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Amp is the evolution of Flexacoin ($FXC). Amp is a digital collateral token designed to facilitate fast and efficient value transfer, especially for use cases that prioritize security and irreversibility.
As collateral, Amp insures the value of any transfer while it remains unconfirmed—a process which can take anywhere from seconds to hours to days. Amp tokens used as collateral are generally released when consensus for a particular transfer is achieved, making them available to collateralize another transfer. In the event that consensus is not achieved for the transfer, the Amp collateral can instead be liquidated to cover losses.
Flexa uses Amp to secure transactions and build networks that accrue value both securely and transparently.
At the core of the Amp collateral model is the concept of the collateral partition. Collateral partitions represent subsets of Amp tokens that provide collateral for particular purposes, and are distinguished on the Ethereum blockchain with unique partition addresses. Each collateral partition can be endowed with its own set of rules regarding transfer hooks and privileges, and can also implement a predefined partition strategy in order to enable special capabilities (e.g., collateral models in which tokens are staked without ever leaving their original address).
On Tuesday, September 8, 2020, Flexacoin ($FXC) became available to migrate to Amp ($AMP). See the official announcement.
Try our free Amp (AMP) portfolio tracker if you want to efficiently keep track of your AMP and other coin/token investments.