What are /r/AMPToken's favorite Products & Services?

From 3.5 billion Reddit comments

100% yes it's been confirmed by Flexa. "And today we’re proud to share that the Valora app (a global mobile payments app built on the Celo blockchain) will be one of the first apps to launch with built-in Flexa spending support by way of the Spend SDK."

Source here:

Things Flexa delivered on: 1. Spedn online payments. 2. Celo Dollar/Valora integration. 3. stores, restaurants @ the gas pump. 4. Partnership w/NCR is stronger than ever.

Again Flexa is doing great creating something out of nothing. They are literally building something new from the ground up.

• BRD - Another wallet.
• Coinlist - Another exchange.
• Coinme - Buy Bitcoin at those Coinstar coin sorters. Interesting.
• Dharma - Eth wallet that connects to your bank.
• Shapeshift - Digital asset exchange.
• Valora - mobile payments/remittance/transfer app built on the Celo (crypto payments) platform. AMP competition?
• Zengo - Another wallet.

Regarding #1 If you don't like SPEDN, give Gemini Pay a try. I have both, and I use both regularly, but one advantage with Gemini Pay is that you can deposit and withdraw crypto.

Regarding #2 While in the U.S., the Flexa Code is the primary option, outside of the U.S. you can scan a QR code. I believe this will also be the way internet purchases will work. I've personally used FLEXA over 100 times and I do not think I have had to ask all that many cashiers to scan as a gift code. This morning when I got my cup of Dunkin', all I did was show my Flexa Code, and the cashier pulled the scanner and scanned. No words or instructions necessary.

Regarding #3 I am not really sure I understand your issue here. You do not want to spend DOGE. Fine, use Gemini Dollars, or Celo, or LTC, or BTC. Whatever your want. But if you buy something for $2.49 with Flexa, this means the merchant will receive $2.49 from a bank, minus the 0.5 % transaction fee. This is much better from the merchants point of view in comparison to a credit card payment, $2.49 - 4%. In the first case, with Flexa, if enough people use it, it will allow merchants to lower their prices. This second case, with a CC, will put pressure on the vendor to raise their prices if lots of patrons use their Visa or MC.

*** It is important to note, with Gemini Pay Flexa Wallet, you can pay your friend in DOGE if they help you paint your living room, but Flexa is not really thought of as a mobile wallet for paying out friends in DOGE for work, the purpose of Flexa is to allow instantaneous validated guaranteed payments via a mobile phone and not requiring a credit card or a bank account. Over 3 billion people around the world are currently banked, so this is a huge for a person without a credit card or a bank account.

Celo is its own chain based on Eth. Flexa SDK will be integrated into the Valora wallet app. Just to clarify, the Celo protocol itself is cheap, fast, and dumbs down the wallet addresses to phone numbers in Valora. It's like crypto Zelle in my opinion, and a great crypto to use once their stable coin has support. So its not Flexa that is making it fast, but will allow you to spend it at merchants. Undervalued project IMO.

You mean the engineers...i dont think Tyler himself expected a Q&A session from it then you had a bunch of us ask questions a engineer might not technically know. Like that tax aint no accountant. Tyler or even Trev has usually always been the guys answering questions. These two guys are always behind the scenes so to thrust the spotlight upon them lets not act like some of yall wouldn't wet your diapers. If i got hired as an accountant for a business will i necessarily know what exactly we do down to specifics? Hell no im paid to take care of the specifics and make sure yall get paid.

They dropped the ball a bit by now having Tyler or Trev answer the questions but it aint heart breaking. The SDK and Celo news were good enough.

Lol. Nice! Sorry if I missed that. Glad I’m not alone with the tinkering 🔥. The more the merrier. Apparently Amazon has a shiny metallic pink ABS filament but Shapeways won’t support it 🤦🏻‍♂️ - Amazon Metallic Pink ABS Filament

How are we feeling AMPians? FG index going to extreme fear - https://alternative.me/crypto/fear-and-greed-index/

Just loaded up some more, running out of fiat.

I think it will continue to steadily trend upward into tomorrow morning--it's done this all week. However, it will probably be available between .095 and .105 at some point within the next 12 to 16 hours. I could be wrong, but that's my guess based on what I've been tracking for the past few days.

