We recently caught up with Evan Kuo, CEO at Ampleforth, a new crypto-asset protocol for developing “fair and independent money.” Kuo, a mechatronics, robotics, and automation engineering graduate from the University of California, Berkeley, argues that Bitcoin (BTC), the flagship cryptocurrency, has the potential to transform the world’s financial system.
However, the tech entrepreneur questions whether or not bitcoin or other similar cryptocurrencies will be able to outgrow their function as an investment vehicle or eventually act as a major reserve currency held by financial institutions.
In an attempt to improve upon the existing Bitcoin protocol, Ampleforth and Chainlink have announced an integration that will allow the project’s native AMPL token, which is currently tradable on Bitfinex, Kucoin, Uniswap and Bancor, to make enhancements to fixed-supply commodity monies, like gold and BTC.
You’ve mentioned that Ampleforth will be the first financial asset that will use Chainlink oracles to aggregate off-chain pricing data in a secure and timely manner for its protocol. The protocol will be integrated with Chainlink, and includes Ampleforth’s Market Oracle (volume-weighted price) and CPI Oracle (current price target).
You’ve also noted that the oracles will be powered by nine different incoming price feeds from three different aggregators, which collectively assist in adjusting AMPL’s outstanding supply after every 24-hour period.
Please explain how this process works and which price feeds and aggregators are used and why.
Evan Kuo: “We are pleased to be the first monetary asset integrated with Chainlink’s service.
This integration helps us further decentralize our oracle by supplying price