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AMP - The future of in-store payments?

AMP - The future of in-store payments?

How AMP is making it easy for merchants to accept crypto.

Concise Crypto
February 25, 2022

Amp (AMP)

AMP Crypto

What is AMP?

AMP (formerly Flexacoin) is a token created by Flexa, a payment platform, to act as collateral for any type of crypto payment. With AMP, businesses can ensure their crypto transactions are accepted with instant confirmation. AMP can be staked and held in escrow until a payment is verified. This allows businesses to accept crypto payments in ETH, BTC, SOL, etc. from the point-of-sale without worrying about losing money through double-spend or blockchain issues. If a transaction is corrupt or interrupted the AMP collateral is used to make the business owner whole. Essentially, their crypto transactions are secured and insured through the AMP token.

Why does AMP have value?

AMP acts as collateral and is a form of insurance for businesses accepting payments in crypto. AMP token holders can stake their AMP and earn transaction fees from the Flexa network. Payments using the Flexa network have fees around 1% which is much less than traditional Visa/Mastercard fees of 3.2% and higher. So AMP/Flexa is better for businesses accepting payments.

What are the benefits of AMP?

● It solves a unique problem: accepting crypto payments securely

● 2% - 4% APY for staking AMP (as of right now).

● The token supply is fixed decreasing volatility

What are the disadvantages of AMP?

● Crypto as a form of payment hasn’t taken off yet and AMP needs that to ultimately be successful

● There is a chance your staked AMP gets liquidated if transactions fail

Paying with crypto

AMP’s consensus:

Finality as a service through Flexa

What are AMP’s tokenomics?

AMP was distributed in a 1:1 ratio to Flexacoin holders. FXC (now AMP) was allocated in the following way: 20% was sold through public and private sales; 25% allocated to the Merchant Development Fund, 25% to Developer Grants, 20% to the founders, and 10% to a Network Development Fund. The total supply is 100 billion tokens.

Who founded AMP?

Tyler Spalding, who is also the founder of Flexa Network.

Who are AMP’s investors?

Flexa, the creator of AMP, has conducted various Initial Coin Offerings (ICO), raising over $20 million. Its main investors are Robert Leshner, Volkert Doeksen, Douwe Lycklama, Barry Sternlicht, Pantera Capital, Nima Capital, 1kx, Access Ventures, and ICONIUM.