If you aren't familiar with charts and analytics, go to tradingview.com and start learning how to use RSI, MACD, and supertrend indicators (there are youtube videos on how to use these--it's not hard). You need to pay attention to when a coin is overbought and oversold.

I have a small bag of Celo. Easy to stake on the desktop app. Big backers like a16z and jack Dorsey. Only crypto I know that is mobile focused and dumbs it down by linking wallet addresses to mobile numbers. Not sure 100% how they make that secure, but transfers are cheap and fast. Interesting economic model that uses crypto holdings (75% Celo and rest is BTC eth etc) on the platform to collateralize the cUSD stable coin and has a mechanism to buy/sell Celo for cUSD inside the wallets. Arbitrage opportunities exist to keep cUSD pegged to the dollar, so seems to be a more safe stable coin option. Valora wallet user interface is nice and they will be integrating the Flexa SDK to pay with Flexa soon. To me it seems the best crypto pairing for Flexa and widespread P2P transfers.

Confused what you nothing? There was a lot of big news last week. Carbon neutral by 2025, adding a wallet and partner with Celo/Valora, online shopping and the ability to pay at the pump with Sheetz.

I'm confused so maybe someone can clarify. In one instance it sounds like reward tokens won't be purchased on the open market. Then, Nami says, "Just to clarify, the fixed rewards from the network development fund are currently planned to run until the end of the year as a way to bootstrap the network. This is independent of the merchant fees being switched back on or not. We'll hear from the team when the fees start being distributed back to stakers." This response makes it sounds like the rewards from the Network Dev fund were going to continue for the rest of the year anyway and that it's possible that "buybacks" can still occur. I linked a screenshot.

Discord

Out of all the extensions available, MetaMask is the most vetted one I know. So yes, I’d prefer and recommend MetaMask. It’s fairly straight forward.... https://metamask.zendesk.com/hc/en-us/articles/360020394612-How-to-connect-a-Trezor-or-Ledger-Hardware-Wallet

Edit: for mobile, here’s MetaMask

https://metamask.io//download.html

TradingView.com

Gemini Exchange > AMP/USD

Volume Indicator > Hover over today's candle stick, and the total volume will show in the top left corner. We are now pushing pass 38M

Archegos also took this same strategy that worked great until it didn't. However, he layered leverage on top of leverage to the extent that one bet lost a 20 billion fortune in 2 days. So that's more a lesson on risky leverage bets. Lack of diversification simply means you rise and fall based on one bet, one team, one possible scandal. Enron and WorldCom come to mind, they screwed their investors royally.

That said, I have roughly 25% of my crypto portfolio in Amp, about 55% in Algo, and the remaining in Celo, Link, and a few DeFi protocols. Zoom out, and crypto represents 20% of my total investments. Out of my 401k investments, 5% is in gold, 20% in several Ark funds with a heavy percentage of that 20% in fintech that will use crypto/digital wallets, and the remaining is in traditional mutual funds as that is where the majority of the worlds money will continue to invest for some time. I simply share Cathie Woods view that Fintech/blockchain will be adopted sooner than later.

I encourage anyone to watch Cathie Woods videos on YouTube to get a unique perspective of the changing times we live in. While the saying don't fight the fed rings more true than ever, the simple fact is that we are in a time where change is accelerating faster and faster. The idea behind Ark funds is to invest in disruptive innovation, and blockchain is one of them. Going all in on one bet is a risky strategy that may or may not pay off, especially when there are so many promising technologies out there.

Whatever you do, best of luck because we are in this together!

Yessir, as soon as I staked my AMP I had similar thoughts as this article haha this will become an income source for retail investors and, importantly, helps prevent rash decision making like converting on Coinbase. Also waaaay easier than Celo or DOT for example.

Yes I know. That's what I'm saying.

Each capacity will have a different APY.

Staking in Celo Capacity will give you a different APY than staking in Gemini or Spedn.

Right not they are the same because they are paid out of the development fund, not out of transaction fees

The most used wallets with a low stake percentage will have a higher APY than a wallet that's rarely used with a high stake percentage.

An example.

Spedn does a hypothetical $100m in transactions on the network with 50k AMP staked in capacity.

Gemini does a hypothetical $50m in transactions on the network with 50k AMP staked in capacity.

