About AMP
AMP is an ERC-20 token used to collateralize payments on the Flexa asset transfer network. As Flexa’s exclusive collateral token, AMP is used to minimize risk between counter-parties in transactions and facilitate crypto-collateralized payments at virtually any retail or online location. AMP price is updated on Binance in real time.
AMP can be collateralized with assets such as Bitcoin (BTC) or Ethereum (ETH), then used to make payments via Flexa instantaneously. AMP can be used to secure virtually any kind of asset transacted between parties, including fiat currency, property sale proceeds, loan distributions, and digital payments.
Payments made with AMP through the Flexa network are collateralized via a staking process, supported by smart contracts that lock assets until transactions are verified. Once a transaction is verified, collateral is automatically released to the counter-parties.
The open-source nature of AMP makes it possible for developers to use AMP technology to create secure transfer and collateralization platforms or applications. AMP can be considered a form of transaction insurance that uses collateralized AMP to offset losses incurred by counterparties should a transaction fail. By decentralizing transaction insurance, AMP eliminates third parties, such as merchant settlement, from consumer-to-business payments.