Editors Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.
Editors Note: This article comes from
Chatting with Xiaozha (ID: xiaonazha88)
Chatting with Xiaozha (ID: xiaonazha88)
, reprinted by Odaily with authorization.
1. There are two algorithmic stablecoins on the market, one is ampl; the other is compound stablecoins such as esd\bac. Since ampl proposed the concept of rebase, the most imitated disk this year is the rebase concept stablecoin. The more imitated, the more innovative it is, and the more difficult the concept is to understand. If you understand everything, there is no need for the imitated disk to exist.
2. Ampl anchors the actual purchasing power of one dollar in 2019, which is different from one dollar, so the median rebase value of 1ampl this year is slightly higher than $1. As long as the dollar continues to be printed, this median value will continue to shift. In the future, it may be US$1.1 or US$1.5. For example, 1ampl=the actual purchasing power of US$1 in 2019=the face value of US$1.3 in 2030, even 100 years later, 1ampl=the actual purchasing power of US$1 in 2019. This is the basic value particle I am talking about. Like the protons in the real world, they are eternal. 1ampl=the actual purchasing power of US$1 in 2019. Adding the time coordinates will permanently fix the value, and achieve eternity at the mathematical level, just like btc The same as the 21 million cap.
3. There are two things about ampl. One is basic value particles. The other is to make people recognize this positioning. Using ampl as the unit of measurement in the blockchain world is to capture the market consensus on this positioning. This is an extremely difficult long-term operation.
4. Theoretically speaking, as long as the market recognizes it, the entire network can only need one ampl, which is a fixed exchange rate, such as:
1ampl=0.0000001btc; 1ampl=0.0001eth; 1ampl=0.001uni, there may be 10 million different tokens in the whole network, but as long as the market approves, just use one ampl to mark it, but—but—, this is Impossible, the blockchain economy is an effective market with full competition. It is impossible for tens of millions of tokens to automatically form an exchange rate with ampl without generating transactions. Remember: only transactions can mine value and generate prices! ! ! For example, a new alice token, even if the whole network recognizes the basic value particle positioning of ampl, but the whole network does not know how much the alice token is worth, so the alice token must be traded with ampl to know the value of the alice token. Transactions are priced! Transactions generate prices! Therefore, it is impossible for the whole network to only have one ampl to complete the pricing of all tokens. Every time a new token is issued, a corresponding number of ampl must be issued to complete the effective pricing of the token. At the same time, a certain token will die or depreciate. The corresponding amount of ampl must be deflated. The total value of the entire blockchain economy and the entire network is constantly changing every hour and every second, and the change of the total value is priced through countless transactions with ampl. The number of tokens is unlimited and happens at any time, the transaction volume is always changing, and the pricing is always changing and in an unstable state. The ultimate goal of ampl is to discover value and price pricing for the entire network—the economic unit of the entire network.
5. Does that mean that the total value of the entire network is equal to the total value of ampl? No, the relationship between the two is the same as the current m2 and m0. In the real world, the relationship between the two is about 10:1. The superfluidity of the blockchain economy Sexuality will change the ratio of the two to 20:1 or even 100:1. For example, the total economic value of the entire network is 100 million ampl, and the actual circulation of ampl is 5 million ampl based on 1:20.
6. The value particle function of ampl is endogenous, as mentioned in the above 2. The concept of stable currency has already been positioned, but the market does not recognize it at present. This can only be realized through long-term operation. It is too early and there is not enough Dont even talk about the size of BTC, the current size of BTC is a roller coaster ride from time to time.
7. The ampl project party has a clear understanding of this, so it is positioned in the asset function in the early stage, an asset that undergoes double changes in price and quantity, and the asset becomes the most marketable commodity through continuous transactions. This commodity is currency.
8. I think there are two problems with some multi-currency stablecoins on the market: one is to establish a rule to stabilize the price, such a small volume and so little consensus, the coverage is extremely narrow, and the rules are complex As a result, market feedback cannot be directly transmitted, and some large players are still maintaining pricing. How can the pricing of all participants in the entire network be more universal. The second is to be anchored at one dollar of legal currency, which is essentially different from ampl. I have discussed before that there is a permanent one-way (depreciation) offset in the value of legal currency. These multi-currency stablecoins are anchored in a It is an error in the underlying logic to want to become a unit of measurement for an unstable target.
9. I think there are two effective pricing methods: one is the legal currency pricing method, only one party is the national mandatory pricing method, and the other is the pricing method of all participants, which is the pricing of ampl. The former is suitable for a society where information coverage and transmission are not smooth, while the latter is tailor-made for an information society. Any pricing approach in between is bound to be eliminated by both. (The Federal Reserve has a preliminary human-style market pricing method, but it is also attributed to national pricing here)
