The Amp price today is $0.002597 USD. Amp is up 16.59% in the last 24 hours. The market cap is $109,655,599 USD. It has a circulating supply of 42,227,702,186 AMP coins.
What Is Amp (AMP)?
Amp is a decentralized, open-source protocol that provides collateral for value transfers. Launched in 2020, it offers instant, verifiable guarantees for transactions.
Amp aims to enable fast, efficient, secure payments. It solves issues like slow confirmations, volatility, and adoption. It provides collateralization through partitions and managers on Ethereum. Partitions collateralize accounts, apps, or transactions with directly verifiable balances.
Managers lock, release, and redirect collateral to support transfers. Amp supports diverse collateralization use cases and predefined partition strategies.
Who Are the Founders of Amp?
Amp’s parent company is Flexa, a blockchain payments company based in New York that specializes in FinTech and builds a future with more efficient, secure and affordable real-world payments. Flexa was co-founded in 2018 by Trevor Filter, Zachary Kilgore and Tyler Spalding.
Spalding, who serves as Flexa’s CEO, launched the Amp project with help from the Flexa team. He holds a bachelor’s degree in Mechanical Engineering and a master’s degree in Aerospace, Aeronautical and Astronautical Engineering from the University of Illinois at Urbana-Champaign. He attended Harvard Business School, and in 2011 graduated with an M.B.A from MIT. He has been investing and launching blockchain projects since 2011.
Spalding is also the co-founder & CEO of Tastebud Technologies, and the former CTO of Raise.
What Makes Amp (AMP) Unique?
The entire Amp ecosystem is open-source and decentralized, which helps the platform to decentralize risk to its users through smart contracts; and helps customers to integrate value transfer and assets. The Flexa network and the AMP token therefore act as insurance by protecting buyers and sellers from fraudulent activity and possible losses.
Through Flexa, a seller (or merchant) pays a commission for accepting payments in crypto. If there’s a problem with a transfer, the network will reimburse any costs to the merchant. If a merchant doesn’t receive the required crypto assets, then the amount of AMP necessary to cover the losses is liquidated, while the staked AMP tokens act as collateral.
The Flexa network, in conjunction with the AMP token, offers a unique and decentralized solution for crypto transactions, where investors can buy AMP, stake tokens, receive passive income, and merchants are able to accept almost instant and insured payments.
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