More Amp integrations on C.R.E.A.M., SushiSwap; new all-time high TVL for Flexa Capacity
The Amp Community Digest for Friday, April 30, 2021
Welcome to another issue of the Amp Community Digest! Catch up with previous issues on Substack (and subscribe to make sure you don’t miss anything). For more frequent updates, make sure to join the Amp community on Discord and Twitter.
In case you missed it…
New Amp integrations in the Yearn Ecosystem
This week, Amp was included in products from two of the Yearn Ecosystem’s biggest platforms: C.R.E.A.M. Finance and SushiSwap. On C.R.E.A.M., Amp is now enabled as collateral for loans up to 45% of value supplied. Amp is also participating in SushiSwap’s Onsen liquidity mining program for earning SUSHI rewards: as a special bonus, AMP–ETH liquidity providers can earn bonus AMP in addition to the standard SUSHI rewards! And don’t miss the upcoming Onsen AMA with community managers Lumi and Infinite Atman next week—stay tuned to Twitter and Discord for details.
More AMP-BNT liquidity available on Bancor
Due to strong demand and interest in Amp on Bancor, a proposal to allow more liquidity in the AMP-BNT pool was passed. Huge thanks to the Amp and Bancor communities for the continued support!
Metrics update
Current TVL of Flexa Capacity — $1.27 billion
The Amp total value locked (TVL) in the Flexa Capacity contract reached a USD all-time high last week, with the ability to provide spending capacity for nearly $1.5 billion worth of payments volume on the Flexa network. Earn rewards for staking your Amp on the Flexa network toward the apps below:
Did you know?
Amp is supported as an asset on Fireblocks, a digital asset custody, transfer, and settlement platform for large institutions.
Amp is available for spot trading on Marginswap, an on-chain spot and margin trading protocol.
Ever since the launch of Zcash on the SPEDN app, ZEC has been depositable from shielded addresses, unlocking real-world spending just like digital cash.
DeFi and payments news
Flexa Co-Founder and VP Engineering, Zachary Kilgore, was featured in Chainlink Today. Their long-form article covers Flexa’s vision for crypto payments, the merchant use case and the importance of the Chainlink integration to the future of the network.
ConsenSys, co-developer of the Amp token contract, recently raised $65M in funding from the likes of J.P. Morgan and Mastercard. In addition to investing in ConsenSys, J.P. Morgan is working with blockchain technology Confirm to reduce the number and cost of rejected money transfers. Confirm verifies a beneficiary’s information in real time before initiating a wire transfer, solving the leading cause of rejected money transfers (incorrect beneficiary details).
After PayPal added support for buying and selling cryptocurrencies, it should come as no surprise that PayPal-owned Venmo has followed suit. Venmo users can now buy or sell cryptocurrency within the Venmo app as well as access informational guides on the crypto space—an important way of educating broader audiences on the important role that digital currencies will play in the future of money.
And finally, Mastercard and Gemini have partnered up on Gemini’s new “crypto rewards” credit card, which offers rewards of up to 3% in crypto for purchases.
From the community
Congratulations to all the winners of @InfiniteAtman’s meme contest! The Amp community saw some creative submissions!
Reddit user u/coolstorynerd started a discussion thread on how to think about other competitors in the crypto payments space and determine their respective value propositions.
Where did the name “Amp” come from in the first place? Congrats to the winner of @bubby_io’s random Amp giveaway for knowing the answer!