How AMPL rebase tokens if they are in your hard wallet?

[IggySe7ven]

Guys, help me understand this please,

I read that exchanges lock up AMPL coins  from traders every day to rebase them, so they add or subtract the supply, it also makes it unable to withdraw them, but I dont understand If lets say you have this token in your hardwallet how can they access them to rebate and change your supply?

[bartolo]

What you have in your hardwallet are not the tokens but the keys to access the tokens. Your tokens are in the contract and any change that is made in the contract will affect your tokens no matter where you store your keys. For example, if devs decide to freeze the contract for whatever reason, you will not be able to move your tokens independently of the wallet you are using.

[ampu]

The token rebase mechanism is magical, people only keep tokens and get more tokens printed when the value of the AMPL decreases. Currently, the capitalization of AMPL is getting bigger and bigger with the number of tokens issued.
I think that would be illegal and make the AMPL no more scarce and more created.

[IggySe7ven]

The token rebase mechanism is magical, people only keep tokens and get more tokens printed when the value of the AMPL decreases. Currently, the capitalization of AMPL is getting bigger and bigger with the number of tokens issued.
I think that would be illegal and make the AMPL no more scarce and more created.

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No , its actually other way around,  from my understanding, they have these negative rebates if the price of AMPL token drops bellow 1 dollar they actually take away tokens from your account, I already lost 2/3 of value of my portfolio and they drained tokens from my account.  Even though the price recovered  past  where I bought it from because of rebates I am down 2/3 of what I had in dollar value.

[IggySe7ven]

The token rebase mechanism is magical, people only keep tokens and get more tokens printed when the value of the AMPL decreases. Currently, the capitalization of AMPL is getting bigger and bigger with the number of tokens issued.
I think that would be illegal and make the AMPL no more scarce and more created.

ok, thanks for explanation, is that only for ERC-20 tokens? They cant do the same with bitcoin because its not smart contract correct?

[asriloni]

The token rebase mechanism is magical, people only keep tokens and get more tokens printed when the value of the AMPL decreases. Currently, the capitalization of AMPL is getting bigger and bigger with the number of tokens issued.
I think that would be illegal and make the AMPL no more scarce and more created.

ok, thanks for explanation, is that only for ERC-20 tokens? They cant do the same with bitcoin because its not smart contract correct?

The ability to do a rebase came from the AMPL contract and AMPL team can't do that to the coin with another contract as it's not under control of AMPL contract. Bitcoin is also using another chain that is different with ethereum and that will never happen forever.

That's only for AMPL, any other ERC20 can't be rebase by them as they have no contract of over those coins with different contracts.