San Francisco. 11th June 2019 – Ampleforth, a digital asset protocol for producing smart commodity money, announced today the addition of three new members to their board of advisors: Noah Jessop, tech entrepreneur and venture capitalist, Sam Lessin, former Facebook employee and published journalist, and Michael Karnjanaprakorn, investor and serial entrepreneur.
Ampleforth is a new type of synthetic commodity that features a different movement pattern designed to dampen the volatility and correlation with other digital assets. In addition to being the first blockchain project to debut on Bitfinex an Ethfinex’s IEO platform, Tokinex, Ampleforth previously raised $4.75 million in funding to finalise development of the protocol from Brian Armstrong, True Ventures, Founder Collective, Slow Ventures, Pantera and FBG.
Noah Jessop is a successful entrepreneur and venture capitalist, having led CommandIQ to an acquisition by Publishers Clearing House (PCH) in 2015. He served as the Head of Data at PCH before joining the seed-stage fund, Founder Collective, to advise blockchain startups.
“Many people are curious crypto,” he says. ”They’re wondering if it’s the next internet or wondering where the developers are building and it’s an interesting thread, but it’s a far more economic and global phenomenon than is generally accepted. Ampleforth is allowing us to question a lot of the systems that society uses to network itself and that technology has never been able to evolve.”
Sam Lessin is currently the co-founder and CEO of Fin, a virtual personal-assistant company, and serves as a partner at leading Silicon Valley firm, Slow Ventures, working with some of the world’s most innovative companies, including Pinterest, ClassPass, Casper, TaskRabbit, and Postmates. He’s also an avid investor in the future of money and has personally participated in funding rounds for Ripple, Robinhood, and Venmo. Prior to Fin, he served as the former Vice President of Product Management at Facebook. In his down time, Lessin writes a bi-monthly column for The Information called Modest Proposals.
Michael Karnjanaprakorn is a serial entrepreneur who is currently working on a new company called Otis, a marketplace for alternative investments. He’s the founder and chairman of Skillshare, an online learning community for creators, and helped grow the platform to seven million+ members, $50 million+ raised, and 25,000+ classes.
Previously, he was an early employee at Hot Potato, a check-in service that was acquired by Facebook, and Behance, an online platform that enables creative professionals to showcase and discover creative work via online portfolios that were acquired by Adobe. He is an angel investor in Notion, 88 Rising and Hashgraph and enjoys getting involved with companies he feels passionate about.
Ampleforth’s protocol receives exchange-rate information from trusted oracles and propagates that to holders of Amples by proportionally increasing or decreasing the number of tokens each individual holds according to the magnitude of the exchange rate fluctuations over the previous 24 hours. For traders, these changes in the exchange rate and quantity translate into changes in Ample’s market capitalization. Ultimately, unique trader behavior in response to the protocol’s incentives is expected to produce an asset price with lower correlation to Bitcoin than other digital assets.
“We have been overwhelmed by the amount of support that our advisors have provided us,“ says Evan Kuo, CEO and founder of Ampleforth. “Noah, Sam, and Michael all have unique work experiences and the team is excited to bring them on to help us identify strategic opportunities.”