Source: Ambcrypto, originally published on .
ABCC Exchange has announced that they have launched the Trade-to-Mine [ToM] system for their token on 9th July. The token, known as ABCC Token [AT], offers users a multitude of exclusive privileges on the platform.
The exchange was a brainchild of Calvin Cheng, an ex-Member of Parliament of Singapore and a prominent media and technology magnate. The other co-founders of the platform have varied experience and stellar track records at some of the most successful Internet, financial services and management consulting firms.
ABCC exchange allows traders to function with no deposit required for trading and a low withdrawal fee. The platform offers a diversified portfolio of handpicked tokens for trading, so as to expose users to digital assets they might not have heard of. Through these features, ABCC aims to provide a frictionless, user-centric trading experience.
It offers trading pairs with Bitcoin [BTC] for Litecoin [LTC], Ethereum [ETH], Qtum [QTUM], Bitcoin Cash [BCH], EOS [EOS], XRP, Dash [DASH], OmiseGO [OMG], Ethereum Classic [ETC], 0x [ZRX], Golem Network [GNT], Monero X [MXM] and more.
What is ABCC Token [AT]?
The ABCC Token is the native token of the ABCC platform. With a total supply of 210 million, the platform features no future offerings of the token to ensure continued trading. The coin is estimated to be set at $0.4, with trading on the ABCC platform beginning upon 5-8% of the total supply being circulated. Compared to its existing competitors, it could be the most stable platform token.
The token is mined through a process known as Trade-to-Mine. Trade-to-Mine is a revolutionary system to ensure the release and distribution of the ABCC token. It is used to reward users who trade on the platform. Taking inspiration from the mining process of Bitcoin, the mining difficulty of the coin will double every 120 days. This means that the token will be released in a half-life decay pattern.
Within each half-life period, one “block” will be generated every 6 hours. The same number of AT will be released for every block inside the same half-life period. When it gets harder to mine ATs, benefits of the platform gets better. This, in turn, will drive the revenue, with a long-term prediction for 100x profits despite fluctuation in the short term.
10% of the total supply of AT will be used to reward eligible existing users. The coin will be distributed to the eligible users based on their cumulative trade volume contribution until June 27th. Following the reward of the token, it will be locked for 180 days. The AT mining and trading fee can be seen on the homepage.
The platform has recently launched an upgraded mining referral program, which features rewards for inviting new users to the platform. The program will run from 9th July to 8th October, with 20% of calculation power earner from Level 1 referees that Trade-to-Mine. Level 2 referees with earn 10%, with Level 1 who have been invited receiving an extra 10% of power.
The calculation power will be earned within 90 days, with rewards calculated in AT and deposited to the ABCC account the next day.
Users on the platform that hold AT are offered a variety of added features. They can use AT for various products and services on the ABCC platform, and purchase various digital assets listed on the platform. They can also pay transaction fees, gain access to premium services offered to the user, and share in 80% of the trading commission collected by ABCC. It also gives users the ability to participate in campaigns on the ABCC platform, community building exercises, and interactive sessions with the ABCC team.
Prominent investors in the project are Funcity Capital, a frontier institutional investor in the field of blockchain, Dream Seeker Capital, known for its investment in Qtum and Block Origin Capital, a venture capital fund with a focus on blockchain innovation and cryptocurrencies.
It features a star-studded group of advisors, with names such as Dr Michael Frendo, the Former Minister of Foreign Affairs in Malta, Weixing Chen, the Chairman of Funcity holdings, Zhang Lei, CEO of Yee and YeeCall, and Forrest Chen, a serial entrepreneur.
ABCC aims to provide fiat, margin and contract trading to its valued users after obtaining the relevant license and permissions. It will also provide various Value-added Services to facilitate the decision making of the users, along with over-the-counter trading solutions.
AMBCrypto contacted ABCC for answers to the questions we had about the platform.
Q: What drove you to create ABCC?
We aim to provide a frictionless, user-centric trading experience. We embrace the philosophy of blockchain —open, frictionless and participatory. ABCC focuses on helping investors identify valuable blockchain assets, offering a secure online trading platform and providing professional trading services.
Q: Is ABCC Token a part of your client-focused offerings? What incentives are offered to the users to hold AT?
ABCC Tokens are rewards to ABCC members. Participating in various activities and campaigns on ABCC. ABCC will reward members who meet certain criteria. For example, members holding AT will share in 80% of trading commissions collected by ABCC.
Q: What is your reason to release the token in a half-life decay pattern?
Inspired by Bitcoin Mining, ABCC Token [AT] adopts a reasonable inflation model. The difficulty of mining doubles every 120 days, as a result, the value of AT expects to increase from the upper line through the rising cost of mining.
To know more about ABCC, click here.
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