A brief introduction to RMPL
RMPL is a evolution in money design,it is founded on principles never unheard of before,it improves upon the inefficiencies of traditional monetary policies as well as bitcoin and current crypto principles.
It’s volatility is inherent on its supply and not it price,it undergoes rebasing at random intervals of 0-48 hours.
The many flaws of fiat money
The central bank of any nation is the sole institution that have the power to print more money,they can checkmate the flow of money.
Fiat money is flawed in some ways,one like the US dollar which was backed by gold was stopped since 1971 by President Nixon and from there our money had nothing backing it except just government authority,another problem is that of dilution,for every new bill introduced into the economy,it dilutes the purchasing power of those who currently hold it.
The coming of Bitcoin
Satoshi was disheartened by the fiat system hence he designed money that cannot be controlled by a single entity,he designed bitcoin and 10 years down the line the world has seen that there can exist money that is absolutely outside government control.
There are no dilution with emission of new bitcoin since the supply is capped.
The mainstream adoption of bitcoin and other crypto is at all time highs,millions are using it everyday,but out beloved Bitcoin and most crypto have some design flaw,Bitcoin supply is capped,many may argue that the cap upon the supply is a good thing but we now a currency whose volatility is dependent on demand,as more people demand for bitcoin,the price goes up and vice versa.
Enter RMPL
RMPL is a currency that improves on the original design of AMPLEFORTH,It births a currency whose supply is constantly changing at random times.
It solved the(inelasticity problem with capped cryptocurrencies
It also helps solves the diversification problem,most altcoins have are sharply correlated to bitcoin,they rise in price when bitcoin rise in price and vice versa,RMPL is the reverse.
How does RMPL work?
It uses oracles,entities that feed the smart contract with external price information to either increase/decrease the supply or leave it same.
The oracles provides current exchange price of the RMPL tokens as well as provide a consumer price index value(CPI) that is used to establish a “target price”.
The “target price” is a representation of the current purchasing power of the US dollar.
The protocol assumes three states,expansion,contraction and equilibrium.Expansion: In this state,the overall supply of the token across all wallets holding the RMPL tokens will be proportionally increased if the price difference between the previous day and today is above $1.05. If James bought RMPL tokens at $1 each yesterday and today due to spike in demand,the tokens are now worth $3,the protocol will adjust the supply accordingly,James will now two extra RMPL tokens each worth $1.
For contraction,the price goes down from $1 to let say $0.5,RMPL will reduce the supply across everyone wallet and James will no more have 1 RMPL but 0.5 RMPL(price goes below $0.95).
The equilibrium state is the state where the supply is affected it’s neither increased or decreased,that is the price is around ($0.95 -1.05).
Unlike in AMPLEFORTH were the rebasing is done at a fixed time,the RMPL rebasing is randomized,it occurs at random time between 0-48 hours, this is to prevent front running and price manipulation carried out by bots.
Token Use cases
It can be used as a feasible collateral in DEFI protocols,It can also be used for payments as merchants are less distracted by volatility,It can also help investors diversify their portfolios and finally be the next evolution of money.
Token supply
Team : 22%
Future Development:15%
Ecosystem:13%
OTC : 33%
Uniswap Liquidity : 17%
Cradle
The RMPL cradle is the liquidity pool of RMPL tokens,you can stake your tokens and get rewards.
Official Links
Telegram: https://t.me/RMPLTG
Website: https://Rmpl.io/
Twitter: https://twitter.com/RmplDefi
Medium: https://medium.com/@rmplproject
RMPL Cradle: https://rmpl.io/cradle/
Author details
Telegram: Ighcrypto
Twitter: Cryptokey101