# 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><br>
* **Zero Technical Integration** — If your platform supports ERC-20 tokens, it will support WAMPL by default without any technical considerations. <br>
* **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`<br>
* **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. <br>
* **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. <br>
* **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 `WAMPL`and vice-versa.

## Overview

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.&#x20;

* **Contract Address** —  The `WAMPL` mainnet contract address is: **`0xEDB171C18cE90B633DB442f2A6F72874093b49Ef`**, view it on [Etherscan](https://etherscan.io/address/0xEDB171C18cE90B633DB442f2A6F72874093b49Ef).&#x20;
* **Github Repo** — The contract code can be found on github at: <https://github.com/ampleforth/ampleforth-contracts/blob/master/contracts/WAMPL.sol>.&#x20;
* **Logo** — Below is the official `WAMPL` logo to be used in integrations.

![](https://1790235423-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MkNMc1gQVnWl-KJCxdj%2Fuploads%2FcEdRjo7WXVXRe0QtRsYN%2Fwampl.png?alt=media\&token=968cc4c9-9547-48fa-83ad-de5817ac6dc4)

## WAMPL FAQ

Below we capture some of the most common questions asked about Wrapped-AMPL. Please join the [Ampleforth community Discord server](https://discord.gg/mptQ49m); 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.&#x20;

#### 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 `AMPL`and vice-versa.&#x20;