Defining The Flexa Network and AMP Token:

The Flexa Network: a payment system that can be integrated into merchant existing payment rails.

• Currently supports multiple cryptocurrency payment options including BTC, ETH, BCH, LTC, DOGE, DAI, BAT, LINK, OXT, ZEC, GUSD.
• Merchants choose to receive money in currency of their choice (fiat or crypto).
  • A collateral token (AMP Token) allows for payments to be received instantly by merchants, regardless of speed of settlement for the transaction on the cryptocurrency blockchain.
• Primary wallets: Gemini Pay and SPEDN App (with more coming).

AMP Token: the collateral token that powers the Flexa Network by guaranteeing payment to the merchant.

• AMP Token is staked to Flexa Network Capacity. This provides liquidity for collateralization of payments thereby guaranteeing payment to the merchant. The best way to explain how this works is by example:
  • A consumer purchases a cup of coffee at Dunkin' using BTC via the Flexa Network. Dunkin' receives payment instantly, even though the BTC transaction takes time to settle on the BTC network. In the event the BTC transaction somehow fails to be processed, AMP Token is liquidated from the staking pool ensuring that the merchant is paid in full. The staking pool decentralizes the risk of fraudulent / failed transactions. A transaction has yet to fail on the Flexa Network and thus, no AMP has ever been liquidated at this point.

Staking, Staking Rewards, and Flexa Network Fees:

Staking:

• Staking AMP on the Flexa Network provides collateral that guarantees payments to merchants. The decentralized pool of collateral decentralizes the risk of failed payments among all stakers. If a transaction fails to be processed, then AMP is liquidated from the collateral pool to pay the merchant.
• While a transaction has never failed so far (and thus AMP has never been liquidated from the collateral pool), there is a sense of inherent risk to staking your AMP. As such, stakers are rewarded with AMP tokens for taking on this risk.

Staking Rewards and Flexa Network Fees:

• Since Flexa's launch in the Fall of 2020, merchants are not being charged fees. I see this as Flexa's "adoption" stage / strategy of securing partnerships and gaining traction in the payments market. Fees are supposed to be activated at the end of June.
• Since no fees are currently being charged, AMP stakers are incentivized via a Rewards system
  • 2.5 million AMP are unlocked daily and distributed to stakers.
• When fees are activated, the reward system will cease. Flexa charges fees of ~1.0% or less.
  • VISA = 1.4% - 2.4%
  • MasterCard = 1.6% - 2.6%
  • Discover = 1.6% - 2.3%
  • American Express = 2.5% - 3.5%
• Fees charged to merchants are essentially revenue generated by the Flexa Network. This revenue is used to purchase AMP on the open-market. The purchased AMP on the open-market is then distributed to stakers as reward for providing the collateral necessary for the Flexa Network to function.

How to stake AMP on the Flexa Network: https://www.reddit.com/r/AMPToken/comments/n79l3v/how_to_stake_your_amp_on_the_flexa_network/

Tokenomics:

AMP Token Supply:

• Circulating: 42.27 billion (https://amptoken.org/metrics/circulating-supply/)
• Max Supply: 100 billion
  • Maximum supply will be reached in 2045. Approximate amounts of AMP Token in circulation:
    • 51.2 billion by 2025
    • 60.7 billion by 2030
    • 67.5 billion by 2035
    • 78.0 billion by 2040
    • 100.0 billion by 2045
• As explained above, AMP's price is directly related to Flexa adoption and usage. The more usage of the Flexa Network, the more fees Flexa charges, and thus the more AMP is purchased off the open-market which supports AMP price appreciation.

Flexa Network Team:

Tyler Spalding:

• CEO & Co-founder
• Previous Experience:
  • Tyler has founded and invested in various blockchain projects since 2011.
  • CTO at Raise, a mobile application which allows consumers to earn rewards on in-store and online purchases.
  • Engineering Lead with the United Space Alliance, US Air Force, and NASA’s Space Shuttle Program.

Trevor Filter:

• Head of Product & Co-founder
• Previous Experience:
  • Trevor began his career at the MIT Media Lab and has been designing award-winning customer-centric experiences for 10+ years
  • Senior Product manager at American Express
  • Head of Product & Design at Raise
  • Co-Founder and Head of Product at Slide, a mobile payments app where customers can earn rewards online or in store through contactless checkout

Zachary Kilgore:

• CTO & Co-founder
• Previous Experience:
  • Zach has 8+ years of experience engineering front- end and backend software platforms and infrastructure for payments and mobile
  • Engineer Manager at Raise
  • Director of Software Engineering at Slide
  • Front-End engineer at Warby Parker
  • Holds a Bachelors in Computer Engineering from Duke University

Daniel McCabe:

• General Counsel, CCO, & Co-founder
• Previous Experience:
  • Daniel has 20+ years of business law experience across technology, blockchain, finance, and more
  • Partner at Greensfelder, Hemker & Gale, P.C.
  • Managing Partner at McCabeMiller LLC
  • Executive Vice President & General Counsel at Vanquish Capital Management
  • Holds a JD from the Chicago Kent College of Law

Ryan Records:

• VP of Partnerships
• Previous Experience:
  • Ryan spent 18 years at Starbucks
    • 2012 - 2017, Vice President of Global Starbucks Card and Payment Strategy
    • 2008 - 2012, Director of Global Strategy

Please comment any additional information that is helpful for all of our new members! Reminder this not a pump and dump crypto, but a long-term project with an amazing management team leading the way. Give this post a thumbs up so all newcomers can easily learn about AMP and Flexa!