Amp is an open-source, decentralized protocol that aims to provide collateral as a service. It is a digital collateral token that aims to provide instant, verifiable assurances for any kind of value transfer. Amp's primary function is to quickly and irreversibly facilitate transactions for a wide variety of asset-related use cases. It was launched in 2020 with the intention of providing a fast, efficient, and transaction platform. Amp's unique interface allows for verifiable collateralization through a system of collateral partitions and collateral managers. These partitions can be designated to collateralize any account, application, or transaction, and their balances are directly verifiable on the Ethereum blockchain.

Amp operates through collateral managers, which are smart contracts that can lock, release, and redirect collateral in partitions as needed to support value transfer activities. It introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address. Amp is built on Ethereum's blockchain, which is maintained by a proof-of-stake (PoS) consensus mechanism. The Amp smart contracts have been audited by ConsenSys Diligence and Trail of Bits, adding an extra layer of functionality to the network.

Amp supports a wide variety of use cases for collateralization. It can be used to collateralize any account, application, or transaction, providing a versatile solution for value transfer activities. For instance, Amp can be used to collateralize payment networks, enabling instant, fraud-free payments to merchants across digital payment networks. It can also be used by individuals to collateralize their own asset transfers, providing immediate margin relief during transactions. Furthermore, Amp can be integrated into new DeFi platforms and protocols, diversifying its current and future uses and effectively increasing its collateral quality.

Amp was launched in 2020 by Flexa, a blockchain payments company based in New York. The project was spearheaded by Tyler Spalding, the CEO of Flexa, who holds degrees in Mechanical Engineering and Aerospace, Aeronautical and Astronautical Engineering from the University of Illinois at Urbana-Champaign. He also holds an M.B.A from MIT and has been involved in blockchain projects since 2011. The Amp ecosystem is entirely open-source and decentralized, which helps to decentralize risk to its users through smart contracts. The project has been audited by ConsenSys Diligence and Trail of Bits, contributing to the functionality of the network.