Introduction to the AMP token

English Discussion General
#1

Summary

Amp is a collateral token used on the Flexa network. The token is staked by the community in the Flexa Capacity contract to wallet projects in order to secure digital payments at merchants. There are currently two projects (Gemini Pay and SPEDN) that have integrated the Flexa SDK to enable real-world spending at merchants like Nordstrom, Lowes, Gamestop, Petco, and Baskin Robbins.

Flexa is ranked #18 on DeFi Pulse with $140M locked, and #1, with 90% dominance in Payments.

Metrics for AMP token and Flexa Capacity (as of 01/12/2021)

Max total supply: 100B

Circulating supply: 34.8B

Total value locked: $140M

AMP trading volume: $1M (e.g,. Gemini, Bittrex, Poloniex); Uniswap liquidity: $1M

Technical resources

AMP whitepaper: https://amptoken.org/whitepaper.pdf

AMP token on Etherscan

Flexa staking contract address: 0x706d7f8b3445d8dfc790c524e3990ef014e7c578

Flexa staking contract website: https://app.flexa.network/

Flexa whitepaper: https://flexa.network/whitepaper.pdf

AMP Audits

Consensys Diligence (June 2020): Amp | ConsenSys Diligence

Trail of Bits (August 2020): publications/amp.pdf at master · trailofbits/publications · GitHub

Select Flexa/AMP articles

Coindesk: New Flexa Tech Will Let You Spend Bitcoin From Other Apps Too

Fundstrat: Flexa: On a mission to make digital assets universally spendable

Medium: AMP the new digital collateral token

Social Resources

AMP Website: https://amptoken.org/

AMP Blog: Amp Blog – Medium

AMP Telegram: Telegram: Contact @ampchat

AMP Twitter: https://twitter.com/amptoken

Flexa Discord - includes AMP channel - (official): https://discord.gg/T4EY6yx

Flexa Website: https://flexa.network/

Flexa Blog: Flexa – Medium

Flexa Twitter: https://twitter.com/flexahq

2 Likes
#2

This looks like a great project. What are the merchant and/or client fees for the network?
If the protocol is integrated into a project can that project also on-ramp Fiat?
The spending limit looks small are there plans to increase it?

#4

Welcome :smiling_face_with_three_hearts:
And cAMP-cETH mining pool will open at UTC 14PM 1.14, come to share the first Mining!!!

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#5

Hi, I’m not part of the team but I’ve been following the project for a while so hope I can help answer your questions.

  1. The merchant fees aren’t publicly available, but because Flexa cut out all the credit-card ecosystem middlemen it means the fees are significantly lower than other payment solutions. These lower fees from a critical part of the value prop for merchants.

  2. Flexa is currently integrated into the Gemini App (Gemini Pay) so that can be used as one fiat on-ramp. In the future, the Flexa SDK can be integrated into wallets that have integrated other fiat on-ramp solutions for flexibility. Flexa also partnered with NCR and showed this POC demo at the NRF show in New York last year where they used Flexa (powered by AMP) to buy crypto with cash. Buying Litecoin using NCR self-checkout terminals - YouTube

  3. Yes there are plans to increase the spending limits much higher. Waiting for more details on the timing but it shouldn’t be much longer. An explanation from the last community call is timestamped here: https://youtu.be/aB1xD0YuptM?t=2779

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#6

Thank you for the response…

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#7

New bee :rocket::rocket::rocket::rocket:

1 Like
#8

Awsome, keep up the good work!

1 Like