In this hypothetical story, staking in Spedn capacity would have approximately 2x the APY of Gemini.

Hope this helps.

Correct me if I’m wrong but did they not announce that they’re the first carbon-neutral payments network, they have a new partnership with Celo, they have available and ready to use SDKs and online plug-ins AND that there are more announcements this week? All in one day? If people are upset with that then I’ll happily take their tokens. Seeya in 5 years💎💎💎

May 2020: Today, the Spend SDK enables digital asset payments for two apps, and over the next few months, we’re excited to bring Flexa payments to even more: BRD, Celo Wallet, Dharma, ShapeShift and others will all soon be enabling Flexa payments for their users.

March 2021: Valora’s adoption of the Flexa Spend SDK will unlock instant spending of Celo Dollars at the tens of thousands of merchant locations on the Flexa network right from within the Valora mobile app, leveraging Valora’s built-in security and Flexa’s instant, fraud-proof, and fee-free payments. We anticipate that Flexa spending will go live in the Valora app for US residents later this year.

April 2022: Announcing the Flexa Developer Grant recipients for Spring 2022. Payments link and Flexa SDK coming soon.

March-May of 2023: Really…the SDK is still coming…

2024: Soon™

All I know is I just staked 100k into the Celo pool so now I have some in 11 of the pools. I've staked a bunch of ETH2 and they just paid a dividend yesterday so that was just under $400 worth of ETH2 that has been added to my balance.

Average App / Transformer Per Day Gemini 0 SPEDN 485,822 Bitcoin 277,074 Bitcoin Cash 95,300 Cardano 94,694 Celo 97,940 Dogecoin 92,259 Ethereum 291,044 Lightning 1,590,613 Litecoin 89,423 Polygon 219,549 Solana 232,218 Tezos 92,975 Zcash 91,080 Total 3,947,990

I use coinstats/cointracker its completely free (you can have upto 5 exchanges on there.... I use it just to keep track of my buys and how much I spent, plus it shows me, profit/loss/and average buy ins etc... and everything.... honestly I'm on about 9 exchanges.... so I have coinbase/binanceUS/bitmart/trustwallet each of those are on their own portfolio.... and my other 5 exchanges I have on 1 portfolio (because your only aloud 5 exchanges max to keep track of)... it's an awesome app

https://play.google.com/store/apps/details?id=com.coinstats.crypto.portfolio

Current reward / subsidy is 3,750,000 AMP per day across all the pools.

​

I need to update this again, and it is thrown off a bit because of a weird couple of days in later April / early May when gas fees went insane. Buy roughly correct.

​

App / Transformer Daily Average Reward

Gemini 617,448

SPEDN 310,982

Bitcoin 184,756

Bitcoin Cash 62,599

Cardano 63,180

Celo 62,771

Dogecoin 68,241

Ethereum 221,328

Lightning 1,292,119

Litecoin 75,558

Polygon 180,490

Solana 180,457

Tezos 75,407

Zcash 74,997

Total 3,470,333

I haven't unstaked from lightning, but staked a second Bag to Celo which is now one of the lower. But it's fine, as most of those pools will still balance out because most new stakers will choose higher APY pools...

Flexa's new offering accepts payments from any app

Thursday 28 April 2022 08:56 CET | News

US-based payments company Flexa has launched Flexa Payments, a new tool for merchants to accept 99 different currencies from any app or wallet.

Flexa Payments provides merchants with capabilities for digital currency payments, including real-time authorisations, flexible settlement options, complete regulatory compliance, and no fraud. It also enables seamless compatibility with every digital currency wallet across twelve blockchain networks.

With Flexa Payments, merchants can enable digital currency acceptance anywhere they currently receive payments, whether in-store, online, or in their mobile apps. For customers, the intuitive interface allows for seamless selection of the correct network and asset for any app, offering payment instructions in just a tap and payment confirmation in less than a second.

Whether using no-code Payment Links or the drop-in Payments SDK, Flexa has tailored acceptance solutions for merchants, with newly enabled support across all of Flexa's existing ecommerce apps and plug-ins. Rolling out in the summer of 2022 to its existing point-of-sale partnerships are integrations with InComm Payments, Blackhawk Network, Citcon, GK, Rooam, and more.

