[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"2bee9bd5-2d92-42fc-af3f-dd9cc42f1328","updated_at":"2022-07-26T10:45:00+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"The cryptocurrency industry is becoming more diverse when a series of new projects with multiple striking features appear, typically the Amp project. Amp is described as a novel digital collateral token that provides instant, verifiable guarantees for any type of value transfer. Let’s take a deep dive into Amp and its AMP token!","sapo":"The cryptocurrency industry is becoming more diverse when a series of new projects with multiple striking features appear, typically the Amp project. Amp is described as a novel digital collateral token that provides instant, verifiable guarantees for any type of value transfer. Let’s take a deep dive into Amp and its AMP token!","title":"Amp (AMP): Is It a Good Investment?","content":"

Overview of Amp

Amp is a universal collateral payment method of the Flexa Network, designed to facilitate fast and efficient transfers for any real-world application with security and irreversibility.

As a versatile merchant-centric digital payment platform, Flexa is hardware compatible at the point of sale (POS) and designed to reduce costs and checkout times as well as preventing fraud.

Employing one-time flexible codes for security, Amp is an open-source protocol that helps decentralize risk for users with smart contract features purpose-built for collateral.

Amp becomes a global payment layer for transferring and unlocking assets without waiting for confirmation to use, supporting the digital or physical currency, coins or Central Bank Digital Currency (CBDC).

History of Amp

Flexa Network and Amp Token were co-founded by CEO Tyler Spalding and Trevor Filter.

In August 2020, the Amp team announced the official launch of the Rinkeby testnet in the Flexa Capacity dApp.

The Amp team released the first batch of updates to Flexa Capacity and the Collateral Manager to support value transfer activities.

The core of the Amp collateral model, the concept of Partitions, was released to allocate collateral across different applications, use cases, or beneficiaries.

In September 2020, Amp announced the launch of the Amp mainnet. With the launch of Amp and collateral contracts mainnet, Flexa Capacity announced the migration to Amp at a 1:1 exchange rate.

With a massive explosion on June 16, 2021, the AMP token hit an all-time high at the price of $0.1211.

About Amp (AMP) token

Built on the Ethereum network, Amp (Symbol: AMP) is the native collateral token in the Flexa payment network, used for any property transfers.

AMP token serves the following use cases:

Collateral: AMP token is staked by users to provide the sellers with collateral for unconfirmed cryptocurrency payments. For each transaction, an equal value of AMP is locked in a smart contract before the cryptocurrency payment is confirmed.
Staking: Users can stake AMP to increase the capacity of the Flexa payment network and receive staking rewards from network transaction fees.
Governance: Users can vote on governance proposals, including future grant recipients, partnerships, cross-chain integrations, and DeFi collaborations.

How Amp works

Amp project consists of the following major components working in conjunction:

Flexa Payment Network is a pure-digital payment network, using AMP to collateralize payments and enabling users to spend their digital assets in the real world.
Collateral Managers are escrow accounts built with different rules and specifications that can be customized to fit various use cases. Users can create a collateral manager with AMP as collateral to use in applications.
Token Partitions within the AMP token contract allow different collateral managers to enforce rules upon separate, distinct spaces associated with the same digital address, enabling users to "stake" tokens without transferring them to a smart contract.

Features of Amp

Amp project boasts distinctive features, including:

Collateral as a service: Amp collateralization is tested, audited, and freely available for anyone to use. It’s easy to build apps that lock and unlock Amp on demand to secure transfers, enable lending, and make value move more quickly.
Extensible and open-source: Amp was designed to be flexible and future-proof, making it possible to create and deploy custom collateral managers for your app to interface with Amp on your terms.
Non-inflationary: Implementations of the Amp adoption benefit from increased liquidity and decentralization, thereby reducing volatility and enhancing collateral quality as a result of the token’s fixed supply.
Asset-agnostic: Any kind of digital or physical transfer can employ Amp as collateral to secure transactions without depending on a consensus mechanism or form of asset.

Outlook on AMP token

As a digital collateral token, by staking, AMP can secure any type of asset users desiring to transfer digital payments, fiat currency, loan distributions and proceeds from property sales.

As new DeFi systems and protocols are growing rapidly on a global scale, AMP appears to be a common asset in investors’ portfolios, increasing the optimization of the quality of the collateral.

At the time of writing on July 26, 2022, the AMP token remains at the price of $0.008436.

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","tags":[],"image":{"fileName":"amp-deep-dive.png"}}]

Amp (AMP): Is It a Good Investment?

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