About Wrapped AMPL
Although AMPL is an ERC-20 token that works natively with on-chain wallets and many decentralized finance applications, the nature of automatically changing balances sometimes calls for special technical considerations.
Wrapped-AMPL is a token that wraps AMPL similar to wrapped ETH. It facilitates ecosystem integrations on both centralized and decentralized platforms. In some cases wrapped-AMPL (WAMPL) will be used almost invisibly in the background for bridging, routing, custody, etc. In other cases WAMPL will be a direct access point for end users who want to take a position in the AMPL network, but don't immediately need to use it as a unit-of-account.

Key Benefits

  • Fully Redeemable On-Chain — Wrapped-AMPL is fully redeemable for AMPL on-chain. A user interface for wrapping and unwrapping AMPL can be found at https://wrap.ampleforth.org
  • Zero Technical Integration — If your platform supports ERC-20 tokens, it will support WAMPL by default without any technical considerations.
  • Easy to Understand  Users have come to expect that asset prices go up when there’s more demand and down when there’s less demand for it. WAMPL has this easy to understand property as well, which means there’s less initial education required. Users can gradually develop an understanding of AMPL through WAMPL
  • Non Rebasing AMPL automatically adjusts the quantity tokens in user wallets based on demand. This key feature allows AMPL to act as a decentralized unit of account and DeFi building-block. However, the nature of changing balances breaks traditional assumptions for matching engines, custodians, etc. Wrapped-AMPL has a simple floating price. Although WAMPL cannot be used as a unit-of-account as AMPL can, it can be held by users and network and unwrapped on-the-fly as needed.
  • Fixed Supply — The maximum total supply of WAMPL is 10 million tokens. Holding 100,000 WAMPL is equivalent to holding 1% of the AMPL network.
  • Network Effects Transfer — Because AMPL and WAMPL are fully redeemable for one another, the growth of the Ampleforth community and demand for AMPL translates directly to demand for WAMPLand vice-versa.


Wrapped-AMPL is the output of a simple contract that allows users to deposit AMPL and receive a non-rebasing ERC-20 token and vice-versa. Since both WAMPL and AMPL are on the Ethereum platform, there are no bridges or third-party custodians that stand between redeeming one token for another.


Below we capture some of the most common questions asked about Wrapped-AMPL. Please join the Ampleforth community Discord server; our team and members of the community look forward to helping you understand and use WAMPL.

1. Is holding wAMPL as good as holding AMPL?

Holding WAMPL provides exposure to AMPL. Although WAMPL has a floating price and cannot be used as a unit-of-account, from a portfolio's perspective buying and holding WAMPL is equivalent to buying and holding AMPL.

2. How many wAMPL are there?

The supply of WAMPL depends on how much of the AMPL network has been wrapped by users. The maximum total supply of WAMPL is 10 million tokens—that is to say, if 100% of the world's AMPL were to be wrapped, the total supply of WAMPL would be 10 million.

3. Does demand for wAMPL impact the market cap growth of AMPL?

Yes. If the demand for WAMPL suddenly changes, redemption arbitrage will propagate this change in demand to AMPLand vice-versa.