SMPL

SMPL is an algorithmic unit of account on Solana that targets 0.01 US dollars adjusted for CPI. When demand shifts it does not move the price; instead it scales the number of tokens in every wallet so the unit price returns to target. A rebase only triggers when the price deviates more than 5% from target, the size of each change is bounded by a sigmoid curve between lower and upper asymptotes, and rebases run on a daily cycle with the coefficient applied to all accounts at once.

Supply changes apply to all addresses at once without a user transaction and do not dilute ownership: holding 1% of the network before a rebase still means 1% after it. Prices come from a weighted oracle, so manipulating the feed cannot directly drain funds; because the unit price sits near one cent, on-chain accounting and quoting can settle in whole units, and the design moves volatility from price to quantity.