Source: AMPUSD Chart by TradingView
Amp is a decentralized collateral token, built on Ethereum, that enables instant transactions with digital assets. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.
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.
Binance.US to delist Flexa’s AMP after SEC security classification
SEC Chairman Gary Gensler urged crypto exchanges to operate according to securities law, as they can't be treated differently because of their technology.
Q2 2022 Web3 Security Report: 48 Major Exploits, $718.34M Lost | Beosin & Footprint Analytics
Total losses in Q2 reach $718.34 million, down approximately 40 percent from $1.2 billion in Q1
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