AMP is a digital collateral token built as an ERC-20 token. It debuted in September 2020 and serves as the collateral asset for the Flexa network. Flexa is a merchant network designed to support low-cost digital payments in a fraud-resistant way, and it also provides a payment app under the same name.

The total supply of AMP is fixed at 100 billion tokens.

What are Amp’s key features and how does it work?

On the Flexa network, payments are backed in real time using AMP as collateral. This structure helps spread and decentralize risk, while merchant fees are used to independently purchase AMP tokens on the open market. AMP stands out because it uses smart contracts that are set up to lock and later release AMP as collateral. To join the Flexa network, users must provide AMP to these designated smart contracts through meta-staking. Participants therefore stake AMP into pools that protect the network. 

While the collateral is held, the transactions made using other cryptocurrencies-such as Ethereum-are confirmed on their respective blockchain networks, and the payment is settled in fiat to the recipient. This approach addresses several challenges seen in the crypto space, including slow transaction finality, price swings, and barriers to wider crypto adoption.

It’s also important to highlight that the AMP token contract is immutable, and the collateral pools are permissionless, allowing participants to supply and withdraw without restrictions related to timing, finances, or competitive factors. 

AMP can be viewed as a type of transaction insurance: if a Flexa network payment fails due to prolonged transaction times, the AMP token is used to help cover the resulting losses.

Flexa spreads transaction insurance across the network, separating merchant settlement from the consumer’s initial payment so it can deliver immediate finality-as-a-service. This design also lets payment tools, applications, and communities collectively stake AMP tokens on behalf of users. 

What can AMP be used for?

The Flexa Network supports crypto-collateralized payments with brick and mortar merchants.

Supported cryptocurrencies such as BTC, ETH, and others can be used to pay for goods and services, while the merchant receives payment in fiat.

Where can you buy AMP?

AMP is available on many CEXs and DEXs, including Binance, Coinbase, Bybit, and Uniswap.