Flexa, a crypto payments protocol that works with Consensys, has moved to a new token because of a new product that works with Consensys.
The protocol’s new token, AMP, will replace Flexacoin (FXC). Token holders will use AMP as collateral for apps that use Flexa. Owners of Flexa tokens can transfer them to applications as spending power, allowing businesses to accept cryptocurrency payments. Stakers are rewarded based on their staked tokens. Although comparable to FXC, AMP has a few characteristics that make it more adaptable to future uses. Here’s more on the adjustment.
Until September 30, FXC won’t be used in the Flexa app. At that point, the Flexacoin token contract will be wiped clean by the team. There is a Flexa migration portal that token holders should use before moving their Flexacoins to AMP at a 1:1 exchange rate.
That’s what Coopahtroopa.eth (@Cooopahtroopa on Twitter) said. He is happy that moving from $FXC to $AMP was so easy. These teams should try to make the UX as good as possible.
Flexa (@FlexaHQ) announces the most significant upgrade to Flexa-powered payments since the network’s launch: a new collateral token built with @ConsenSys (on Twitter).
It’s important to note that the September 30 deadline is the last day FXC holders will get proportional network rewards. There is no deadline for exchanging your Flexacoin for AMP, though. So long as the Ethereum blockchain is operational, migrating from FXC to AMP is a good option.
Not now, but before the deadline to collect the most Flexa Network incentives. AMP stake now offers 5.5 percent APY on the most popular pool, SPEDN.
To move your tokens, go to app.flexa.network and connect your wallet that has FXC.
The AMP Token
The AMP token is now the primary collateral token that secures all transactions on the Flexa network. It will now be used for more general purposes to use projects other than Flexa as digital collateral. You can check out the official documentation on the AMP token by going here.
The Flexa team has also announced a strong exchange partnership with the launch of the new AMP token. This is in addition to the Flexa team making technical changes to the platform. The state has approved an exchange in New York called Gemini. It will be the first to support the AMP protocol.
Gemini (@Gemini on Twitter) said that they are excited to trade and store $AMP soon. He calls it amp, a digital token that can be spent at specific stores using FlexaHQ, a payment mechanism based on crypto sold on the Gemini exchange.
I’m pleased Flexa isn’t like the wild west of Uniswap token listings we’ve seen recently.
Twitter or Discord are good places to stay up to date with Flexa. You can follow the project on Twitter or join the conversation.
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