Read Our New Project Report About Bitcoin (BTC) - The World's Largest Cryptocurrency
A Native Collateral Token of the Flexa Payment Network.
Share this article
AMP is the native collateral token in the Flexa payment network. Flexa is a cryptocurrency payment network that makes it easier for merchants to accept crypto payments.
AMP is the native token of the project. The current use cases for AMP includes:
Collateral: On the Flexa payment network, AMP is staked by users to provide the sellers with collateral to unconfirmed cryptocurrency payments. For each transaction, an equal value of AMP is locked in a smart contract before the cryptocurrency payment (e.g. Bitcoin) is confirmed. If the payment ends up not being confirmed, the AMP token staked is used to repay the sellers.
Staking: Users can stake AMP to increase the capacity of the Flexa payment network. Stakers 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.
The project consists of the following major components working in conjunction:
Flexa Payment Network: Flexa is a pure-digital payment network. The Flexa network uses AMP to collateralize payments and enable users to spend their digital assets in the real world.
Collateral Managers: 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: Partitions within the AMP token contract allow different collateral managers to enforce rules upon separate, distinct spaces associated with the same digital address. This enables users to "stake" tokens without transferring them to a smart contract.
As at November 23rd 2021, the maximum and total token supply of AMP are 99,440,733,928.
Learn more about the token distribution of AMP here.