Currently, Flexa Payments offers merchants instant on-chain payment acceptance over Bitcoin, Bitcoin Cash, Cardano, Celo, Dogecoin, Ethereum, the Lightning Network, Litecoin, Polygon, Solana Pay, Tezos, and Zcash. The new tools leverage the company’s DeFi collateralisation technology along with eleven new transformers to provide every merchant protection from fraud and payment risk.

Ideally, people wouldn't need to "opt-in" to using stable coins. They would be able to pay with fiat and it would be converted to stable coins behind the scenes (like how Gemini pay works when you use usd). Imagine a feature similar to Gemini pay, but in your mobile banking/payment app (Chase, BoA, Venmo, CashApp, etc). Consumers would pay how they do now, but Flexa would be used behind the scenes to settle the transaction.

Why would companies make the switch? Simply put, because Flexa does payments better than the competition. Their fees being under 1% is a HUGE advantage over traditional payment rails.

And regarding customer incentives (such as loyalty points) - Flexa doesn't concern themselves with that because they aren't building consumer facing tech. They want other companies to integrate with them and create their own customer experiences. To me, Flexa feels similar to Stripe. Stripe doesn't have any customer incentives built into the platform, but anybody who wants to integrate with them can certainly build out a rewards program if they'd like.

Enjoy your moment of sanity, and preserve this sanity. You are no longer blinded by green
candles. Use this time wisely.
I recommend on reading up on value investing (pretty important for bearish
times).
I highly recommend this book by Benjamin Graham “The Intelligent Investor Rev
Ed.: The Definitive Book on Value Investing”. It’s a thicc boi, but totally
full of knowledge. Written originally in 1949, but since revised and with
updated information. It’s recommended by Warren Buffet. https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661
Also, learn about Peter Lynch. He had 29.2% annual return average on the funds
he managed from 1977-1990. I highly recommend taking an hour out of your day
for his 1994 Lecture at a press club dinner: https://youtu.be/72Pq5zKEi\_g
Obviously,
none of this is financial advice. Just recommend that people do their homework.
You earned the money, don’t be a fool.

There's no proof, but are some fun hints and semi-announcements to draw connections and speculate.

Amp is supported and compatible with LRC and the loopring DEX ()

When Flexa added LRC to the network and SPEDN, last month, they announced this with a picture of a game console in the announcement design () (very speculative)

GameStop is supported by Flexa, and this partnership goes back in Flexa's history.

Loopring is creating a new counterfactual wallet at the moment, the exact kind of thing that Flexa is designed to integrate into. We also know that Flexa aims to add the native Tokens to wallets and apps that they integrate (Gemini-Gemini Dollar, Celo/CeloDollar-Valora, FOX Token- ShapeShift. That could possibly be another connection and reason why LRC support was added, but again is fully speculative.

I'd say there's definitely some stuff here but I'm not getting my hopes up, just collecting and connecting information I receive and patiently waiting for Flexa and Amp to grow✌🏼

I've done a bit of research on this and Uniswap, they have similar models. At least for Sushi, your rewards (yield) is paid in SUSHI, which is essentially voting units toward the development of the SushiSwap. The fees paid to trade crypto assets are then divided up to those providing liquidity in proportion of the liquidity they are providing to the overall pool. In addition you earn SUSHI of the 100 minted daily, and can keep it or swap it out for the Sushi token. Effectively, the market happening on SushiSwap isn't correlated to the yield the Flexa network. It is more correlated to the volume of trading, the amount of liquidity of that asset (how much how much supply is being provided and demand created), and the amount you are contributing to the overall pool. On say Coinbase / Gemini, the fees are being kept by them, on the decentralized exchanges they are being redistributed within the exchange. Here is a high level write-up.

https://www.kraken.com/en-us/learn/what-is-sushiswap-sushi

https://magento.com/resources/welcome-magento-marketplace

https://en.wikipedia.org/wiki/Magento

Magento is an open-source e-commerce platform written in PHP. It uses multiple other PHP frameworks such as Laminas and Symfony. Magento source code is distributed under Open Software License (OSL) v3.0. Magento was acquired by Adobe Inc in May 2018 for $1.68 billion.[2]

The software was originally developed by Varien Inc., a US private company headquartered in Culver City, California, with assistance from volunteers.

