*obligatory not financial advice*
What is Flexa?
Cryptocurrencies have many advantages over fiat money, they don't depend on any one entity that has control over them for example, but they do have disadvantages. For example, a transaction can need several minutes to be completed and even longer to be really safe and absolute. This makes crypto nearly unusable at stores because nobody want to just wait half an hour for your Bitcoin transaction to completely confirmed.
Another problem is that their value can be very volatile, which means that merchants cannot collect and hold cryptocurrency before they convert it into fiat that they need to pay for their expanses. This are issues for the entire crypto market because for them to become mainstream they need to be convenient to use for both merchants and customers. Flexa tries to solve such problems for multiple cryptocurrencies.
Flexa has an app called SPEDN that makes it easy to spend various coins like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, ZCash, Dogecoin and many more. When you make a payment with Flexa, it will automatically and instantly convert your crypto into fiat and sends that to the merchant. This process is actually cheaper than a credit card transaction. The advantage of using Flexa instead of the cryptocurrencies directly is that they are instant and the merchant doesn't take any risk by holding crypto because he is receiving fiat. Another thing that makes it easy for merchants to accept crypto payments is that they don't need any special hardware or software for Flexa, they can accept payments with any normal physical point of sale terminal.
The AMP Token
The Flexa network originally had a token called Flexacoin, but to avoid that their token would be treated like a stock they rebranded it into AMP. It is a utility token that is being used as temporally collateral for payments done with Flexa. See, cryptocurrencies can be very volatile, their value could drop massively during the process of converting them into fiat or there could be some other issue when sending your coins, to avoid that merchants don't get their payment or that customers have to suddenly spent more Bitcoin then they expected there must be some kind of collateral that can used if the price changes.
AMP holders can stake their tokens into collateral pools and earn the fees that Flexa users have to pay and new AMP tokens. The more transactions are being made with Flexa, the more fees can be earned. It has a circulating supply of 42.227.702.186 AMP coins and a max supply of 92.547.638.199 AMP coins.
The value of the token depends on how well Flexa does, if many people use it, there will be more fees that can be earned and there will be more demand for AMP, since the supply has a max limit its value would rise. There is a yearly inflation of 1 billion tokens until the max supply is reached, but if you use your AMP to provide collateral you will receive this new tokens.
Cryptocurrencies are on the rise and Flexa makes it a lot easier for stores to accept them so the payment network could have a lot of adoption in the next few years.
