11 months ago
Date: 05 Mar 2022 - 16:00

AMT Token AMP is a digital asset designed to decentralize risk in financial transactions. It works as digital collateral to enable instant verifiable collateralization for any form of value transfer.Since the outcome is often uncertain while transactions waiting for confirmations AMP tokens act as collateral for any cryptocurrency transaction performed via the Flexa crypto payment network. In other words it insures the value of transfer will remain unconfirmed.AMP was created by Flexa the worlds leading network in puredigital fast and fraudproof payments.State of the Project AMP was created by crypto payments company Flexa and is the main opensource token powering Flexas network. It aims to solve the problem of transaction security and guarantees transactions a fully digitally secured forum from source to settlement. AMP is an ERC20 token with a fixed supply and is therefore noninflationary. The token was introduced in 2020 and replaced the previous native token of Flexa the FlexaCoin FXC which was not able to be upgraded with new functionalities. By the end of 2021 more than 41300 locations in the U.S. and Canada were using Flexa network. The AMP protocol powers a fully autonomous collateralization system. The AMP token features onchain staking operations direct interfaces with openssource extensible collateral managers and more. The token is designed in a way that allows any holder to use it independently of the blockchain consensus mechanism or the type of asset used. AMP can be used for staking on the Flexa network with no lockup period.nbspDevelopment Stage The AMP testnet launched in August 2020. Two security audits were released the same year. Flexa added support for fraudproof Lightning Network payments in 2021 enabling compliant and fraudproof bitcoin transactions.Fundraising Flexa was funded by 3 private sales of the FlexaCoin FXC at the beginning of 2018 2019 and again in April 2019 raising a cumulative 14.1 million.nbspRoadmap There has been no roadmap for AMP since 2020. Rumors are circulating that Flexa may announce a partnership with Shopify sometime around summer 2022.Team The cofounders and team behind Flexa and by extension AMP are Daniel McCabe Trevor Filter Zachary Kilgore and Tyler Spalding. CEO Tyler Spalding has more than 20 years of tech experience having previously been CTO of the worlds largest gift card marketplace 8216Raise and an engineer for the U.S. Air Force Spece Alliance and NASA. MIT and Harvard graduate Daniel McCabe also has experience from working with NASA and Lockheed Martin. The New Yorkbased Flexa has up to 10 known employees. Key investors venture capital firms 8211 8216Pantera Capital8216 and 8216Access Ventures8216. Fintech investors 8211 82161kx8216 and 8216Robot Ventures8216.nbspCommunity AMP social media accounts Twitter 44.6K Reddit 44.3K Facebook 8.9K Telegram 4.2K Discord 1K Social media followers have often complained about the Flexa teams silence regarding updates on its future development plans. Concerns have also arisen about the companys lack of progress.Key metricsMaximum supply 92547638199 AMPCirculating supply 42.23 billion AMPMarket Cap 1.2 billionAlltime high ATH 0.120813 Jun 2021Alltime low ATL 0.00250501 Nov 2020Markets Available to buy on 55 cryptocurrency trading platforms including the biggest centralized crypto exchanges.nbspWallets Various crypto wallets that support the ERC20 token standard.nbspAsset allocation Half of the AMP token supply is allocated in equal parts to the merchant development fund 25 and to grant the developers 25. 20 of the supply is allocated to the founders and employee pool with 20 for token sales and 10 for the network development fund. The total number of unique addresses that hold AMP assets in the network has increased by over 16 during the last three months. VerdictAMP is a token with strong fundamentals it was created to solve a serious transaction security issue and the use case of the token is highly relevant and unique as AMP offers a way to ensure the safety of assets in ongoing transactions.The team behind the AMP token and Flexa payment network is solid and highly experienced especially on the technical side of operations. Flexa has a rapidly growing list of partners and merchants worldwide who support Flexa payments and dozens of crypto options. It should be noted that the token is young and requires more time to achieve broader adoption.Valid concerns are being raised toward AMP about the prolonged silence regarding its development progress and future plans. Some concerned backers have addressed the slow progress of Flexa while working in a highly regulated environment and their lack of public announcements outside of attained agreements.With a current 1.2 billion market capitalization the AMP token can be considered a midsize market cap crypto. Being a relatively young token AMP has room for growth especially in terms of further market adoption. EMAIL NEWSLETTER Join to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors picks 1x a week delivered straight to your inbox.contactform7You can always unsubscribe with just 1 click.

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