After checking my Coinbase account today on my phone, I realized that they just listed a new token: AMP

I like to keep an eye out for new Coinbase listings as they often have little lessons that you can watch and earn $3-$5 of the token as a reward; this was the case for AMP!

What is AMP?

Amp is described as the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases. - CoinMarketCap

So this token essentially a fail-safe for BTC or ETH payments that end up not getting confirmed where the sender is repaid in AMP collateral and the promised reciever gets paid out in collateralized fiat.

How Does It Work?

Amp claims to offer a straightforward but versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. Where collateral partitions can be designated to collateralize any account, application, or even transaction, and carry balances which are directly verifiable on the Ethereum blockchain, collateral managers are smart contracts that can lock, release, and redirect collateral in these partitions as needed in order to support value transfer activities. Amp supports a wide variety of use cases for collateralization, and also introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address. - CoinMarketCap

So there are smart contract-run pools that serve as accessible collateral for failed transactions. There are a few more technical references in here, but the important takeaways are that this token is providing a layer of security to crypto transactions that have been keeping a lot of players out of the game due to fear. AMP is innovation to create a more accessible and trustless cryptocurrency ecosystem.

Tokenomics

The tokens are available on many different DEX's such as Uniswap as well as centralized exchanges like the aforementioned Coinbase. I don't know what the token value will be like in the future, but the use case is definitely there with failed transactions being a real possibility on decentralized networks like BTC or ETH.

Give it a look for yourself and decide what you think!

NFA

@mariosfame gif once again, I love it:

@Daltono made the thumbnail image for this post, it is excellent and @dunksocial thanks him!

@gr33nm4ster made this awesome gif I needed to share, we thank him as well!:

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