Acting as a collateral token to decentralised risk in digital asset transactions, AMP reduces counterparty costs by reducing the amount of processing time that is typical with payment transactions. Hosted on the Solana network, AMP tokens can serve as collateral conditionally without the need to transfer tokens to another smart contract. The protocol can accomplish this type of collateral functionality through the use of partitions. Additionally, if Bitcoin or Ethereum payments do not go through because of long transaction wait times or unconfirmed transactions, the AMP token is used as collateral that can be liquidated.
AMP was created by Flexa and still serves as the collateral choice of the Flexa app. Over 40,000 retailers across Canada and the United States of America use Flexa as a mechanism for digital asset payment. For those vendors, AMP offers the ease of mind that they don’t have to be delayed waiting for a digital asset transaction to validate before moving on to the next client. Furthermore, holding AMP results in an interest rate of 2% per year.
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