The Ampleforth Protocol
targets the CPI adjusted 2019 US dollar and automatically expands or contracts the quantity of tokens in a user's wallet based on price [*]
Rebases are applied every day at 2AM UTC and only if the target deviates by more than deviation_threshold
(adjustable, currently 5%).
The Ampleforth protocol's supply changes are proportional and non-dilutive. If a user owns Y% of the network before a rebase, the user will always own Y% of the network unless the user buys or sells more AMPL.
Rebases are smoothed by a sigmoid curve that caps supply changes at its asymptotes. It has shaping parameters that determine: lower asymptote, upper asymptote, and the steepness of the curve (growth rate). These parameters are currently set to -0.1, 0.1, and 3 respectively.