.Grayscale added Flexa’s AMP to its DeFi Fund, replacing BNY and UMA in quarterly rebalancing. AMP collateralizes digital asset payments as they are confirmed on their blockchains and settles the payments in fiat to the recipient. GregAhl reports
Grayscale Investments, which runs Grayscale DeFi Fund and Grayscale Digital Large Cap Fund, announced in a release on Tuesday the updated Fund Component weightings for each product in connection with their respective quarterly reviews.In accordance with the CoinDesk DeFi Index methodology, Grayscale adjusted adjusted the DeFi Fund’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Amp .
AMP is the native token of the Flexa network, a payment network which enables crypto-collateralized payments at physical stores and online. Flexa uses the AMP token to collateralize digital asset payments while they are confirmed on their respective blockchains and settles the payments in fiat to the recipient.
By enabling payments through the Flexa network, supporting merchants can more easily and trustlessly accept payment in BTC, ETH, and other digital assets. The Flexa network is one of a number of projects intended to accelerate the development of the blockchain into a mature peer-to-peer money system, according to Grayscale.At the end of the day on Jan. 3, 2022, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.
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