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☎️ COINBASE VENTURES FUNDING AMPLEFORTH SPOT

☎️ COINBASE VENTURES FUNDING AMPLEFORTH SPOT

Day: 08 | Time: 18:45:49 Coinbase Ventures has provided a $1 million funding for a new digital asset that tracks the Consumer Price Index, offsetting inflation. Ampleforth has announced the launch of an alternative to fiat stablecoins called SPOT, which reduces volatility by combining characteristics of commodity-backed money and peer-to-peer digital money. SPOT consists of two assets, a low volatility "senior tranche" and a "junior tranche" that absorbs most of the volatility. Users can deposit AMPL tokens to create SPOT and stAMPL, and can also redeem the derivative tokens for AMPL. SPOT aims to provide a store of value with commercial applications in a context of high inflation and centralized instability.

Ampleforth protocol tranching mechanism
SPOT perpetual tranches
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Source: Cointelegraph