TVL  SPOT  AMPL Loading . . .

    Spot Spot Spot

    The first durable
    decentralized flatcoin

    spot_enrichment_rate:
    ( USD)


    describe $spot


    Commodity monies like gold and bitcoin are durable, decentralized, and inflation resistant, but they aren't stable enough for commerce.

    SPOT is a low-volatility commodity money. It's durable, decentralized, and inflation resistant, like a commodity money, only far more stable. The SPOT token is created by reorganizing the volatility of its underlying collateral asset (AMPL) into two derivative assets (SPOT, stAMPL):


    AMPL
    SPOT
    stAMPL
    • SPOT — is a low volatility derivative of AMPL that can be held as a safe asset
    • stAMPL — is a high volatility derivative of AMPL

    Holding SPOT and stAMPL together (in the minting ratio) is like holding AMPL because volatility is conserved in the system. This is a significantly better way of creating stable decentralized assets.

      How it Works

    Read the SPOT primer to learn how SPOT and stAMPL are created from AMPL.

    get ( SPOT )

    SPOT is a low volatility commodity money. Holders of SPOT benefit from durable long-term stability. Any SPOT holder can pair it with USDC to generate volume-based fees by staking on Uniswap. For answers to common questions about SPOT see the FAQ.

    spot_enrichment_rate:loading
    SPOT: 0xc1f33e0cf7e40a67375007104b929e49a581bafe

    get ( AMPL )

    AMPL is the underlying collateral that enables SPOT protocol. Any holder of AMPL benefits from SPOT's network growth. Stakers additionally earn rewards and help secure SPOT as a store of value by depositing their AMPL in the rotation vault. Holding staked AMPL is similar to holding AMPL with magnified volatility. To the learn about AMPL visit the ampleforth website.

    stampl_vault_apy:loading
    stampl_rebase_multiplier:loading
    AMPL: 0xd46ba6d942050d489dbd938a2c909a5d5039a161

      Featured Reading (4 min)

    Low volatility gold — the asset that's missing  

    “Genius hits a target no one else can see.” — Schopenhauer
     So what do we mean by the asset that’s missing? Plainly, we mean an asset that integrates the best of fiat monies (like the dollar) and commodity-monies (like gold or Bitcoin) ... read more

    describe $spot --benefits



    Key Benefits of the SPOT Protocol

    • Decentralized

      SPOT does not rely on any centralized collateral. This means assets cannot be forcibly seized or frozen by administrators of the system.

    • No Pegs

      Both SPOT and stAMPL are floating price tokens that represent claims on collateral. Just as UNI-V2 LP tokens can occupy any price without breaking, so can SPOT and stAMPL.

    • Proportional Redemption

      Both SPOT and stAMPL are simple proportionally redeemable claims on baskets of collateral. Just as UNI-V2 pools can unwind to an empty set without triggering bank-runs or cascading-liquidations, so can SPOT and stAMPL.

    • Tracks CPI

      Each SPOT is redeemable for approximately 1 2019 USD worth of value and the token can be held as a refuge from long-term inflation. This is because SPOT is a freely redeemable claim on AMPL which targets the CPI-adjusted dollar.

    • Scalable

      SPOT adoption translates into demand for AMPL allowing the system to scale. This is unlike liquidation market based systems which rely on continuous demand for leverage on collateral to scale (ie: demand for DAI does not translate into demand for ETH).

    • Durable

      SPOT's collateral is tranched in a manner that progressively degrades into its base-asset (AMPL) under stress rather than triggering bank-runs or cascading liquidations. In times of turmoil the system bends safely rather than breaking, by becoming temporarily more volatile.

     faq


    • 1. What is a flatcoin?

      Flatcoin is a general term of art used to describe a new generation of stable assets that track purchasing power metrics other than the US dollar.

      SPOT is a decentralized flatcoin designed to bend rather than break under extreme circumstances. More precisely, SPOT is a low volatility commodity money.

    • 2. How durable is SPOT?

