Overview
One of the popular trends in the cryptocurrency market right now is the native tokens ofcryptocurrency exchanges. The popular crypto exchanges like Binance, Huobi, and KuCoin among others have launched their own cryptocurrencies viz. Binance Coin (BNB), Huobi Token (HT), and KuCoin Shares (KCS). In the past few months, when the majority of the cryptocurrencies either struggled to maintain their pace or dropped significantly, these exchange coins like BNB have not only been the surviving ones but one of the few growing ones. A new cryptocurrency exchange in the market, ABCC, a digital asset exchange is now all set to release its native token AT. Let’s figure it out!
ABCC token
ABCC is a crypto exchange that aims to become a world-class exchange through its digital asset evaluation framework, a variety of trading options such as crypto trading, marginal trading, Over the counter (OTC), and contract trading.
With ABCC token (AT), the exchange is planning to incentivize their users.
The exchange is already in existence for the past 2 months and has a number of cryptocurrencies listed on its platform. Apart from the popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH),Ripple (XRP), Litecoin (LTC), and Qtum (QTUM), it also has other coins to add diversity and cater to different users’ needs.
Team profile
ABCC was founded by Calvin Cheng that has an experienced team of four advisors listed on its website including Dr. Michael Frendo who is the former minister of foreign affairs of Malta. Other names are, Weixing Chen is the blockchain investor who has invested in a number of blockchain projects, Zhang Lei is a product manager who was the founder and CEO of Tapas Mobile before it merged with Baidu Mobile Security BG, and the serial Entrepreneur, Forrest Chen who previously co-founded Umeng which was acquired by Alibaba.
The exchange also has three institutional investors credited to its name viz. Funcity Capital, Dream Seeker Capital, and BlockOrigin Capital.
Business model
The blockchain-based AT token is native to the ABCC Digital Asset Exchange that will allow its holders the access to a number of benefits. For using the products or services on ABCC such as paying transaction fees or purchase other digital assets, AT will be used. Also, to participate in campaigns and activities along with getting rewarded. AT will further allow the holder to participate in community building and proposing suggestions among other tasks.
They return 80% of the trading fee to AT holders in USDT, BTC, and ETH.
Backing technology & crypto-sale resiliency
This Singapore-based exchange was incorporated in April 2018, that is apparently charging no trading fees. It’s native token AT is an ERC-20-based token whose total supply is fixed at 210 million and estimated initial price set at $0.4 per token.
Token distribution
Out of the total 210 million tokens, 50 percent of the share is for simultaneous release distributed in this way, 10 percent will go to investors, 20 percent to the team and another 20 percent to the exchange platform.
The remaining 50 percent will be for trade contributions, comprising of 40 percent, where members who trade on the platform will be rewarded via Trade-to-Mine (ToM) mechanism and 10% is for rewards for historical trades.
Akin to Bitcoin mining model, AT tokens have adopted inflation model which includes release and distribution steps. Following a half-decay pattern, there will be 6 periods in total where each period will have 120 days. Furthermore, blocks will be generated every 6 hours that means about 4 blocks per day.
As for distribution, AT will be distributed in a “block to members per the percentage of their trading fees within that block.”
Community acceptance
The exchange is two months old and has its presence on Facebook, Twitter, and Telegram. With over 4,500 follower on Facebook and Twitter and 2,400 members on Telegram, ABCC is progressively capturing the attention of investors. It also has Japanese, Korean and Russian Telegram groups.
A note to investors
Exchange tokens are becoming increasingly popular that offers a lucrative and more secure investment option. ABCC’s AT token is planning to tap this high potential market with a special touch of Bitcoin like mining inflation model. The exchange has already created its presence in the market with 39 trading pairs and 3 of the most demanding cryptocurrencies i.e. BTC, ETH, and USDT as base currencies. In a short time, the exchange has registered good numbers in terms of trading volume, trading market and users that adds value to its AT token.
Methodology
To rate a Token, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:
Whitepaper — Availability of code or prototype, the breakdown of funds, wallet for crowdsale
Team profile — Team’s strength and reputation
Business model — Problem solved, purpose & utility of the token and the economic model
Backing technology — Blockchain infrastructure, clarity of terms & conditions and token software
Crypto-sale resilience — Incorporation, token distribution, legal risks and security aspect
Community acceptance — Clarity & frequency of communication and social media presence
By asking the right questions, we maintain the integrity and viability of our review while following a rating method that is based on the criticality of a particular factor. For instance, elements like token utility and funds breakdown have been given the highest importance while the team members’ reputation and plan to attract a user base are of medium criticality.
We have a team of robust professionals who rate the projects in a completely unbiased manner.
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Caution: Coingape publishes the project reviews only for the information purpose. It is not an invitation for investment. When making investment decisions, conduct your individual assessment and consult with an advisor.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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