What is Amp?
AMP is an ERC-20 token launched on the Ethereum blockchain. It is a token of the Flexa platform, designed for instant transactions. As collateral, Amp insures the value of any transfer while it remains unconfirmed, a process that can take anywhere from a couple of seconds to several hours or days. AMP tokens used as collateral are usually released when consensus is reached on a particular transfer, making them available to secure another transfer. If consensus on a transmission is not reached, the AMP pledge can be liquidated to cover losses.
Amp is described as a new digital token that offers instant verifiable guarantees for any type of value transfer. Using Amp, networks like Flexa can quickly and irreversibly protect transactions for a wide range of asset-related use cases.