      The SPOT token is extremely durable. Its protocol has no peg and no catastrophic breaking conditions. In extreme market scenarios the token simply becomes temporarily more volatile, bending rather than breaking.

      Instead of a peg, SPOT has a bounded range of volatilies. In its typical state, where all the tranches in SPOT’s collateral set are fresh, the token is stable. But in the most extreme condition, where all the tranches in SPOT’s collateral set have matured, SPOT is precisely as volatile as AMPL.

      For more context, read: The SPOT Flatcoin — A Low Volatility Derivative.

    • 3. Why should I hold SPOT?

      SPOT integrates the best of fiat monies like the dollar and commodity-monies like gold or Bitcoin. SPOT is:

      • Much less inflation-prone than fiat monies
      • Much more stable than commodity monies
      • Similarly durable & uncensorable to commodity monies

      To understand why low volatility commodity monies are important and how SPOT fits into this new asset class check out:

    • 4. What is AMPL and how does the SPOT use it?

      AMPL is the underlying collateral asset that enables SPOT protocol. It is a price stable, but supply volatile cryptocurrency. AMPL's unit of account function greatly simplifies the creation of on-chain derivatives through tranching. To learn about tranching see the SPOT primer.

      Any holder of AMPL benefits from SPOT's network growth.

    • 5. What makes SPOT different from Ethena?

      SPOT and Ethena use very different approaches. Ethena creates stability and yield through delta neutral positions across centralized exchanges. The SPOT protocol uses tranching to reorganize the volatility of a medium volatiltiy asset (AMPL) into high and low volatility perpetual derviatives. The most notable differences are:

      1. SPOT is decentralized:
        There are no custodians or administrators executing trades on centralized exchanges.
      2. SPOT is scales naturally with demand::
        Increased demand for SPOT translates directly into increased supply of SPOT.
      3. SPOT is a low volatility derivative
        Although SPOT is mean-reverting it has no peg and the protocol is happy to let prices float.

    • 6. What makes SPOT different from DAI?

      SPOT and DAI use very different approaches. DAI creates stability through liquidation markets. The SPOT protocol uses tranching to reorganize the volatility of a medium volatiltiy asset (AMPL) into high and low volatility perpetual derviatives. The most notable differences are:

      1. SPOT is decentralized:
        SPOT does not rely on centralized collateral of any kind.
      2. SPOT scales naturally with demand::
        Increased demand for SPOT translates directly into increased supply of SPOT.
      3. SPOT is a low volatility derivative
        Although SPOT is mean-reverting it has no peg and the protocol is happy to let prices float.

      Note: Liquidation market based approaches are vulnerable to cascading liquidations and are difficult to scale in general — hence their use of centralized collateral (like USDC).

    • 7. What makes SPOT different from Terra / Luna?

      SPOT is a low volatility derivative. It is a one-directional claim on a basket of collateral that has no peg and no death-spiral minting mechanics.

      Instead of a peg, SPOT has a bounded range of volatilies. In its typical state, where all the tranches in SPOT’s collateral set are fresh, the token is stable. But in the most extreme condition, where all the tranches in SPOT’s collateral set have matured, SPOT is precisely as volatile as AMPL.

      For more context, read: The SPOT Flatcoin — A Low Volatility Derivative.

    • 8. What is the "Enrichment Rate"?

      The enrichment rate is a reward paid to spot holders by stakers in the rotation vault. When SPOT is enriching at X%, this means the redeemable value of SPOT is growing at X% per year.

      To learn more about it see: SPOT v2 — Enrichment, debasement, and the cost of stability.

    • 9. What is rebasing, does SPOT rebase?

      Rebasing is the process of automatically adjusting the quantity of units in user wallets based on demand. AMPL rebases, but SPOT does not.

      To learn more see the official website.

    For an overview of how the system works read the SPOT primer.

      join_the_community

    We'd love to meet you. Members of the community can help answer questions you have about the SPOT protocol and staking programs.