The new paradigm for fast, fraud-proof and touch-free payments
Fraud and high fees in payments today are major problems for merchants.
Now, merchants can easily integrate Flexa using their current payments infrastructure. It allows them to reduce costs and frauds while enabling their customers to pay using crypto assets. Merchants can receive settlements in any fiat currency.
Spend on any wallet, with any crypto asset to any merchant.
Any wallet can build using the Flexa kit, allowing their users to spend cryptos at 30 000 retail locations in the United States. It’s already live on the Gemini wallet; more wallets such as Dharma, ZenGo and others are coming soon.
Flexa capacity using the AMP token
To mitigate the risk of theft or loss during settlement, a network of counter parties supply a collateral for every Flexa payment. In the event of a software glitch or breach, this collateral is instantly liquidated in order to guarantee that no Flexa merchant ever experiences lost volume.
Anyone can stake AMP on the Flexa capacity to be a counter party for the wallet of its choice and earn network fees. In 2020 / 2021, stakers also earn 5.75 % APY in AMP; it’s an incentive made by Flexa to encourage staking. With a total supply of 100B, 20% is currently used as a collateral to secure the network. About 76 % of the circulating supply is staked.
Flexa initially raised $14.1 million from VCs, selling the FXC token (later on “rebranded” / swapped to AMP for technological matters). AMP is currently trading at $0,0065, so a market capitalization of $170 million.
Growth potential
The price of AMP is tied to the growth of the protocol as stakers are rewarded with fees. Also, a higher AMP price allows a bigger spending capacity.
With more wallets and merchants adopting the protocol, it can create a strong network effect. I think that crypto wallets like Dharma integrating protocols like Uniswap and Flexa could be the killer apps for cryptos.
Other catalysts include:
- Markets expansion
- Online payments launch
- Start of network fees distribution
