Amp is a multi-platform insurance token designed to protect transfers while they’re processed by the blockchain. It achieves this through the use of shared collateral pools.
As blockchain transfers can take anywhere from a few seconds to a full day (depending on the network and how much congestion it’s experiencing), Amp offers users protection against price volatility while the transaction is being processed. The collateralised system also means that assets can be used by recipients instantly without having to wait for network confirmation. Amp can be used to source collateral for real world asset transfers too.
AMP is the token used in the Amp collateral pools. People contributing AMP tokens receive more AMP as a reward, but their tokens can be liquidated in the case of a failed transaction. People using the collateral pay 1% transaction fees which are used to buy AMP on market and distribute it to those staking their tokens.
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