Amp on Flux; double rewards on SushiSwap Onsen; Bancor proposal passes; Chainlink Smart Contract Summit keynote
The Amp Community Digest for Friday, August 13, 2021
The past two weeks have been busy for Amp and its community—Amp went live on Flux and Sushiswap’s Onsen, Bancor passed a new proposal for the AMP–BNT pool, and Flexa’s Tyler Spalding gave a keynote at Chainlink’s smart contract summit. For new community members, check out previous issues on Substack and subscribe to stay up to date. For additional, more frequent updates, make sure to join the Amp community on Discord and Twitter.
In case you missed it…
Earn SUSHI and AMP at the same time
This week, Sushi added Amp to the Onsen Double Rewards UI, so users can continue to provide liquidity and stake LP tokens in order to earn both SUSHI and AMP rewards.
Amp lending and borrowing available on Flux
Amp is now available as collateral on Flux, a lending platform built on Conflux. To date, over 5 million cAMP (AMP on Conflux) have been deposited on the platform. Conflux is a public, permissionless blockchain based in China, and as the primary lending platform on the chain, Flux will help expand awareness of Amp to new audiences.
Bancor proposal passes
A proposal to increase the co-investment limit for the AMP–BMT pool has passed resoundingly on Bancor, with over 98% of voters in favor. Special thanks to Amp community members Ezric and Lumi for their AMAs to rally the Bancor and Amp communities ahead of the vote.
Keynote at Smart Contract Summit
Last week, Flexa CEO Tyler Spalding delivered a keynote presentation at the Chainlink Smart Contract Summit #1. Tyler compared and contrasted the strengths and weaknesses of decentralized and centralized systems and emphasized how a hybrid approach, like Flexa, can provide the “best of both worlds” for payments.
Current TVL of Flexa Capacity — $1.37 billion
Earn rewards for staking your Amp on the Flexa network toward the apps below:
DeFi and payments news
Fed Governor supports stablecoins over CBDCs
Last week, Federal Reserve Governor Christopher Waller made the case that stablecoins, not CBDCs, may prove to be the more useful payment alternative. He highlights that they may be cheaper for users, stating, “It seems to me that private sector innovations might reduce the mark-up charged by banks more effectively than a CBDC would. If commercial banks are earning rents from their market power, then there is a profit opportunity for non-banks to enter the payment business and provide the general public with cheaper payment services.”
Uruguay seeks to regulate digital assets
An Uruguayan senator has introduced a bill that creates a framework for Uruguay incorporate cryptocurrency into its financial system and would allow citizens to be paid their salaries in digital assets. “Cryptocurrencies are an opportunity to create investment and work,” tweeted senator Juan Sartori. “Today we present a bill, pioneer in the world, that seeks to establish a legitimate, legal and safe use in business relation to the production and commercialization of virtual currencies in Uruguay.”
CBDCs can keep humanitarian aid from falling into the wrong hands
Orbs co-founder Netta Korin recently published an opinion stating that central bank digital currencies will offer more transparency and control to donors providing humanitarian aid, which will in turn help funds from being intercepted and misused by nefarious parties. The piece follows an announcement from the Bank of Israel stating that the potential introduction of digital shekel could help donor countries looking to track aid funds into the region.
From the community
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