Floating Ratio Profile picture
Jun 9, 2021 23 tweets 9 min read Read on X
A thread: A New Payments Network Based on Equality
@FlexaHQ $AMP @amptoken
1/ Payments are not broken; for most consumers, it works perfectly fine. Yet, the foundational elements are ending their lifecycle - and that is where innovation stagnates, and processes get unnecessary cumbersome, slow and expensive, eventually, to the cost of us all.
2/ Innovation happens mainly above the surface, with well-designed interfaces, convenient integrations, (@ 1st glance) lucrative benefits, and great marketing. Yet, at the same time, the foundation remains unchanged and appears to lose connection with modern-day needs and demand.
3/ 95% of fintech still operates on top of old systems, limiting themselves from true product innovation. DeFi and blockchain have many technological advantages over legacy finance. Blockchain's superiority in encryption, transparency and p2-to-p2 empowerment is undeniable.
4/ Blockchain and the opportunity to decentralize enable us to rethink processes around trust, settlement, governance, security, and the distribution of value, not only in business but also in how we cooperate and agree with each other as a species.
5/ Payments do not need another competing fintech fighting for the consumers' or merchants' attention, offering marginal benefits to its competitor. Instead, it requires an alternative a layer deeper, which provides a more inclusive and beneficial method for exchanging value.
6/ A fresh and healthy, non-toxic soil on which new, small and large businesses can seed, grow and harvest better products and services.
7/ It not about promoting an anti-capitalism agenda but an essential contribution to the transition to a new foundation under capitalism - a new paradigm for building a business. DeFi powered payments are well-positioned to be the driving force behind this transition.
8/ What is the position of @FlexaHQ? Is Flexa the foundational payments rail for crypto/digital value exchange and not another competing payments provider or gateway?
9/ @Flexahq reimagined payments from the ground up, taking out 90% of the middlemen involved in legacy finance. This is amazing, but we should also be realistic; much of it can be ascribed to the characteristics of the chosen technology. Technology alone is not the winner here.
10/ The more fundamental difference is how equity and the network's profit get distributed via the collateral token $AMP: Flexa is a network, not a company - the business has no own revenue model - a statement that appeals to the imagination.
11/ The meaning of a network is simple; a group or system of interconnected people or entities with a shared incentive or belief. The holders of $amp form a network, providing the collateral for spending capacity.
12/ Compare it to a flock of birds; they fight each other for food and territory. But, more prominent movements they do as an entity, together they're more secure, more resilient and help each other navigate more fruitful places. The birds are equal but not the same.
13/ It comes to the core principles of running the economy sustainably, to what degree do we compete; and to what level do we harness the collective strength to move forward and create prosperity for all parties involved.
14/ This is likely what @FlexaHQ aspires to form. A network wherein merchants, financial service providers, and consumers have equal trust in a set of underlying core principles yet are challenged not to be the same and be competitive, again benefitting the network as a whole.
15/ For @Flexahq to reach significant global reach, the network shouldn't discriminate and welcome every entity that shares its foundational beliefs and contribute to the network's strength.
16/ Therefore, Flexa will not discriminate between startups, legacy players, banks, payment gateways, tokens, currencies, etc.; they are invaluable in getting the network from the ground at an unparalleled scale.
17/ They are the brands we know, trust, and already are familiar with - think of possibly @Venmo, @BankofAmerica, or @Marriott. They will elevate their existing products or build new revenue models - more aligned with merchants, modern consumer demand, and today's tech.
18/ For founders of new startups, @FlexaHQ could be integrated as (part of) the foundation of next-gen fintech products and services - concepts we have never seen before - and ones we're already getting teased with (@eco).
19/ The economics behind this project and the value of $amp are something we might not have seen before. If @FlexaHQ succeeds in growing its ecosystem and meaningful volume hits the network, we will get the first indications of what the future could have in store.
20/ Keep in mind, $amp not a stake in a company; it is potentially a stake in an extensive, global network of payment solutions and services that all bring in heavy transaction volume, which needs to be backed by liquidity - represented by $amp.
21/ All value created will find its way back to the network participants - in the form of the price development of $amp, and network rewards for every Liquidity Pool. In this way, every participant is incentified to keep the ecosystem healthy, secure, and alive.
22/ Is this replicable? Technically yes. Will we see more solutions? For sure - the true magic of @FlexaHQ will prove itself by the participants' conviction; their belief keeps the flock together and will organically be a magnet for new 'birds' to join the flock.

