Ampleforth (AMPL) rebase notice
Bitget
2024-08-23 09:00
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:
-
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, 16:30 PM (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) |
2. 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
2. 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 |
1.0000000000000000 |
| August 24, 2024 |
0.9828427124746190 |
| August 25, 2024 |
0.9913572766274110 |
| August 26, 2024 |
0.9924331941691480 |
| August 27, 2024 |
0.9870761736904990 |
| August 28, 2024 |
– |
| August 29, 2024 |
– |
| August 30, 2024 |
– |
| August 31, 2024 |
– |
| September 1, 2024 |
– |
3. 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.
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