Token contract address: 0xff20817765cb7f73d4bde2e66e067e58d11095c2
Project website: https://amptoken.org/
Bancor pool (AMP-BNT) contract address: [0x0F4a8a06C22Ba49e98d15223A701062c40873F7a](https ://etherscan.io/address/0x0f4a8a06c22ba49e98d15223a701062c40873f7a)
Bancor pool trading volume: #17 within 24 hours ($100K+)
Discussion
Flexa is a payments network founded back in Feb 2018 and is making strides in enabling cryptocurrencies to be spendable at major retailers worldwide. Through the integration of the Flexa SDK, two wallet projects (Gemini Pay and SPEDN) can actively spend at merchants like Nordstrom, Lowes, Gamestop, Petco, and Baskin Robbins. Flexa Capacity is a collateral manager contract for the Amp token that insures instant, secure payments between any digital wallet and merchants’ banks. Flexa allows instant payment settlement by temporarily collateralizing all payments with the Amp token. Due to the security and streamlined nature of this process, merchants utilizing Flexa pay a fraction of what they would pay traditionally on payment processing and fraud resolution.
[1]
Tokenomics
Amp is a collateral token (ERC-20 compatible) that was co-developed by Flexa and Consensys. Currently, its primary use is securing the entirety of the Flexa payment network ($740M TVL). Amp is staked as collateral for wallet projects in the Flexa Capacity contract, enabling real-time digital payments at merchants. All network proceeds are used to repurchase Amp, distributed as rewards to collateral providers. Amp is open-source and includes a novel collateral partition strategy that allows it to collateralize value transfer without requiring tokens to be moved into staking contracts. Note, Amp was formerly Flexacoin (FXC) but there was a 1:1 swap of the tokens in Sep 2020 to upgrade the partition functionality. [2]
Community and Communication
Flexa has an active Discord and Twitter as well as several information articles on the Flexa blog. Amp, as a token that can function independently of Flexa, has its own active Discord channel (within the Flexa Discord), Telegram, Twitter, and Reddit as well as a separate Amp blog. The founding development team (Tyler Spalding, Trevor Filter, and Zachary Kilgore) collectively have 10+ years of experience in payment solutions at companies including American Express, Raise, and Stripe (acquired by Raise). [3]
Available Audits
Consensys Diligence (June 2020): https ://consensys.net/diligence/audits/2020/06/amp/
Trail of Bits (August 2020): https ://github.com/trailofbits/publications/blob/master/reviews/amp.pdf
Other certifications
Approved by the New York Department of Financial Services (NYDFS) as a virtual currency: https ://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/approved_entities_number
Market and Trading Data (as of Feb 11, 2021)
Max total supply: 100B
Circulating supply: 36.3B
Flexa network total value locked: 19.4B AMP (~$740M)
24h trading volume:
#3 Gemini ($15M)
#30 Uniswap ($6.5M)
#13 Balancer ($1M)
#26 Sushiswap ($2M)
#1 Moonswap ($0.8M)
Conclusion
Amp is a digital collateral token that will bring great value and liquidity to the Bancor network. With Bancor’s impermanent loss protection and ability to provide single-sided liquidity, Amp users would be more incentivized to provide liquidity and benefit the Bancor network platform. The team hopes to continue expanding the use cases for Amp, including having it whitelisted on Bancor.
References
[1] Gemini Pay, https ://www.gemini.com/pay ; SPEDN, https ://spedn.io/ ; Flexa Capacity, https ://app.flexa.network
[2] Consenys, https ://consensys.net ; Flexa homepage, http ://flexa.network ; TVL, https ://www.defipulse.com/flexa ; Flexa staking contract, https ://app.flexa.network ; Amp whitepaper (collateral partition strategy), https ://amptoken.org/whitepaper.pdf ; FXC migration to Amp announcement, https ://flexacoin.org/
[3] Flexa Discord - includes Amp channel - (official), https ://discord.gg/T4EY6yx ; Flexa Twitter, https ://twitter.com/flexahq ; Flexa Blog, https ://medium.com/flexa ; Amp Telegram, https ://t.me/ampchat ; Amp Twitter, https ://twitter.com/amptoken ; Amp Blog, https ://medium.com/amptoken ; Flexa Founders’ LinkedIn, https ://www.linkedin.com/in/tylerspalding/ , https ://www.linkedin.com/in/trevorfilter/ , https ://www.linkedin.com/in/zacharykilgore/