What is Amp?
Amp (AMP) is the native token of the payments network Flexa. Being an Ethereum-based, ERC-20-compatible token, AMP serves as a means to allow Flexa’s instant payment authorizations. The cryptocurrency was co-developed by Flexa and blockchain tech company ConsenSys with a fixed supply of 100 B units. Providing it as collateral, users get rewards for transactions. Everyone can stake AMP on the Flexa crypto protocol through apps. Tokens can be locked in actual time to secure deals before the verification. Thus, Flexa can instantly secure payoffs in any currency and make the DLT advantages accessible for the merchant–consumer payment activities. Amp has been designed as a low-volatility collateral token that constantly appreciates in value as a direct result of its utility. It mirrors a shift toward open token networks wherein users create and derive all intrinsic platform value through endogenous economic incentives. Since Amp is backed only by its literal use and not extrinsic assets, it is critical to model its economic foundation.