Ampleforth

SPOT Protocol introduces a novel approach to crypto lending that eliminates the need for liquidations. The system works by tranching AMPL tokens in a Rotation Vault, creating: - SPOT: A senior, low-volatility claim - stAMPL: A junior tranche that absorbs volatility Key features: - Solvency maintained through structure rather than margin calls - Funding Rate mechanism automatically rebalances system demand - Continuous operation independent of weekly tranche rotations - Protocol fees scale with system equilibrium The result is a permissionless, censorship-resistant lending system that protects both lenders and borrowers without traditional liquidation mechanisms.

Major stablecoin issuers continue to exercise significant control over user funds: - Circle has blacklisted over $100M in USDC across 275+ addresses - Tether has frozen more than $500M to date - Recent actions include freezing 32 addresses linked to conflict zones The SPOT protocol offers an alternative approach: - No admin keys or pause functions - Cannot be censored or reversed - No personal information required - Immune to regulatory intervention *Key Insight*: While major stablecoins maintain deliberate control mechanisms, censorship resistance emerges as a crucial feature for trust-minimized financial systems.