SPOT is a perpetual note backed by fully collateralized AMPL derivatives. SPOT can fulfill many properties of modern day stablecoins but is not pegged to any particular value. 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.
The asset is currently being developed by the Ampleforth genesis team. Full documentation has not yet been released, initial contracts are complete and scheduled for audit.
- 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 will not rebase and holders of SPOT will not experience supply volatility
- SPOT will be governed by the FORTH token
To understand the high level concepts behind the SPOT perpetual have a look at Applications Now and Looking Forward. Please stay tuned and check back here for updates later.