Transcript of the Ampleforth office hours on 15.12.2021
Question 1:
Are the geysers coming to Avalanche anytime soon?
Brandon:
Next geyser round should start near when the existing ones end like normal. So roughly mid January.
Question 2:
Excited for Avalanche geysers. I pulled all of my geyser funds a bit back because I refuse to get stuck with high fees on Ethereum. If it’s on Ethereum, I refuse to play at this point.
Simon:
Ethereum fees are making it difficult for a lot of people to participate on Ethereum. One of the advantages of the Universal Vault is that fees can be reduced geyser round to geyser round because LP tokens can simply be subscribed to any new geyser program. One of the other benefits of course is that users retain control/custody of their own funds.
Brandon:
Yeah, totally with you. We all love Ethereum but the current state makes it very difficult to use for most people.
Question 3:
Is it possible we’ll be able to easily bridge existing crucibles/vaults over to Avalanche? i imagine not since the pools on Avalanche are different than on mainnet — but not sure if there’s some way around that?
Brandon:
I don’t see a strong reason to move universal vaults across a bridge right now. It should be easy enough to create a new one on a satellite chain. Ideally, the gas fees are lower there as well so it shouldn’t have a great impact.
Question 4:
Have you guys heard any updates from Benqi?
Brandon:
No updates since the last one. (Benqi is going through security audits and their risk modeling with Gauntlet).
Question 5:
We should work with an autocompounding service on Avalanche for the geysers if that is somehow possible.
Brandon:
I like this idea a lot. I’ll look into it some and see how feasible it could be.
Question 6:
Will all the geysers work on Avalanche? Or only the AMPL Aave Avalanche one?
Brandon:
The way to think of it is that each geyser is already a separate, standalone instance from all the others. They look like they’re tied together because they exist within the same web UI. A geyser on Avalanche will only be on Avalanche, just like a geyser that’s on Ethereum is only on Ethereum. They’ll all be accessible in the same way, though.
Question 7:
Will this be the last office hours of the year with the holidays around the corner?
Simon:
That’s probably the case — this is probably it with next week really up in the air. Will see who is all around- it would be AMPLitheater next week. Who knows maybe the soon(TM) comes to fruition for Mooncake by then? That would make for a pretty fun and interesting AMPLitheater so let’s see what happens.
Question 8:
Are there still plans to deploy AMPL to Tron and Near?
Brandon:
There’s no active work on those right now. I think other platforms have risen to new demands which put them higher on the priority list. This is speaking just from the dev team though — it’s worth mentioning that there are no gatekeepers to bridging AMPL, so anyone could do it independently if they wanted to.
Question 9:
Are there plans to let governance decide about the geyser amounts? Not that I think it would be good idea currently, as you guys have far more knowledge about markets, but just interested.
Brandon:
Yeah we’ve talked about this a little. I like the idea at some point, but hard to say when it makes the most sense. FORTH allocation will be determined by governance from day one, which could include allocation to geysers if the community wanted.
Question 10:
What will happen with the price target for AMPL with the CPI being reset to the 2019–2020 CPI starting next year?
Brandon:
Are you referencing the computation procedure for the CPI metric itself? Not quite sure I understand the question. I think they decided not to change, last I heard. The protocol currently uses PCE (Personal Consumption Expenditure) which is from a different bureau completely (BEA).
Follow up question:
Referencing this: https://www.bls.gov/cpi/notices/2021/2022-weight-update.htm
Brandon:
Right, I saw the same. We don’t use “the” CPI value, though, so doesn’t impact us. PCE and CPI both measure very similar things, but they have different ways to compute them. The PCE is more heavily weighted by the Fed, for example.
People often say “CPI” as shorthand. It’s also used more in the media, I think, because the name is just way easier to hear and understand. But also, we should remember that the goal is not to track “the CPI” or “the PCE”. We use some data feed as a measurement tool for the “target purchasing power” that we had at launch. So we shouldn’t tie ourselves unnecessarily to the PCE, if we see a better option in the future.
