List AMP as Collateral Asset

Summary

Amp is a collateral token used on the Flexa network (flexa .network). The token is staked by the community in the Flexa Capacity contract (app.flexa .network) to wallet projects in order to secure digital payments at merchants. There are currently two projects ([Gemini Pay](www.gemini .com/pay) and [SPEDN](spedn .io/)) that have integrated the Flexa SDK to enable real-world spending at merchants like Nordstrom, Lowes, Gamestop, Petco, and Baskin Robbins.

Flexa is ranked #14 on DeFi Pulse with $180M locked, and #1, with 90% dominance in Payments (www.defipulse .com/flexa).

*Note, Amp was formerly Flexacoin (FXC) but there was a 1:1 swap of the tokens in Sep 2020 due to an upgrade.

For: List AMP as collateral asset on CREAM

Against: Do nothing

Metrics for AMP token and Flexa Capacity (as of 01/06/2021)

Max total supply: 100B

Circulating supply: 34.8B

Total value locked: $180M

AMP trading volume: $1M (e.g,. Gemini, Bittrex, Poloniex); [Uniswap](info.uniswap .org/pair/0x08650bb9dc722c9c8c62e79c2bafa2d3fc5b3293) liquidity: $1.2M

Technical resources

AMP whitepaper: amptoken .org/whitepaper.pdf

AMP token on [Etherscan](etherscan .io/token/0xff20817765cb7f73d4bde2e66e067e58d11095c2#balances)

Flexa staking contract address: [0x706d7f8b3445d8dfc790c524e3990ef014e7c578](etherscan .io/token/0xff20817765cb7f73d4bde2e66e067e58d11095c2?a=0x706d7f8b3445d8dfc790c524e3990ef014e7c578)

Flexa staking contract website: app.flexa .network/

Flexa whitepaper: flexa .network/whitepaper.pdf

AMP Audits

Consensys Diligence (June 2020): consensys .net/diligence/audits/2020/06/amp/

Trail of Bits (August 2020): github .com/trailofbits/publications/blob/master/reviews/amp.pdf

Flexa/AMP Article features

[CBS News: Global payments network Flexa launches to accept cryptocurrency payments](www.cbsnews .com/news/who-accepts-cryptocurrency-whole-foods-bed-bath-beyond-and-ulta-among-retailers-accepting-cryptocurrency/)

[Forbes: Customers Can Spend Bitcoin At Starbucks, Nordstrom And Whole Foods](www.forbes .com/sites/michaeldelcastillo/2019/05/13/starbucks-nordstrom-and-whole-foods-now-accept-bitcoin-just-dont-ask-them/?sh=2127569e2252)

[Fortune: Bitcoin Comes to Whole Foods, Major Retailers in Coup for Digital Currency](fortune .com/2019/05/13/bitcoin-comes-to-whole-foods-major-retailers-in-coup-for-digital-currency/)

[CNET: Startup Flexa's cryptocurrency payment network get big names](www.cnet .com/news/flexa-cryptocurrency-system-lets-you-buy-coffee-jamba-juice-whole-foods-office-depot/)

[MIT Technology Review: You can now pay with cryptocurrency](www.technologyreview .com/2019/05/14/135388/you-can-now-pay-with-cryptocurrency-at-whole-foods/)

[NASDAQ: Flexa Enables BTC Payments at Popular Brick-and-Mortar Stores](www.nasdaq .com/articles/flexa-enables-btc-payments-popular-brick-and-mortar-stores-2019-05-13)

[Coindesk: Crypto “Stripe” Flexa Raises $14M](www.coindesk .com/crypto-stripe-flexa-raises-14-million-so-you-can-buy-coffee-with-bitcoin)

[Coindesk: You Can Now ‘Spedn’ Bitcoin at GameStop, Barnes & Noble and More](www.coindesk .com/you-can-now-spedn-bitcoin-at-gamestop-barnes-noble-and-more)

[Coindesk: New Flexa Tech Will Let You Spend Bitcoin From Other Apps Too](www.coindesk .com/new-flexa-tech-will-let-you-spend-bitcoin-from-other-apps-too)

[Coindesk: Mall of America to Showcase Winklevoss-Backed Crypto Payments](www.coindesk .com/mall-of-america-to-showcase-winklevoss-backed-crypto-payments)

[Coindesk: Robot Ventures, Others Back ‘Crypto Stripe’ Flexa in $6M Raise](www.coindesk .com/crypto-payment-app-flexa-raises-6m-unveils-new-backend)

[Fundstrat: Flexa: On a mission to make digital assets universally spendable](fsinsight .com/2020/11/03/crypto-special-report-flexa-on-a-mission-to-make-d/)

[TheBlock: Gemini and Flexa team up to deliver cryptocurrency payments](www.theblockcrypto .com/linked/23145/gemini-and-flexa-team-up-to-deliver-cryptocurrency-payments)

[Cointelegraph: Flexa Launches App Where Shoppers Can Spend Crypto at Major US Retailers](cointelegraph .com/news/flexa-launches-app-where-shoppers-can-spend-crypto-at-15-major-us-retailers)

[Medium: AMP the new digital collateral token](medium .com/amptoken/amp-the-new-digital-collateral-token-524bc568af92)

Social Resources

AMP Website: amptoken .org/

AMP Blog: medium .com/amptoken

AMP Telegram: t .me/ampchat

AMP Twitter: twitter .com/amptoken

Flexa Discord - includes AMP channel - (official): discord .gg/T4EY6yx

Flexa Website: flexa .network/

Flexa Blog: medium .com/flexa

Flexa Twitter: twitter .com/flexahq

=====contents above are drafted by ParkerLouise===== Discussion link: https://forum.cream.finance/t/proposal-add-amp-as-a-collateral-asset/387