Amp

Amp (AMP) is a token issued on Ethereum and designed as collateral for digital payments. Its most widely known use is the Flexa network, which enables payments with crypto assets in stores. Because some time can pass before crypto payments are finalized on the blockchain, AMP bridges the uncertainty in between with collateral, helping merchants accept a payment as immediately secured.

In this system, AMP holders stake their tokens into specific collateral pools. When a payment is made, collateral equal to the relevant amount is temporarily set aside for that transaction; once the payment completes successfully on-chain, the collateral is released. If the transaction fails for any reason, the AMP that was set aside can be used to cover the merchant's loss. Users who provide collateral receive rewards for this service. The token's smart contract has a flexible structure that allows collateral to be partitioned for different purposes.

The price of AMP can change with the payment volume passing through the Flexa network, the amount staked in collateral pools, how quickly crypto payments spread in retail and competition in the payments space. For Amp, Lzzo.com takes the price on the Binance AMP/USDT pair, converts it to a dollar basis at Coinbase Exchange's USDT/USD rate and shows it on the chart.