The last few weeks have seen a year's worth of industry news. To ensure you're caught up on the latest Amp community developments, read on to learn about the Amp partnership with Ondo Finance and Frax, the vote to increase the Amp subsidy for new apps on the Flexa network, smart contract insurance with InsureDAO, new Amp listings, and crypto news from around the world.

For new community members, check out previous issues on Substack and subscribe to stay up to date. For additional, more frequent updates, make sure to join the Amp community on Discord and Twitter.

In case you missed it…

Amp partners with Ondo and Frax to create AMP-FRAX pool on Uniswap

Ondo Finance announced a partnership with Amp and Frax to introduce the AMP–FRAX pool on Uniswap. Ondo’s offering is unique in the DeFi space. By building on top of traditional automated market makers, Ondo incentivizes increased liquidity of both stablecoins and volatile assets for popular DEXs like Uniswap and Sushi.

Snapshot vote now live regarding increasing Amp subsidy for new apps

Flexa posted an idea in the forum to increase the Amp subsidy by 1 billion AMP per year to help facilitate staking for new apps coming to the Flexa network. The community engaged in thoughtful discussion over the last week on the Amp Community Forum. With broad support from the community, the matter is now live for gasless signature vote until Friday, March 25.

Amp launches on InsureDAO

When it comes to DeFi, there are always risks involved. Insurance for a variety of smart contracts, including Flexa capacity, can be purchased via InsureDAO, a new decentralized platform.

Around the Coin interviews Flexa CEO Tyler Spalding

Around the Coin, a fintech and crypto podcast, recently hosted Flexa CEO Tyler Spalding for a deep dive into digital asset payments. The discussion touched on the roadblocks that prevent merchants from accepting digital assets, why merchants might not want to accept direct digital payments without an intermediary (hint: privacy!), the costs of integrating digital asset payments products, and how Flexa solves for these roadblocks and costs. Tyler also discussed why Amp was created with a fixed supply, and why he doesn’t believe in burning tokens.

Amp on Digifinex

Digifinex, a top-30 global cryptocurrency exchange, made the AMP–USDT pair available for trading. The new pair went live on March 1, 2022.

Metrics update

Current TVL of Flexa Capacity — $706.4 million

Earn rewards for staking your Amp on the Flexa network toward the apps and network transformers below:

Stake Gemini

Stake SPEDN

Stake Lightning

Did you know?

The Amp Community Forum is a great place to introduce your ideas and raise questions for debate and discussion. Whether you have thoughts on integrations, tokenomics, incentives, or technical details, it’s a great place to hone those ideas until they're ready for official voting.

DeFi and payments news

Shake Shack tests bitcoin rewards with Cash App

Shake Shack is trialing bitcoin rewards for purchases made via Cash App as part of an exploration of customer interest in cryptocurrencies. With the campaign, Shake Shack customers get 15% back in the form of bitcoin on purchases made using Cash App’s debit card. Shake Shack’s entry into bitcoin rewards is part of the larger trend of merchants experimenting with different ways of integrating digital currency into their payments and loyalty programs.

Mastercard and Visa hike interchange fees

Mastercard and Visa announced increased interchange fees coming this April after plans to do so two years ago were put on hold by the pandemic. Interchange fees have been the subject of antitrust investigations for years, with most cases in the US being settled out of court. 

The White House releases executive order on cryptocurrencies

After weeks of speculation about the direction of President Biden’s executive order on cryptocurrencies, the White House announced a generally benign—and even slightly positive—plan to continue to study how best to encourage innovation in digital assets while protecting consumers. The digital asset community responded positively, with hopes that more pro-innovation regulatory clarity will be forthcoming.

From the community

Long-time community member Nami added nuance and insight to the discussion of bootstrapping collateral pools earlier this week

Tweet of the week

t_rugger @t_rugger

First time spending #crypto in the real world! Spent a little $DOGE on some dogz and fryz at @sheetz with @FlexaHQ #SPEDN. Instant and EZ! The future of #PureDigitalPayments is here. #PayWithFlexa #PoweredByAmp #ShopCrypto #doge #dogecoin $AMP #amptoken

March 6th 2022

93 Retweets202 Likes

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