Flexa is working hard to make it easier for people to spend digital assets all over the world. Both sides of its wallet-merchant network are growing quickly. To make blockchain transactions more efficient for both payments and real-time Amp reward payouts, Flexa is working on a new Spend SDK.
The good news is that L2 scaling efforts have increased, but so has progress on the ETH 2.0 foundation layer. For example, Loopring has been using zkRollups on Ethereum for the last year to speed up transactions. StarkEx Deversifi already supports zkRollups (on-chain) and Validium (off-chain) data.
Matter Labs’ zkSync has kept moving toward general contract support and a lot of decentralization using DPoS parallel computation. A company called Aztec is the first to use zk2Rollups. They want to keep their data on the blockchain and keep it private at all times. And IDEX 2.0 was just released, with AMP-ETH trading available at launch. It uses an open-source Optimized Optimistic Rollup (O2) design that keeps on-chain data available while allowing 100,000+ trades per second at low millisecond latency.
Composability is still at the top of these discussions. Flexa wants to make money easy, whether new standards develop or many sidechains are integrated with other L1 choices. We will assist long-term network partners in scalability solutions for billions of wallets worldwide. Among the benefits of these solutions is the protection of user privacy, both for consumers and enterprises.
AMP to Loopring
To start moving Amp to the next level, you can now transfer Amp directly to the Loopring DEX and send it gas-free to any registered address. There are no fees for all platform trades (using zkSNARKs). Over the next 30 days, 2,000,000 AMP will be given out as liquidity mining incentives through the AMP/USDT pair. We think that this project is especially good for traders and market makers who don’t have a lot of time to trade. If you want more information about how to get involved, check out the Loopring blog and this Alpha DeFi post. You can also check out the live dashboard to see how you stack up.
Loopring 3.6 will support AMMs on zkRollup circuits and allow users to pay to any Ethereum address. The Loopring mobile wallet will have a release this month, and Flexa pleases to pay for LRC and other Ethereum-based assets instantly in stores.
The path to trustless methods for distributing Amp rewards and providing liquidity is becoming more and more clear. We hope to one day be able to run the entire Amp ecosystem in a completely decentralized way. To this end, Flexa is going to start giving more money to people who invest in projects in the DeFi ecosystem.
Amp, being a collateral token, requires high liquidity and minimal volatility to spend more on the network. We believe that partnering with innovative companies like Loopring will increase adoption of the protocol for applications like Flexa.
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