AMP is an Ethereum token that offers instant and secure access to credit facilities, collateral tokens and other cryptocurrencies through a global lending network. Amp investors are entitled to all the benefits of traditional lenders without any legal restrictions or special knowledge that is required to use them.
Amp aims to collateralise payments on the Flexa network, when BTC and ETH payments fail by covering losses through liquidation, providing assurance to both parties.
Amp offers verifiable collateralisation through a system of trustless smart contracts that are open source, transparent and secured by the Ethereum blockchain. The Amp system enables users to have access to credit facilities without having to surrender control of their assets.
Amp's take advantage of an ERC-20 protocol that allows them to be used as collateral for loans in any traditional lending platform.
The AMP token was created in 2020 and was built on the Ethereum blockchain. There is a circulating supply of 42,227,702,186 AMP coins and a max. supply of 92,547,638,199 AMP coins according to CoinMarketCap.
Amp supports a variety of use cases for collateralisation, and introduces the concept of predefined partition strategies, which enables special capabilities for different types of loans. AMPs are value tokens on the Ethereum blockchain, which means their utility lies in offering a suite of features that traditional cryptocurrency lacks.
Users can either choose to lock away their AMP for an interest rate or loan it out while retaining control of them via smart contract.
For more about AMP, check out their website.