More than 100,000 online stores have been created on this platform. The platform code has been downloaded more than 2.5 million times, and $155 billion worth of goods have been sold through Magento-based systems in 2019.[3] Two years ago, Magento accounted for about 30% of the total market share.

Algo as a future staple Amp as a never sell Bright Union as a moonshot with their bright risk index that's coming soon Celo as an undervalued alt if they really nail the UX as a mobile first option That's other than the usual BTC and Eth

Also remember Celo Token and the Valora Mobile app.; both with tie-ins to the Philippines.

https://flexa.network/apps

Flexa made AMP, and SPEDN is the app made by Flexa which uses AMP as collateral so it's perfectly fine to ask about either here.

SPEDN has the stablecoin Gemini Dollar GUSD. Personally I use GUSD all the time on the SPEDN app.

Gemini Pay on the Gemini app uses Flexa Network as well and they have DAI and GUSD stablecoins.

I'm sure more stablecoins will be added. I believe Celo Dollar and USD Coin will be added as they're already supported digital dollars as seen here on Flexa's website: https://flexa.network/currencies

So for step #5, after I have the amp staked am I supposed to disconnect my wallet or leave it connected all the time while it's staked?

https://www.screencast.com/t/NX63TOKEcf

Algo as my main hodl. Amp is 2nd hodl and staked. Bright Union is a 3rd hodl as I really like their roadmap, transparency, and speed of development. Also is very early, so I'm hodling til moon or bust with them. Celo, small hodl as I like the mobile first and UX focus.

These are just highlighting my individual cryptos. BTC/Eth are probably safe bets, but I didn't get into crypto for safe, I have my 401k for that. Just my 2 cents from research/investment since May.

You can see using whatever exchange you trade with, or just look it up on tradingview.com. Right now AMP is 0.02136, however it was lower this time yesterday. The website probably only updates itself every few hours so it's showing a lower dollar amount staked than there actually is.

Noobs aren’t going to understand any of those words… they are going to tell you whales doesn’t exist, this project it’s shit because price doesn’t move none 🤣 the newbies that want to make money in no time are a plague of love bugs.. I hate them a lot!!!! They came here wondering and asking about PT, price predictions, magic crystal balls like we had here MRS Celo telling us about the future prices 🤣

I think it's a good idea to invest in other solutions as hedge. I am reading about XLM too, especially it feels the remittance space (and Celo caught my attention too).

As SB said, betting that Flexa/AMP will be the only player there is not realistic, but it offers sth original (collateral).

So, how is this token any different than other "it's really a good project" or " great tech" kind of tokens like Link, NuCypher or Celo that are just not moving? Or maybe just doubled in the last year whereas Solano went from $2.5 to $200 or Matic went from $0.1 to over $2?

Spedn and Gemini Pay have diferente list of crypto that can be spent.

Spedn has: Bitcoin, Bitcoin Cash, Celo, Dogecoin, Ether, Gemini Dollar, Litecoin, Zcash

Gemini Pay has: Gemini Dollar, Basic Attention Token, Bitcoin, Bitcoin Cash, Dai, Doge, Ether, ChainLink, Litecoin, Orchid, Zcash

So AMC app has to choose what crypto they want to accept.

I think they should just rename this coin ".06"

All kidding aside, a few observations that are getting me thinking:

• Trade volumes: I'm trying to find stats somewhere to verify this, but trade volumes seem to be getting lower and lower. I think this is the case for all crypto, but just looking at the last 24 hours on coinbase (if that number is actually accurate) volume was at 37.7 million, which is significantly lower than it has been for the last few days. I would normally think this is a bit of a bearish indicator......
• Visa's plays in the market: I thought it was interesting that Visa was buying NFTs and also forming partnerships with ACH pay to put out credit cards, it seems like they're testing the space out. I think if any of the larger credit companies want to get into the crypto payment space, building from scratch would put them behind in the buying Flexa would be an interesting play. Not sure how feasible that is, but it got me thinking of Flexa/Amp as an acquisition target in the larger crypto would make me think there are some bullish opportunities
• The Spedn app: I downloaded it and started playing around with it. A couple of observations:
  • Seems pretty easy to use. They had a list of 8 crypto you could load into the site (Bitcoin, BTC Cash, Celo, Doge, Ether, Gemini Dollar, Litecoin and Zcash).
    
