What is AMP?

AMP provides a platform from which you can collateralize asset transfers. By staking AMP, any other form of value exchange can be guaranteed on the platform. 

This ranges from :

• Digital payments currency exchange
• Loan distributions
• Property sales, etc.

Once the AMP is staked, it is ready to collateralize a transfer. This is really useful for fraud-proof networks and allows for multiple real-life applications. 

Amp token was developed by Consensys, which was founded by one of the co-founders of Ethereum Joseph Lubin. Consensys is best known for the creation of the MetaMask browser wallet extension.

AMP token has recently seen a massive rally due to it being listed on Coinbase. Even when the market was a sea of red, AMP was aiming for the moon. Before the Coinbase listing, the AMP token was sitting at about $0.04048818

From the 8th of June till the 16th of June, Amp saw a 195%+ rise in value. This of course was attributed to the listing of AMP on Coinbase for trading. However, since the 16th of June the price has taken a dive by more than 48%.

I believe that there is massive potential in this space, at a cost below $0.09 it is worth picking up a few of these tokens. While we wait for the massive adoption and thus price increase, one is able to stake their AMP and slowly accumulate more. 

As we can see from above, AMP token has a wide partnership encompassing multiple decentralised exchanges, oracles and even centralised exchanges. This project is still early in its infancy, we are however already seeing adoption and use in the USA. 

When you stake your AMP, you are able to stake to the Spedn app. This app allows users to use AMP’s collateralised features to spend crypto in store. Stores such as Lowe’s hardware, Jamba Juice, GameStop, etc.

If you would like to learn more about AMP and possibly earn some, check out Coinbase.com/rewards! Happy stacking.

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