**Authors**  
  
**Gauntlet Team**  
*July 1, 2020*

## Ampleforth Protocol and Trading Strategy Assessment

### Key Takeaways

#### Market Assessment
We explore historical market data for the AMPL token and compare its behavior with that of other crypto assets to assess whether it exhibits price stability and/or uncorrelated returns.

#### Mechanism Analysis
We measure the ability of AMPL to achieve its price target via the percent of time that the AMPL/USD price spends inside the target equilibrium price band.

#### Trading Strategy Simulation
We use agent-based simulation to explore trading strategies in the context of the novel AMPL rebase mechanism and to better understand the dynamics of AMPL maintaining its nominal price target.

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