From December 14th, we officially list Amp Token (AMP) on the ONUS application. Soon after AMP is added, users can perform the following features:
- Off-chain transactions: Send and receive AMP with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to AMP and vice versa.
Amp is a new digital collateral token that provides instant, verifiable guarantees for any type of value transfer. One of the primary disadvantages of cryptocurrency has always been the lag time between payment transmission and transaction processing. Amp resolves this by allocating collateral in the form of its token. If a payment is declined, the merchant will be compensated with Amp. This is a novel concept in the cryptocurrency space that should pique investors’ interest.
When Amp is used as collateral, value transfers are guaranteed and can occur instantly. Amp is held in escrow by a collateral manager while the underlying asset reaches final settlement, a process that can take seconds to days. Once the transaction has been successfully settled, the Amp collateral is released and made available for use in collateralizing subsequent transfers. Amp exists to act as universal collateral for any individual or project.
What is AMP Token?
AMP is a native token operating on Ethereum according to ERC20 standard, and can be used to:
- Provide the sellers with collateral to unconfirmed cryptocurrency payments
- Stake to increase the capacity of the Flexa payment network and receive staking rewards
- Vote on governance proposals
- Name: Amp Token
- Symbol: AMP
- Platform: Ethereum
- Standard: ERC20
- Type: Utility, Governance
- Smart Contract Address: 0xff20817765cb7f73d4bde2e66e067e58d11095c2