Meter enables $AMPL’s multichain strategy
Welcome Ampleforth to the Meter Family!
We are excited to announce the official launch of the Meter Passport cross-chain interoperability infrastructure and the integration with Ampleforth to build the world’s first multi blockchain asset class and dApps.
We have been running Meter Passport in the last few weeks and it is finally ready for prime time. Meter Passport is a N-way blockchain router that allows assets and information to flow directly from one blockchain to another within minutes or even seconds. It is secured by a group of decentralized relayers. The initial set of relayers includes Protofire, Hashquark, Wetez, InfinityStones, and Meter.io An implementation with an unlimited number of relayers will be available later this year.
Ampleforth is one of the first dApps launching on Meter Passport. The infrastructure allows Ampleforth to not only transfer AMPL tokens across blockchains but also use inter-blockchain smart contract calls to control the token rebasing and the total circulation on all blockchains through the master smart contract on Ethereum.
We are excited to partner with Ampleforth to build the world’s first multi-chain asset class and showcase the possibility of composable DeFi across multiple blockchains. With the help of such infrastructure and asset class, DeFi smart contracts will be able to automatically move liquidity, find the best price and yield across different blockchains in the future.
AMPL is the first rebasing currency and a key DeFi building block for denominating stable contracts. The AMPL protocol adjusts total supply daily based on market conditions, transferring volatility from price to supply. AMPL’s elastic supply policy does not rely on traditional banks or lenders of last resort, unlike stablecoin models. Because of this unique approach, AMPL can be used as a unit of account for smart contracts in a manner that’s not possible with other cryptocurrencies. Learn more about AMPL here and follow Ampleforth on Twitter.