  • Growing list of vendors you can buy from, including Baskin Robbins, which I thought was amusing.
  • The thing that got me though is that, according to the warnings on the site, it tells you not to load up more tokens than you're willing to spend.....because there's no withdrawal 's a little disconcerting. I hope they fix that.

Not sure if anyone has any thoughts on those. Overall, I'm excited by the project and I hope it goes somewhere. Keep stockin' and keep stakin' my friends.

Sven

Straight from mods on flexa discord… Not sure why this is a pissing match it’s a good thing. —- copy and paste—- No information to give a definitive answer, but I could imagine that since it takes 100k Amp to start a wallet, that would be a good starting point to entice wallet devs to integrate. With the Apy, that will ultimately be decided upon the amount of tx's the wallet users make. The fee % to my understanding is negotiated by Flexa, and those partnerships with Aurus, Citcon, Sheetz, and Incomm all have pre negotiated fee percentage for processing payments. Now wallets can also add to those rewards with their own mechanisms, think like Celo and Valora app who is a wallet integration, offers some form of return on spending. So in theory you could be earning Amp rewards for collateral and also a "cash-back" for spending in the first place, plus any additional rewards the wallet offers for either providing collateral or whatever else they come up with.

You do know what F U D means right? And I am stating you are wrong, it won’t be Flexa that will ultimately give the rewards to consumers, it will the apps and integrations who will push those. Flexa is the payment rail, not the issuing bank, albeit they will help incentivize the adoption with development funds. So spreading your fear, uncertainty, and doubt is misplaced. Think if Eco adopts Flexa, they have their own rewards, spending through eco right now earns 5% back. Flexa has announced that Celo and the valora app will integrate Flexa, same thing I expect a reward similar to Eco, or even better. These apps are akin to the issuing banks.

If I were a betting man, I'd say yes. For instance, they support Celo, but not Celo's US and EU stablecoins, yet. I expect that to change as the apps flesh out. I'd likewise expect Luna and UST to be integrated, but I have no particular knowledge, just assumptions

Flexa turned me on to the Celo project, because of their coin available on SPEDN, but also the Valora app of theirs on Flexa, which I have but haven't loaded up and tried out yet.

I ended up really liking the potential of this project and its focus on mobile

They are partnered with Valora, but the transactions use Celo cUSD and per Flexa's announcement direct spending is supported by the sdk. Straight fiat to crypto is not available yet, but could be possible with this platform or some others. I like how you can buy giftcards for places like Amazon and Walmart with their product though.

Here's a link to Flexa's Medium page. The announcement was on May 26 I think.

I also like that Celo only has 10B max supply. Not to mention Deustche Telecom, who is invested in / stakes Celo, is owned by TMobile. A law just came into effect in Germany that allows “special funds” to allocate 20% of their portfolios to Crypto. With mobile payments taking off, I can see Celo becoming popular with German institutional investors (not investment advice)

Yes. And also keep in mind there are more apps set to release on Flexa. The latest one they announced is called Valora, which is a relatively popular wallet/app that uses Celo.

It's also important to know that you have to pay the gas fees to stake and unstake to each individual app. So splitting 50/50 could mitigate risk and diversify your APYs but will cost more in the short-term and could be inefficient depending on how much you stake. Gas fees have been relatively low recently but we have seen them be astronomically high where it makes it less beneficial to split.

Possibly, pretty sure Flexa undermines their fee based business model though. Don’t get me wrong, I’d love to have Venmo involved, but it could also be that in 5 years we’re using Celo instead of / along side Venmo

they tweeted about Valora/Celo when they released it and made a blog post on their medium page and posted it in their discord. or do you mean Gemini? it has been out for a while.

again, I agree, spedn app needs some work. Idk if you've updated it since Consensus, but it seems to be working much better

"slow and steady"

ummmm they've announced like 6 new partnerships in the past month. Citcon, Aurus, Celo, Yearn, Zapper, SushiSwap... This will snowball. It's gone from less than a penny to 5 cents since January. I don't understand what people want. 10000000x gains per week? I mean come on, this isn't some shit/pump coin...