Ditto is a decentralized finance (DeFi) project that runs on the Binance Smart Chain (BSC). It is a fork of the Ampleforth (AMPL) protocol. The goal of the project is to maintain a stable price of $1. Ditto achieves this by altering the supply of the token based on the demand.
When a token has an elastic supply, the number of tokens in circulation can either decrease or increase depending on the situation. Hence, its supply is not limited, as it automatically changes relative to demand through a balancing process called Rebase.
Depending on the price target, a rebase can either be positive or negative. The rebase aims to adjust the token price to the price target, which in the case of DITTO is set at $1. If the price falls below the target, a negative rebase occurs. As a result, the supply drops and the price is expected to increase to the target value.
The opposite happens when the price is higher than the price target: a positive rebase occurs. The supply rises and DITTO price drops to the target.
Regardless of the current rebase, the ratio of the users’ funds to the total supply will always remain the same. The project offers two ways through which users can make profits. They can either earn when there is a positive rebase or when the market capitalization increases.
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