AAX is the world’s first digital asset exchange to be powered by LSEG Technology.
Launched in November 2019, AAX is the world’s first cryptocurrency exchange to be powered by LSEG Technology’s Millennium Exchange the same matching engine that powers London Stock Exchange. It is also the first of its kind to have joined London Stock Exchange Group’s (LSEG) Partner Platform.
Catering to retail and institutional investors, we operate spot, futures and over-the-counter markets across 50+ crypto spot pairs, derivatives, and fiat-to-crypto on and off ramps. AAX also offers perpetual futures contracts for major cryptocurrency pairs with BTC and USDT as the primary settlement currencies.
We make it as easy as possible for new investors to purchase and sell crypto for fiat. Our over-the-counter platform hosts institutional-grade liquidity providers, offering a simple way for our clients to move in and out of crypto.
This year, 2020, we are launching AAX’s native exchange token AAB – built to serve as a bridge between crypto and global finance.
To attract more capital into the digital asset world, we will roll out a set of unique financial instruments, and expand on tokenized commodities, perpetual contracts, options, indices, altcoins and security tokens.
More than a token, AAB is an integral part of AAX, providing special benefits to users, and a means to be part of the growth of the exchange .
It is built to serve as a bridge between digital and traditional assets, retail and professional traders, takers and market makers, the exchange and its partners, and it will be deeply integrated with AAX’s upcoming products expansion.
We like to think of AAB as digital umami – it adds that extra touch, that next-level flavor, that hard-to-define dimension – the missing piece that makes everything taste slightly better.
In total, 50 million AAB is to be issued as an ERC-20 token on the Ethereum blockchain, and it will initially be valued at 1 USDT each.
AAB: Utility & Access
Multi-tiered discount scheme
AAB is the primary currency for settling up to 100% of all trading fees on AAX.
Optimized Wealth Management
AAB will be used to drive promotions across lending, borrowing, and other features.
Platform Upgrades
Pioneer Program
Daily Coinburns
Built for aggressive price action, AAB will benefit from daily buybacks and coinburns funded by 100% of all trading fees earned by AAX on its futures markets. Any AAB bought back from the market will be permanently destroyed and auditable on the blockchain. This process will continue until 50% of the total supply of AAB is destroyed.
To give an idea of what this implies:
AAX currently ranks 39th on contractmarketcap.com, between ErisX (51st) and Bakkt (36th). If we take the top 10 crypto derivatives exchanges by daily trade volume, we can see that daily volumes range between $1bn and $11.5bn on average.
Even if AAX were to secure a place at the lower end of the top 10, generating between $1bn to $3.5bn a day, with maker and taker fees averaging out to 0.05%, AAX’s buybacks and coinburns would still mean the destruction of $250k to $875k worth of AAB per day .
With AAX, we expect to generate $500m daily trade volumes by the end of 2020, break into the top 10 in 2021, with an average volume of $1.5bn , and then onwards to $4.5bn in 2022. There is no doubt that AAX’s daily buyburns will stimulate significant price action and present token holders with an opportunity to grow with AAX.
Spreading Wealth
Out of a total of 50 million AAB, we will gradually be distributing AAB as follows:
Public Offering
The initial listing price is 1 USDT per AAB. Out of a total of 50 million, 10 million AAB will be made available for sale in a series of four rounds according to the following schedule:
In the 1st round:
In the 2nd round:
In the 3rd round:
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