/biz/ - Business & Finance

>>28637973
Yep! Amp staking is active on the Flexa network. You're offering your AMP as the collateral for the transactions happening within the flexa network (on SPEDN or Gemini currently, or on new projects added).

https://app.flexa.network/

If you go here, it'll take you to the FLEXA app. Explore brings you to the current apps you can stake to, being Gemini or SPEDN for now.

Basically, how it works is you offer up your AMP as collateral to the network, and AMP processes transactions using the pooled funds. So, when I go to lowes later and buy my insulation, planks, etc, AMP is used as collateral from my understanding. The more AMP staked, the more value in the network for transactions to be made.

I'm a midwit so my explanations aren't great, but even I can see the absolute value of this. Current APY's on staking are about 4.85% for either network, but I believe that is subject to increase with how much traffic there is on the network.

>>28638190
Thanks for the link! I believe I'm already in this one, but this is great to share with everyone else who's new to the project. Also, word of warning to anyone who joins, they will tell you to go to the TG channel for price discussion, so if you're going in to just talk about price predictions, you might get directed elsewhere.

Trev is pretty active in this one (assuming I have the right discord in mind), so you can get your questions answered about the project from the guy himself.

>>28638247
Absolutely. I've been looking for a way to completely remove fiat from my holdings, and this might just be it. I'm overjoyed there's a project like this, and want to share it with everyone so we can finally escape the fiat ponzy scheme.

>>28638404
So much this. Unreal amounts of potential if they can take on the marketshare of our current financial system. Could be a bluechip in the coming years dependent on market adoption.