Amp is a staking platform designed to support the immediate collateralisation of any type of value transfer using the AMP token. Developed by Flexa – a payments services company – in close partnership with ConsenSys, AMP is an ERC-20 digital collateral token that enables the settlement of payment transactions. Flexa uses AMP to provide instant and fraud-free payments to merchants, with applications and communities staking the token on behalf of users to ensure all payments can be settled in real-time.

Flexa insures merchants against loss, allowing them to accept instant cryptocurrency transactions without the usual wait times. Investors purchase AMP and stake it, with the staked tokens acting as collateral against a loss. If a merchant doesn’t receive the cryptocurrency they were supposed to, the appropriate amount of staked AMP is liquidated to cover the costs. Additional AMP is bought on the open market using merchant transaction fees and is redistributed as a reward for those that supply collateral to the protocol. AMP has a total supply of 100 billion tokens, although tens of billions of AMP are locked into the Flexa Capacity decentralised app (dApp) for use in staking and collateral.

The Flexa network operates a merchant-focused app, has point-of-sale (POS) hardware compatibility, and is designed to reduce cost, settlement times, and fraud. As of June 2022, over 41,000 retail locations across the United States and Canada use Flexa to facilitate digital payments. Users can connect their wallet to Flexa to make quick and easy payments with any ERC-20 token.

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