“Pay with Flexa” button launched; Amp-powered payments at Sheetz; Flexa goes carbon-negative
The Amp Community Digest for Friday, May 28, 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…
Flexa debuted Amp-powered online payments
On Wednesday, Flexa debuted instant online payments and the new “Pay with Flexa” button. This capability enables any merchant to easily accept digital currency online, instantly and with zero fraud. To try this new payments experience for yourself, download the new SPEDN app (iOS, Android), and head over to the SPEDN Shop, where—for a limited time—everything is on sale for just $1!
Celo and Celo Dollar payments now supported by Flexa
Also on Wednesday, Flexa enabled spending support for Celo native asset (CELO) and Celo Dollar (cUSD). Additionally, the Valora app—a wallet built for the Celo community—was awarded the inaugural Flexa Developer Grant to integrate Flexa’s Spend SDK. Amp holders will be able to stake the Valora wallet on Flexa Capacity in advance to ensure equal and adequate opportunities for collateralization participation. If you would like to preview the latest version of the Spend SDK, check out the new SPEDN app, and then get ready for even more wallets to be announced soon. More wallets → more spending → more staking opportunities!
Flexa is now carbon-neutral
Flexa is officially the first payments network to become not only carbon-neutral, but also carbon-negative. In partnership with Canopi, Flexa has offset the carbon emissions of all activities—including Amp collateralization for every payment ever processed—by funding a considerable selection of carbon removal solutions, such as reforestation, improved forest management and crop production. Further, Flexa pledged a target of net-zero emissions by 2025, and announced the Clean Crypto Initiative in partnership with Canopi to help develop better solutions for tracking, offsetting, and ultimately reducing the environmental impact of the blockchain.
Flexa, Ampleforth, and Transparent at the Pantera Blockchain Summit
Last week, Flexa CEO Tyler Spalding sat down with Ampleforth’s Evan Kuo and Transparent’s Alex Fowler at the 2021 Pantera Blockchain Summit. Hosted by Paul Veradittakit, the conversation focused on transformational innovations in money and payments, and the increasing importance of digital currencies to global commerce. Tyler took time to discuss Amp’s role within the Flexa network, describing the token as “the most critical component” of how Flexa works.
Metrics update
Current TVL of Flexa Capacity — $948.7 million
Earn rewards for staking your Amp on the Flexa network toward the apps below:
Did you know?
Flexa is featured on ImmuneFi’s Seclist, a resource for anyone to learn about available bug bounties and audits for DeFi projects.
DeFi and payments news
Sheetz partnered with Flexa and NCR to become the first convenience store chain and fuel retailer to accept digital currency. Amp-collateralized payments in any Flexa-supported currency will be going live at select Sheetz locations later this summer, with a full rollout to follow later this year.
Citcon, a mobile payment gateway for over 6,000 brands worldwide, announced a partnership with Flexa last week. The continued progress in the acceptance of digital currency payments helps expand the Amp and Flexa ecosystems.
The United States Federal Reserve System has expressed continued interest in exploring the issuing of a US central bank digital currency (CBDC). According to a press release issued last Thursday, the Fed confirmed they will be publishing a discussion paper on the topic later this summer. This announcement comes on the heels of the FDIC’s May 17 request for public feedback concerning depository institutions holding digital assets. The release and adoption of central bank digital currencies seems like a matter of when—not if. Given global competition and Amp’s ability to collateralize any asset, CBDCs are a positive development for the space.
Bank of America has joined the Paxos Settlement Service, a platform for same-day settlement of stock trades via blockchain technology—a clear sign that large financial institutions are beginning to appreciate the necessity of instant settlement and distributed ledger technologies.
From the community
Twitter user @bubby_io held a 5,000 AMP giveaway last Tuesday, ahead of Flexa’s presentation at Consensus. Congratulations to the winner, @wavesofwhit!
Crypto spending and Amp evangelist @JohnKimLTC shared a video of his new Amp swag reveal. Can’t wait to see him put those stickers to use!