Meet AMP the next-gen solution for instant crypto payments. You better read this because you will be using it

Our Crypto Task Force on Discord brought to our attention a while ago – the Amp token. The more I read into it the more I realize this is the future. Meet Amp, the next-generation solution for instant crypto payments acting as collateral. You better read this because you will be using it.

Summary 

  • Amp is the revolutionized version of Flexacoin $FXC and acts as a digital collateral token designed to make transactions faster and more efficient especially for uses that require higher security and irreversibility.
  • Amp is used by Flexa to secure transactions and build networks that can be trusted by users. Flexa was basically migrated to Amp $AMP on September 8, 2020.
  • Imagine, buying a pair of Nike shoes and paying with Bitcoin BTC. The transaction might take hours to be completed so instead Amp token will make the same value of the transaction instantly (which is why it acts as collateral) and will ensure that the transaction has been made. In case that the BTC has not been delivered the receiver can exchange Amp to cover losses.

 

What is $AMP?

Amp is a decentralized collateral token built on Ethereum.

Amp is the revolutionized version of Flexacoin $FXC. Amp acts as a digital collateral token designed to make transactions faster and more efficient especially for uses that require higher security and irreversibility.

Since Amp acts as collateral it is therefore ensuring that the value of any transfer will be made even though is not confirmed yet. For those who are new to this, the transferring process can take from few seconds to few hours to days. This is why Amp was created so it can be released instantly and make available to collateralize another transfer. Moreover, in extreme cases that the consensus is not achieved Amp which is the collateral can instead be liquidated to the equivalent value just in the Amp form and hence cover losses.

Amp is also asset-agnostic. Amp’s feature set is universally compatible with any form of value transfer—digital or physical—and can therefore be used to facilitate instant, irreversible transactions for any kind of asset.

What is more, Amp collateral has an additional concept of collateral called the collateral partition. This represents subsets of Amp tokens that can be used and provide collateral for specific reasons. These subsets are distinguished on the Ethereum blockchain and they carry unique addresses. Each collateral partition can be endowed with its own set of rules regarding privileges and can also implement a predefined partition strategy in order to enable special capabilities (e.g., collateral models in which tokens are staked without ever leaving their original address).

Amp is used by Flexa to secure transactions and build networks that can be trusted by users. Flexa was basically migrated to Amp $AMP on September 8, 2020. You can read the full docs here.

AMP token collateral
Source: https://amptoken.org/

About Flexa

Flexa was introduced in 2018 a time when instant collateralization for digital asset transactions was a new concept. Today major innovations like decentralized liquidity pools, new types of spendable tokens and many more are demonstrating why collateral is important to accelerate in digital asset payments. New standards such as ERC777 and ERC1410 have been created to enhance token functionalities and are fully compatible with ERC20.

Technical Aspects

The token is currently traded at $0.026650 after hitting its all-time high in February of $0.036. What makes Amp interesting is that is an open-source token and decentralized that can provide more potential for integration of new assets and value transfers.

Amp is currently the 252nd largest cryptocurrency project when measured by total market capitalization and has a daily trading volume of about $983,000 and a total market cap of $119 million.

Bottom Line

Although Amp is not one of the most popular cryptocurrency projects currently trading on major exchanges it has many optimistic investors that believe in its future. Imagine, buying a pair of Nike shoes and paying with Bitcoin BTC. The transaction might take hours to be completed so instead Amp token will make the same value of the transaction instantly (which is why it acts as collateral) and will ensure that the transaction has been made. In case that the BTC has not been delivered the receiver can exchange Amp to cover losses. It really sounds like a coin with a purpose that can actually work, especially nowadays that more companies adapt to the idea of accepting BTC payments.

Disclaimer

We are very bullish on this stock acc to the fundamentals mentioned above and technical, but we urge you to do your own due diligence and decide if this stock can fit your investment portfolio. We are not certified analysts, and this is not a recommendation whatsoever but our own personal opinion and should be considered as so, stock displayed high volatility and can be considered a risky investment and may cause loss of capital so please analyze the stock carefully before making a decision.

Natalia C. - Junior Analyst at FDGT Academy

Natalia C. - Junior Analyst at FDGT Academy

I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.