
August 4, 2024	0.976613959282761000
August 5, 2024	0.973566755057659000
August 6, 2024	0.969585363646303000
August 7, 2024	0.979707809420773000
August 8, 2024	0.976613959282761000
August 9, 2024	0.980748501596642000
August 10, 2024	0.984952544875691000
August 11, 2024	0.983895788810290000
August 12, 2024	0.984952544875691000
August 13, 2024	0.982842712474619000
August 14, 2024	0.981793542395443000
August 15, 2024	0.979707809420773000
August 16, 2024	0.980748501596642000
August 17, 2024	1.000000000000000000
August 18, 2024	1.000000000000000000
August 19, 2024	1.000000000000000000
August 20, 2024	1.000000000000000000
August 21, 2024	1.000000000000000000
August 22, 2024	1.000000000000000000
August 23, 2024	–
August 24, 2024	–
August 25, 2024	–
August 26, 2024	–
August 27, 2024	–
August 28, 2024	–
August 29, 2024	–
August 30, 2024	–
August 31, 2024	–
September 1, 2024	–

Example:

Assuming that User A has a balance of 1000 AMPL on June 20, 2024, and the asset adjustment factor for that day was 0.980748501596642, then User A's balance after rebase = 1000 × 0.980748501596642 = 980.748501596642 AMPL.

Assuming that User B has a balance of 1000 AMPL on August 1, 2024, and the asset adjustment factor for that day was 0.981793542395443, then User B's balance after rebase = 1000 × 0.981793542395443 = 981.793542395443 AMPL, and the difference in User B's asset quantity on August 1, 2024 is –18.2064576045569 AMPL.

Since the platform did not actually undergo rebase, user B's balance remained at 1000 AMPL on August 2, 2028, and the asset adjustment factor for that day was 0.97764032887893. The difference in User B's asset quantity on August 1, 2024 was –18.2064576045569 AMPL. Therefore, User B's balance after rebase = [1000 + (–18.2064576045569)] × 0.97764032887893 = 959.840961678691 AMPL.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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