The AmpleSense DAO Officially Launches With the kGeyser Challenge
The AmpleSense DAO’s liquidity mining kGeyser program will start with “Zeus.” The Zeus kGeyser will be used to distribute the DAO’s kiloAmple (kMPL) token to AMPL/ETH liquidity providers. Zeus will be launched after the community works together to unlock four Achievements in the kGeyser Challenge.
Summary
- The AmpleSense DAO is an independent organization focused on proactively expanding the ecosystem of products, services and solutions around Ample and the elastic finance economy.
- The DAO has developed KiloAmple (kMPL), which has a maximum supply of 50,000 tokens. kMPL tokens will be used by community members to vote on proposals for projects and initiatives to be funded by the DAO, and provide holders with other benefits, such as token rewards.
- 93% of the kMPL token supply will be distributed to the community via the DAO’s liquidity mining programs: Zeus and Apollo (and the DAO’s Treasury). Zeus and Apollo will be launched after the community works together to unlock four Achievements in the kGeyser Challenge. kMPL in the DAO’s Treasury will be used to fund ecosystem development, marketing and other activities.
- The DAO has received notification from the Ampleforth Foundation that it will be unveiling a decentralization roadmap for the Ample token.
About the DAO and Building the Infrastructure
A few weeks ago, we introduced the AmpleSense DAO, an independent, community-powered organization with one goal: Speed the development of products, services and applications that use or feature Ample and grow the elastic finance economy.
The DAO was founded by four community members with no official connection to the Ampleforth core development team.
Since the announcement we have been hard at work building the DAO’s infrastructure. One major accomplishment was the development of the Community Hub. This custom-built social network is already being used to help the community organize, discuss and (soon) act on projects that greatly expand use cases for Ample and grow the elastic finance ecosystem.
Another achievement was the development of the DAO’s token: KiloAmple (kMPL). With a maximum supply of 50,000 tokens, kMPL will be used to fund the DAO’s operations and have several use cases, including:
- Governance: kMPL holders will be able to shape the DAO’s activities by voting on proposals for projects and initiatives requesting funding or support.
- Air Drops: Voting kMPL holders will receive exclusive air drops of tokens from projects the DAO funds (if the project has a token).
- Finance: The DAO plans to develop “elastic vaults” that provide depositors with the opportunity to earn from various yield farming and liquidity mining programs featuring Ample and other DeFi assets. kMPL holders will earn fees from elastic vaults.
- Token Rewards: Wherever possible, projects the DAO initiates itself will include opportunities for kMPL holders to earn token rewards in exchange for providing services, such as additional governance.
Decentralization of the Ampleforth Protocol
Events over the past few weeks have raised questions about the decentralization of the Ampleforth Protocol. The issue of decentralization is important for the DAO because if it supports products, services and applications utilizing the Ample token, they must not be vulnerable to censorship from centralized actors.
In recent days, the Ampleforth Foundation and the core development team has assured the DAO and the community that the protocol will eventually be fully decentralized and censorship at the protocol level will no longer be possible in the future. The Foundation’s upcoming decentralization roadmap will outline its specific plans for community governance of the protocol. Like other community members, the DAO will provide feedback on the decentralization roadmap.
Collaboration with the Ampleforth Team and Foundation, and DAO-Ampleforth Team AMA
Since the announcement of the DAO, many community members have been asking about the relationship between the DAO and the Ampleforth Foundation. The DAO is committed to collaborating with the Ampleforth Foundation and the core development team on ecosystem projects of mutual interest. However, the DAO will be focused on investing in a range of initiatives shaped by the community and may have a more different and more aggressive development timeline in many instances.
It is important to note as an organization that the DAO will not be engaged in Ampleforth protocol governance (outside of participating as a member of the community). The Foundation and DAO will always remain separate entities with distinct, but complementary goals and objectives.
DAO/Ampleforth Team AMA
In the coming weeks, the DAO and members of the Ampleforth team will be appearing in a joint AMA to discuss how the DAO and Foundation will collaborate, answer questions about how both will be working to grow the Ample and Elastic Finance ecosystem and more.
Announcing the Zeus And Apollo kGeyser Liquidity Programs
The AmpleSense DAO is pleased to announce the liquidity mining programs: Zeus and Apollo. In Zeus, community members will be able to earn kMPL tokens by staking Uniswap v2 AMPL/ETH tokens to the DAO’s “kGeyser.”
Both kGeysers feature another benefit: The Rebase Bonus. kMPL will be distributed to kGeyser stakers based on Ample’s current positive or negative rebase status. The daily reward is .5% of the bonus pool during positive rebases and 1% during negative.
Apollo will launch after Zeus, and reward community members who provide kMPL liquidity. A community vote will be held to determine which token is paired with kMPL.
The kGeyser Challenge: The Community Will Decide When the kGeysers Launch
Today, we’re announcing the kGeyser Challenge, which will encourage the community to work together to unlock the Zeus and Apollo kGeysers and start the liquidity mining process.
The kGeyser Challenge will require the community to unlock four Achievements:
- Spread the word by retweeting or liking the kGeyser Challenge announcement tweet (click here to view)
- Join the Community Hub (Community members will receive early email notification of the Zeus kGeyser’s launch)
- Generate community points by joining and participating in the the DAO’s Community Hub
- Earn the Educated Amplifier Badge, which will require community members to read the Ampleforth Redbook, the DAO’s governance documentation, and pass a brief quiz.
Join the kGeyser Challenge: Learn more about the kGeyser Challenge and how to take part by clicking here. The Zeus kGeyser will be launched after the four challenge Achievements are unlocked by the community.
