Amp: the new digital collateral token use applications on the Ethereum mainnet
After months of research, development, and testing, Amp is finally here.
Built through close collaboration and partnership between Flexa and ConsenSys, Amp is a new staking platform designed to support the instant and verifiable collateralization of any type of value transfer—whether fast or slow, digital or physical, like-kind or multi-asset.
Amp’s universal extensibility and ERC20-compliant framework introduce new opportunities to improve the speed and security of asset transactions across a vast set of financial use cases, including payments, exchange, lending, remittance, and more. The Amp smart contracts have been thoroughly audited by leading security research firms ConsenSys Diligence and Trail of Bits. And because Amp is open source, its code is freely available to be integrated and extended by any third-party platform or app.
“The new Amp token demonstrates Flexa’s unrelenting commitment to DeFi and to building new technologies that will democratize access to payments for people all over the world,” said Tyler Spalding, CEO of Flexa. “Our team has been developing Amp and its capabilities for the better half of a year, and the collateral partitions and managers at the core of the new standard implement Ethereum-based technologies that have never been deployed at this scale.”
Starting today, Flexa will begin using Amp as the primary collateral for securing all transactions on its pure-digital payments network. Flexa has also contributed the first collateral manager contract to the Amp protocol (the source available on Github). Flexa and ConsenSys expect other developers to build on the Amp platform later this year.
The first market to announce support for the new Amp token is Gemini. Founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto, Gemini is regarded as one of the world’s most secure and compliant digital asset exchanges. Gemini has worked closely with the New York State Department of Financial Services to obtain approval to offer trading and custody services for Amp. It will share more details regarding the availability of Amp on the Gemini exchange soon.
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