Staking of AMP (predecessor Flexacoin) to Flexa Capacity and the resulting participation in the initial network reward distribution began at the end of 2019. Initially, it was to continue through the end of 2020, with rewards totaling ~1bn AMP per year at a rate of 2.5mm distributed per day (on 15-minute intervals). Due at least in part to the merchant onboarding delays cause by COVID-19 and other factors, these rewards benefits were extended through at least the end of 2021. This has served to reward early supporters providing collateral to Flexa app, SPEDN app, and more recently Lightning transformer. It has led to 65%+ of circulating AMP supply staked to capacity as of the time of this writing. The current APY for staking is roughly based upon a split of the ~2.5mm daily AMP reward into the three pools (2 apps, 1 transformer), annualizing it, then dividing by the amount staked to the respective pool. This reward distribution and the subsequent extension has been an unequivocal success to building a support community and sizeable collateral pools.
Given the fixed daily rewards, there is no way to accurately determine or estimate usage of staked collateral for transactions or the resulting fees generated, regardless of how nascent / nominal that volume is at present. The merits and risks of disclosing this information at this stage span the obvious to more nuanced – surely to be discussed and debated among the community.
This idea (and potential maturation into a Proposal) is for the release of transaction volume (AMP collateral usage) data on weekly and / or monthly intervals at whatever “level” is deemed both responsible by the Flexa team and compliant with all partner promises / non-disclosure requirements. For example, total usage across all pools, usage by pool, etc. I have thoughts on this including benefits, risks, timing, etc., but will save those for the discussion vs. the topic.
NOTE: I will edit this idea with any omissions, incorrect factual data, etc. Based on feedback from the community, complications, and interest in doing so, this may develop into a Proposal for vote, but would need to be submitted by another individual until such time as I win Powerball (probably soon).
Glad to see the “ideas” section is now available for new posts and thanks for making the first suggestion!
I struggle to see how anything good can come from Flexa releasing information at this point and time, even in aggregate and on say a month cycle. I think anyone who is really following this project can read between the lines and see that transaction volume is likely minuscule. The lack of merchants you can actually utilize is definitely a factor, personally I had only used Lowe’s thus far and now even that is offline.
There will be a point and time when this information should and will be made available, but unfortunately I don’t think that time is now.
I think the idea of showing aggregate AMP usage on bigger time frames like weekly or monthly sound perfect. Also, way to include and highlight that the Flexa team would need permission from its partners. NDA’s are huge, especially in the payment industry.
This would be nice to see in future, however I’m inclined to agree with @Moosetoy and suspect it’s a little bit too soon just at the moment. Whilst I would like to have these figures to hand, I wonder whether this may also be information that is best withheld at this current time, NDA’s aside to keep it from competitors in the payment space.
Re frequency I’d suggest quarterly would be a sensible timeframe as this would line up with when companies report earnings. If we take Lowes as an example it’s easy to find their public financial results on a quarterly basis which include Sales. This may also go some way to helping with an NDA by avoiding publishing of sales data ahead of the companies themselves (noted that this only applies to public companies).
Granted this is a new (revolutionary IMO) payment rail, but it still operates for traditional companies so the frequency of information would have to be agreeable for them.