Read on Twitter
1/ We thought you'd never ask :) Many $LINK marines have already found our community.
Here is the tour de narratives and value propositions for both @FlexaHQ & @amptoken $AMP: https://twitter.com/ChainLinkGod/status/1387141674883760133
Here is the tour de narratives and value propositions for both @FlexaHQ & @amptoken $AMP: https://twitter.com/ChainLinkGod/status/1387141674883760133
2/ Talking about Flexa and payments - it's essential to turn a few corners around old payments narratives, namely, p2p on-chain payments from 2017. I wrote this to help with that: https://docs.google.com/document/d/1n6b_Y9uVaivCyzY0I8TpDsquoJIc-vkhjTKOBq2cQPE/edit?usp=sharing
3/ The above document was written to help reframe old, popular but entirely obsolete ideas around how crypto payments will work. It's also intended to clarify common confusion around the real value propositions of crypto payments and what adoption will actually look like.
Also:
Also:
4/ In addition to reducing payment processing fees from 1.5-2.5% average (worse for small merchants) to 0.5-1%, Flexa has also put what may be the last nail in the coffin of fraudulent payments. Here's a 101 thread on Flexa which moves into Amp territory: https://twitter.com/ProofOfJackson/status/1358859778181656576
5/ While there's everything to linger on and delve into with Flexa, I want to make a bee line towards clarifying to the middleware enthusiasts within the @chainlink community how $AMP is, uniquely, like a twin brother to $LINK in that it is chain, system and industry agnostic.
6/ Amp allows for the instantization of all value transfers, wherever they occur. This is not limited to payments. This is open to and intent upon absolving friction in all cross-chain, cross-system interactions - much like decentralized oracles.
7/ This capability not only reduces friction in cross system interactions, but also allows for back end infrastructure to handle transactions in more efficient, batched settlement schemes which resolve on their own time, additionally resulting in a smoother user experience.
8/ This is something which can apply to any of the money verbs and their related apps and systems - including, for example, borrowing and lending. Waiting on confirmations is a bummer, and a fountain of friction. Enter Amp.
9/ Batched settlement opportunities represent drastic reduction in network operating costs, in addition to smoother, more on-demand functionality for users of Amp empowered applications.
This also has the novel effect of assisting in the scaling of L1s/L2s.
This also has the novel effect of assisting in the scaling of L1s/L2s.
10/ In so far as these layers make use of these new efficiencies, there will be corresponding reduction in network congestion due to the transition from p2p on-chain transaction settlement on a per Tx basis, to batched settlement opportunities.
11/ This is a benefit that spans all applicable use cases and apps, and it is not limited to payments, or borrowing. It is everywhere, in any app, any base layer, and any system, where transaction based friction exists.
12/ It also means that the value of $AMP does not depend exclusively if at all upon @FlexaHQ and the rise of crypto payments. Rather, Amp, as with Link, stands to derive value by inserting itself within existing cross system interactions, as an agnostic instantization interface.
13/ As such, one could be a bear on crypto payments, for whatever reasons (mostly not reading The Real Story of Crypto Payments found in the second tweet of this thread) while still understanding the value of Amp as it applies to existing, successful, adopted infrastructure.
14/ This infrastructure is not limited by industry, nor is bound to crypto. It is not even bound to the digital world exclusively. Wherever value transfers already exist, with delays and friction - Amp is there to serve.
15/ This is an entirely new, novel mechanism for how we go about value transfers in at large. Codeveloped in partnership with the @Consensys Codefi team, there is every reason why the team at @FlexaHQ and @chainlink are working together on more integrations.
16/ Ultimately, we can spend days, weeks, or the years now that I have personally spent, aggressively researching Flexa and Amp.
The rabbit hole is deep. I don't remember the surface world anymore. Like to do your own research? Ask the hard questions? You'll enjoy this path.
The rabbit hole is deep. I don't remember the surface world anymore. Like to do your own research? Ask the hard questions? You'll enjoy this path.
17/ TL;DR
$AMP is the god of cross-asset, cross-chain, cross-system, transaction based friction.
**Additional info and resources from here forward:
Staking in place - which also offers yet another reduction in network congestion vs traditional staking: https://twitter.com/cryptoMIB/status/1377347334422454275
$AMP is the god of cross-asset, cross-chain, cross-system, transaction based friction.
**Additional info and resources from here forward:
Staking in place - which also offers yet another reduction in network congestion vs traditional staking: https://twitter.com/cryptoMIB/status/1377347334422454275
18/
Flexa's debut at Consensus 2019: Easy listening, but dense information - must experience material. I've personally listened to it closer to 20 than 10 times, and am heading to 30:
Flexa's debut at Consensus 2019: Easy listening, but dense information - must experience material. I've personally listened to it closer to 20 than 10 times, and am heading to 30:
19/ Not following @Stillm4n & @xavi_ttd yet? Better fix that. Not only are they fully based and Amp pilled, they're genuinely the best trader follows I've come across to date in crypto: https://twitter.com/Stillm4n/status/1384903432209932291
20/ And then we have @InfiniteAtman - an absolute must follow for all things @FlexaHQ, @amptoken and payments at large. His content speaks for itself: https://twitter.com/InfiniteAtman/status/1358753268923514880
22/ Other must follows, and true OGs of the Flexa & Amp community include: @Redacted009 (Parker) @cryptoMIB (MiB) @PraveenBalla_ (Thanos) and @NamiNori333 (Nami)
There is no Lumi without these brilliant, and kind hearted gentleman.
There is no Lumi without these brilliant, and kind hearted gentleman.
23/ For further education about Flexa or Amp, feel free to engage with any of us, anywhere. We're on twitter, telegram, and discord. Our community is well educated, and we genuinely love to share that expertise with others who are curious about these technologies.
24/ Thanks for reading. We're looking forward to Flexa's three hour session at Consensus on May 26th, where we hopefully await news of Flexa's SDK release - allowing any app or wallet to leverage Flexa payments. And maybe the debut of their online payments?
See you in a month!
See you in a month!
25/ P.S. - We noticed that @CathieDWood will be speaking at this Consensus. As fintech experts, obsessed w/ disruptive tech and value captures - this seems like a good time for @ARKInvest to meet the team at Flexa.
@yassineARK, @wintonARK, @mfriedrichARK, @cburniske, @draecomino
@yassineARK, @wintonARK, @mfriedrichARK, @cburniske, @draecomino
