# About SPOT

SPOT is a perpetual note backed by fully collateralized AMPL derivatives. SPOT can be held directly as a refuge from inflation, used as a peer-to-peer digital cash, or held as alternative collateral to USDC within reserves. Its price will likely float within a range similar to AMPL and you can think of SPOT as a derivative that strips away most of AMPL's supply volatility. 

For more about Spot, see the dedicated site [spot.cash](https://spot.cash)

### Key Points

* SPOT is an ERC-20 token
* SPOT is a perpetual wrapper that abstracts AMPL's supply volatility from holders. It's price will be similar to AMPL (which targets the CPI adjusted 2019 dollar). The asset can function as both a refuge from volatility and a refuge from inflation
* SPOT is fully collateralized by AMPL backed [derivatives](https://docs.ampleforth.org/glossary#derivatives)
* SPOT does not rebase and holders of SPOT do not experience supply volatility
* SPOT is governed by FORTH governance

To understand the high level concepts behind the SPOT perpetual have a look at [Applications Now and Looking Forward](https://docs.ampleforth.org/about-the-ampleforth-protocol#applications-now-and-looking-forward).