Amp (AMP) is a decentralized finance (DeFi) they built for collaterialization. Collaterialization is the process of using assets as collateral for lending and credit.
They claim Amp can instantly verify assets for lending and other DeFi applications. For example, Amp could verify that a borrower has USD Coin (USDC) in her wallet when approving a loan. Thus, Amp is an extensible platform that collateralizes asset transfers.
They claim Amp can grantee any kind of value exchange. Including fiat currency exchanges, loan distributions and, property sales. Thus Amp can turn any asset or exchange into digital collateral.
Collateral-as-a-Service
Amp’s ultimate goal is to create collateral-as-a-service. They claim Amp tests and audits all collateral. Users can build apps that lock and unlock Amp collateral to secure transfers and collateral.
Amp’s open-source license allows users to build and deploy custom collateral managers that interface with apps. This allows apps to access Amp’s platform and use the collateral. For example, a decentralized trading platform can use Amp to provide liquidity for trades and swaps.
AMP powers the Amp platform. Amp (AMP) is a universal collateral token that guarantees transfers of value. They claim this allows instant settlement. Moreover, collateral managers can hold AMP as escrow for transactions. The collateral manager releases the collateral when the transaction settles. A collateral manager is an escrow manager can build.
The Amp Universal Clearing Token
They claim AMP can serve a universal clearing lender for transfers. Amp can also unlock assets. Thus, they claim Amp can use any digital asset including stablecoins, cryptocurrencies, synthetic assets, NFTs, and Central Bank Digital Currencies (CBDCs) as collateral.
Hence, Amp functions as a clearing house. A clearing house is an exchange that process transactions between different markets. For example, the Shanghai Clearing House supports trades between the derivatives and equities markets and the currency and commodities markets.
They claim any non-custodial ERC-20 (Ethereum Request for Comment) wallet can support Amp (AMP).
This lets users of wallets such as Coinbase Wallet, Argent, the Trust Wallet, and Gnosis Safe, store, trade, and stake AMP directly. Amp transactions can earn staking rewards through the Flexa Network. Flexa is a global network that offers pure digital payments. Amp users can stake FlexaPayments.
Amp supports an impressive ecosystem that includes markets, DeFi apps, and DeFi dashboards and data sources.
Amp Markets include:
- Coinbase (AMP/USD)
- Gemini (AMP/USD)
- Binance (AMP/USDT)
- Binance US (AMP/USD)
- Crypto.com (AMP/USDT)
- KuCoin (AMP/USDT)
- Huobi Global (AMP/USDT)
Amp DeFi Apps include:
- Balancer (DEX)
- Chainlink (assets)
- Conflux (payments)
- Dodo (DEX)
- Flux (lending)
- Impermax (lending)
- Krystal (DEX)
- Lightning Network (payments)
- Loopring (payments)
- Moonswap (DEX)
- Nexus Mutual (derivatives)
- Sushiswap (DEX)
- Sushiswap Kashi (lending)
- Uniswap (DEX)
- zkSync (payments)
Amp DeFi dashboards include:
- Debank
- Zapper
- Zerion
Amp Data Sources include:
- Chainlink
- Coinbase
- CoinGecko
- CoinMarketCap DeFi Pulse
- DeFi Llama
- Etherscan
- LiveCoinWatch
- Messari
They claim Amp can use many popular cryptocurrencies as collateral. Those cryptocurrencies include:
- DASH (DASH)
- Loopring (LRC)
- Link (LINK)
- Gemini USD (GUSD)
- Litecoin (LTC)
- USD Coin (USDC)
What Value Does Amp (AMP) Offer?
Mr. Market thinks Amp (AMP) offers some value. For example, it was CoinMarketCap’s 11th most trending cryptocurrency on 16 July 2023.
Conversely, Amp (AMP) was the 263rd largest cryptocurrency, with an $87.133 million Market Capitalization, a $205.169 million Fully Diluted Market Cap, and a $4.510 million 24-Hour Market Volume on 17 July 2023. They base those numbers on 20.63₵ Coin Price, a 42.228 million AMP Circulating Supply, a 99.213 million Total Supply, and a 99.444 million Maximum Supply.
I think Amp (AMP) offers some value because it works with a wide variety of tokens, cryptocurrencies, and markets. Hence, Amp is a cryptocurrency and DeFi protocol that could make money from collateral.
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