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More from @floatingratio

Mar 17
Futureverse & The Root Network 101 (Long Read)

I became familiar with the precursors of the @futureverse / @TheRootNetwork as a participant in the LPB of @altstatemachine in 2021. Since the introduction of the Root Network and Futureverse in 2022 and 2023, I've begun participating in the ecosystem.

In this article/thread, I aim to provide an initial introduction to the projects, noting that for many, the myriad developments and tokens involved can lead to confusion and dismissal. I’m not going to explain every individual project and technology in detail, but I will help you with the thinking framework for a general understanding to speed up your research and introduction to the ‘Open Metaverse’.

Additionally, I will share articles and posts that will help to get a deeper understanding of this project.

$root $asto $sylo $xrpImage
Goal and Expectation Setting
Due to the origins of this project, there's ongoing confusion about why it involves so many different tokens. I encourage you to look beyond the 'this must be a grift/cash grab' critiques commonly encountered in the crypto world (not without reason in many cases). If you can't, then perhaps this project isn't for you. To truly understand it at this (early) stage, some level of participation is essential.

Yes, this could represent a financial risk, as you're betting on an entire ecosystem to thrive. However, to me, that is precisely the primary rationale for making an investment: belief in the concept. Personally, I believe they are attempting to launch this in a legitimate way, but it's ambitious and can seem scattered at times.

As time progresses, it all starts to make more sense, and the pieces begin to fall into place. Yet, it could still be a long journey.

This project isn't suited for active trading yet. The most rewarding approach is to invest for a longer term and participate, which is generously rewarded through various incentive and reward programmes.Image
The Right Mindset for Your Due Diligence into @TheRootNetwork & @futureverse
The first important mindset shift: zoom out. This is not just a single project; it's a metaverse and gaming ecosystem with multiple projects building and offering services within this ecosystem. At its core is a low-cost, Layer 1 blockchain.

Indeed, you'll notice that many of the initial projects were launched or incubated by the same team or acquired by them. I believe this was crucial for realizing their vision, establishing a quality benchmark, and ensuring the core elements were interoperable and user-friendly. This approach has laid the groundwork and plumbing for the open metaverse.

Currently, more individual builders, communities, and intellectual properties are coming on board. Therefore, it's likely that more tokens and NFTs will be launched by independent developers, as anyone can initiate a project on the @TheRootNetwork .Image
Read 24 tweets
Aug 11, 2021
A bundle of my threads on @FlexaHQ & @amptoken $amp Image
1/ Storytime: Real-world digital payments with Carrot Bank's new Wallet App
2/ Guardians of the Network – Staking $amp to @FlexaHQ
Read 10 tweets
Jul 1, 2021
A thread: AMP–O-NOMICS - Key insights on the utility of @amptoken in @flexahq

@FlexaHQ $AMP @amptoken
1/ Introduction; In this thread, we explore the most critical factors that will drive the value of $amp as soon Flexa Network gets up to speed. All used numbers are guestimates since the majority is still evolving for @amptoken & @flexahq.
2a/ $amp fulfills a key role in Flexa Network as the primary collateral token for securing all transfers and make value move more quickly. If you don't know what Flexa does and how it works, please read the attached thread first; Digital Payments 101
Read 48 tweets
Jun 24, 2021
A thread: A realistic perspective on @FlexaHQ's mission to become a leading payments network (1)
1/ We're at a stage we take online and virtual payments for granted; it works almost natively and instantly via all kinds of devices and platforms - you put money in somewhere, and it magically comes out elsewhere.
2/ Payments software became a vital industry; Fintech helped consumer and business payments forward, making them more efficient, shortened processes, allowing better programmability, more native integrations, and less bureaucratic hoops.
Read 31 tweets

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