The live price of Amp is - per (AMP / USD) with a current market cap of $379.82M USD. 24-hour trading volume is - USD. AMP to USD price is updated in real-time. Amp is -% in the last 24 hours with a circulating supply of 84.23B.
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AMP is an ERC-20 token used for collateralizing payments on the Flexa asset transfer network. As the exclusive collateral token for Flexa, AMP minimizes counterparty risk and facilitates collateralized cryptocurrency payments at virtually any retail or online location.
Users can collateralize AMP using assets such as Bitcoin (BTC) or Ether (ETH), and then use AMP to make instant payments via Flexa. AMP can be used to secure transactions involving nearly any kind of asset, including fiat currency, proceeds from property sales, loan distributions, and digital payments.
On the Flexa network, payments made with AMP are collateralized through a staking process supported by smart contracts that lock assets until transaction verification is complete. Once verified, the collateral is automatically released to the counterparty.
As an open-source token, AMP allows developers to build secure transfer and collateral platforms or applications. AMP can be seen as a form of transaction insurance—if a transaction fails, the staked AMP can be used to cover potential losses caused by the counterparty. By decentralizing transaction insurance, AMP removes the need for third-party intermediaries such as merchant settlement services in consumer-to-business payments.
AMP is the native token of the project. Its current use cases include:
Collateral: On the Flexa payment network, users stake AMP to provide collateral for pending cryptocurrency payments to merchants. For each transaction, an equivalent amount of AMP is locked in a smart contract until the crypto payment (e.g., Bitcoin) is confirmed. If the payment ultimately fails, the staked AMP is used to reimburse the merchant.
Staking: Users can stake AMP to increase the capacity of the Flexa payment network. Stakers receive collateral rewards from network transaction fees.
Governance: Users can vote on governance proposals, including decisions on future grant recipients, partnerships, cross-chain integrations, and DeFi collaborations.
The project is composed of the following key components:
Flexa Payment Network: Flexa is a purely digital payment network. It uses AMP to collateralize payments and enables users to spend their digital assets in the real world.
Collateral Managers: Custodial accounts are created with various rules and specifications, customizable for different use cases. Users can create a collateral manager using AMP to be implemented within applications.
Token Partitions: Partitions within the AMP token contract allow different collateral managers to enforce rules within separate, distinct spaces linked to the same digital address. This enables users to “stake” tokens without transferring them to a smart contract.
AMP allows users to collateralize asset transfers by staking AMP, ensuring the value of assets in transactions is effectively secured. Users can lock and unlock AMP on the Flexa payment platform and other decentralized collateral platforms that utilize AMP.
The total supply of AMP tokens is fixed at 100 billion.
AMP was co-founded by Tyler Spalding and Zachary Kilgore from New York. Spalding is the founder of three software companies and previously served as CTO at Raise. Kilgore, before co-founding Flexa and AMP with Spalding, also worked at Raise as an engineering manager alongside him.
Flexa is widely recognized as a decentralized collateral protocol that enables collateralization of any transaction or asset used on a platform without the need for centralized intermediaries. For example, if counterparties want to guarantee the execution and validation of a digital asset transaction within a specified time frame, AMP can be used as collateral. If the transaction fails to execute within that period, the staked AMP can be liquidated to complete the value transfer.
The Amp to other currencies exchange rate?
