KiloAmple (kMPL – View the kMPL contract) is a multi-purpose asset developed by the independent, community powered AmpleSense DAO that will:
kMPL is a unique multi-purpose cryptocurrency that will help the AmpleSense DAO deliver multiple benefits to the elastic finance ecosystem.
Here are a few questions you may have about kMPL and its various use cases.
The DAO is launching kMPL to help it achieve its primary mission: Support products, services, education and applications that help Ample (and select other elastic cryptos) become widely-used and in-demand asset. kMPL tokens in the DAO’s Treasury will be used to support development of these solutions. Most importantly, kMPL will be granted to teams creating applications featuring Ample and other elastic assets and the DAO will undertake its own product development initiatives.
Both the AmpleSense DAO and the Ampleforth core development team are dedicated to expanding the Ample and elastic finance ecosystem. The key difference with the DAO is that the focus will be on community-demanded products and services across a range of elastic finance-focused use cases, while the core development team may have a narrower set of priorities, execution time frames and areas of focus. However, the DAO may collaborate with the core team on certain initiatives and undertakes its own activities as guided by community votes.
Yes. kMPL token holders use the token to vote on the types of initiatives should be funded by the DAO. These important votes from kMPL holders will shape what projects the DAO leadership executes on. Note: AmpleSense governance does not extend to decision-making at the protocol level for Ample (FORTH was developed for this purpose) or other elastic assets the not developed (or managed) by the DAO.
About 93% of kMPL has been distributed via DAO kGeysers (and the DAO Treasury for projects, applications and initiatives related to the DAO’s mission).
The purposes of kMPL and AMPL are very different. kMPL will help fuel DAO operations, drive DAO decison-making and allow the community to benefit directly from DAO activities. Ample is a base money asset designed to be used widely across decentralized and elastic finance. kMPL will be used to expand the reach and impact of Ample’s and other select elastic assets.
The FORTH governance token is designed to facilitate governance of Ampleforth at the protocol level. kMPL is unrelated to, and unaffected by the FORTH token.
Yes, as outlined above, kMPL holders (who actively vote on DAO initiatives) will receive token air drops from supported projects. Holders will also receive a portion of earnings from DAO-developed “Elastic Vaults”, lending platforms and other activities. (Learn about the Pioneer Fund, which will deliver token rewards to kMPL holders generated by DAO activities.)
No. The maximum supply of kMPL is 51,000 tokens. No additional tokens can be minted.
No. The kMPL token is fully decentralized and is not controlled by the DAO. This means the DAO has no ability to freeze transfers or block wallets or individuals from making transactions utilizing kMPL.
kMPL is similar to YFI (yearn.finance) in terms of how it will be embedded into a range of DAO-funded initiatives and generate token rewards for holders.Tokens like UNI and FORTH which are designed to aid governance of one protocol (i.e., Uniswap, Ampleforth), are very different from kMPL in function and design.
kMPL is a standard ERC-20 token. It does not rebase.
Buy kMPL on Uniswap by clicking here.
FORTH is a governance token launched by the Ampleforth team to help drive the decentralized governance of the Ampleforth protocol. FORTH will be used by community members to vote on protocol-related issues such as rebase parameters, timing, support for additional blockchains, etc.
The kMPL token is utilized to allow the community to guide the development of the independent community-run AmpleSense DAO, which is focused on launching applications and use cases for Ampleforth (and select other elastic assets).
The kMPL governance token is unrelated to and unaffected by FORTH.
The AmpleSense DAO has launched two kGeyser programs, Zeus and Apollo to distribute the kMPL token.
kGeysers feature a rebase bonus. Each day at 02:30 UTC, kMPL from a bonus pool is distributed to stakers. The base bonus is ~.6% of the bonus pool, which doubles during Ample’s negative rebase periods.
More than 93 percent of the 51,000 kMPL has been distributed/used to benefit the community via:
*DAO Founder’s shares vest over a 12-month period (via the Sablier dapp).
Note: Roadmap shown below is subject to change based on DAO governance and market events.