Amplify
Token

AMPX as a Utility

The AMPX token will be used as a utility in two major phases. By offering the Amplify token (AMPX) as a means to provide access and compensation for work performed with the network the token will become the fuel that runs the Amplify exchange.

Phase 1 & 2: Fee Utility

The AMPX token will be used to facilitate transaction fees and to give users access to different aspects of the exchange; this applies to both the Amplify Brokerage and the Amplify Distributed Exchange.

DESCRIPTION:
Transaction Fees

In accordance with standard practices, we are implementing a standard maker-taker model to facilitate a smooth and simple process for all exchange customers. Our fees will be at, or below, most standard market rates today. For brokerage accounts, there will be an additional markup in accordance with modern-day standards.

Listing Fees

We intend to list all projects that pass our vetting process without a fee; however, if there is a complex token or coin with a new integration protocol, then we reserve the right to charge a nominal listing fee to cover the technological challenges associated with that process. Tokens will have the option to provide basic liquidity upon listing to ensure smooth processing of all initial orders on the platform.

Withdrawal Fees

In accordance with standard practices, when offering fiat to crypto and crypto to fiat options, a fee will be added to withdrawals to cover the cost of that service.

Additional Service Fees

For enterprise-grade services such as increased API transaction rates, there may be additional fees to cover the technological costs associated with those services.

Phase 3: Proof-of-Stake Utility

Upon completion of the initial development phases, Amplify’s hybrid exchange will be continuously servicing trade volume from around the world.

Tokenswap to Mainnet

During Phase 3 we will facilitate a token swap from the ERC-20 token that will be distributed following the ICO, to tokens running on our Amplify Proof-of-Stake (PoS) Mainnet. The token swap process will be facilitated through the Amplify Exchange or through a process that will be released in the future for token holders utilizing cold storage. Transactions with the new PoS token will be facilitated by Substratum Network participants who opt to earn AMPX tokens for supporting the Amplify Network via their node.


Amplify Bridgechain

During the Amplify Bridgechain stage, we will move towards true decentralization through Amplify Decentralized. Blending the best of both exchange philosophies, the Bridgechain will provide a direct mirror of Amplify Distributed to Amplify Decentralized through the power of the blockchain. This direct mirror provides near-instant transaction times, reduced transaction fees, and global availability. These three tenants currently do not exist on any other exchange, and the Amplify Bridgechain is the only way possible to attain all three tenants. The reason Amplify Bridgechain can accomplish this is because of its off-chain transactions facilitated by its system of decentralized nodes.

This network will handle verification off-chain and will sync with the distributed ledger. The Bridgechain meshes a distributed speed and performance driven platform with a decentralized, open ledger to create a perfect blend of desired and required features.

The AMPX token provides virtual fuel for this network by incentivizing nodes to authenticate transactions to the ledger of the Bridgechain. Node users process transactions to the Bridgechain and are selected using our variant of the Proof-of-Stake (PoS) consensus algorithm.

The Popularis Protocol

Popularis-Proof-of-Stake Consensus Algorithm

Upon Phase 3 of our project development, Amplify Exchange will leverage a Proof-of-Stake consensus algorithm called: The Popularis Protocol. This reward mechanism gives all participants the chance to earn AMPX by validating transactions on the blockchain. Nodes must stake a minimum amount of tokens to be eligible for a chance at the reward. The way the block reward is distributed depends on whether the block number is odd or even.

Even Blocks
Completely Random

If validating an even numbered block, the reward is split evenly among the 10 nodes capable of confirming the block; this distribution method rewards nodes for participating in the validation process and provides them with a chance to win an equal reward regardless of their stake.

For example, this is what the block reward distribution looks like when the block reward is 10,000 AMPX tokens, and the block is even-numbered.



Node 1: Stakes 1000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 2: Stake 5000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 3: Stakes 10000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 4: Stakes 15,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 5: Stakes 20,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 6: Stakes 25,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 7: Stakes 30,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 8: Stakes 35,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 9: Stakes 40,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Node 10: Stakes 45,000 AMPX tokens Percentage of Reward Block: 10% Token Reward: 1,000 AMPX
Total AMPX Tokens Staked: 226,000
Total Tokens: 10,000 AMPX
Odd Blocks
Selected based on the amount of AMPX held

With Popularis’ Proof-of-Stake, when validating an odd-numbered block, the reward is split across 10 nodes and distributed based on the percentage stake held by the 10 nodes capable of confirming the block. This distribution style pays a higher reward to nodes who stake more of their wealth.

For example, this is what the block reward distribution looks like when the block reward is 10,000 AMPX, and the block is odd-numbered.


Node 1: Stakes 1000 AMPX tokens Percentage of Reward Block: .44% Token Reward: 44 AMPX
Node 2: Stake 5000 AMPX tokens Percentage of Reward Block: 2.21% Token Reward: 221 AMPX
Node 3: Stakes 10000 AMPX tokens Percentage of Reward Block: 4.43% Token Reward: 443 AMPX
Node 4: Stakes 15,000 AMPX tokens Percentage of Reward Block: 6.64% Token Reward: 664 AMPX
Node 5: Stakes 20,000 AMPX tokens Percentage of Reward Block: 8.85% Token Reward: 885 AMPX
Node 6: Stakes 25,000 AMPX tokens Percentage of Reward Block: 11.06% Token Reward: 1,106 AMPX
Node 7: Stakes 30,000 AMPX tokens Percentage of Reward Block: 13.27% Token Reward: 1,327 AMPX
Node 8: Stakes 35,000 AMPX tokens Percentage of Reward Block: 15.49% Token Reward: 1,549 AMPX
Node 9: Stakes 40,000 AMPX tokens Percentage of Reward Block: 17.70% Token Reward: 1,770 AMPX
Node 10: Stakes 45,000 AMPX tokens Percentage of Reward Block: 19.91% Token Reward: 1,991 AMPX
Total AMPX Tokens Earned: 226,000
Total Tokens: 10,000 AMPX

Checks and Balances

In order to create a system that rewards all stakeholders often, and fairly, the Popularis Protocol will also leverage a balance system that will create evenly distributed rewards across stakeholders. Nodes that have not been rewarded for the longest time frame have a higher likelihood of winning the block reward provided they correctly validate the block. This provides a balance across all nodes for reward and creates an even playing field.