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AAB is not only a token but also an integral part of the AAX exchange, offering exclusive benefits to users and fueling the development of the exchange. The vision behind AAB was to create a bridge between digital assets and traditional assets, individual traders and professional traders, price takers and market makers, exchanges and their partners. Moreover, AAB will be deeply integrated with upcoming products from AAX.
We see AAB as a digital enhancer. It catalyzes additional tactility, deeper flavors, and indescribable dimensions, making everything just that much more delightful. AAB will be issued on the Ethereum blockchain as an ERC-20 token, with a total supply of 50 million tokens, each initially priced at 1 USDT.
Project Utility
Multilevel Discount Scheme
AAB, as the primary circulating currency, can be used to fully pay for all trading fees incurred on AAX.
Base Discount
Using AAB to pay trading fees entitles you to a 20% discount.
Portfolio Discount
If clients allocate a certain percentage of AAB in their portfolios, they qualify for an overall discount up to 50% corresponding to that percentage.
Clients have the option not to use AAB to pay trading fees
1. Not using AAB for fee payment means not benefiting from the "base discount".
2. Clients still enjoy up to a 50% "portfolio discount".
Platform Enhancement
Clients can use AAB to unlock special features and tools for a better trading experience;
Unlock trading bots and trading signals with AAB;
Access exclusive services and facilities, including enhanced API rates and FIX connectivity, by using AAB;
Holding over $100,000 worth of AAB entitles you to:
1. Higher withdrawal and internal transfer limits;
2. Advance notice of product upgrades, events, and promotions;
3. Discounts on custody service fees.
Optimal Wealth Management
AAB can be used for lending, borrowing, and other functions to drive promotions.
Lending
Adding 10% AAB collateral on top of loan collateral earns an extra 1% interest on the entire collateral.
Borrowing
Clients choosing to pay loan interest with AAB receive a 20% discount.
Vanguard Program
AAB can be used to purchase social trading subscriptions, enabling one-click copy trades of high-performing traders leveraged operations, avoiding the pitfalls of poor performance;
AAB is the designated currency for paying trading fees for AAXs proprietary products and serves as a gateway to using exclusive financial instruments, including index derivatives, tokenized commodities, and security tokens.
Buyback and Burn Mechanism
All trading fee income earned by AAX on its futures market will be 100% dedicated to daily buybacks and burns of AAB, benefiting the price of AAB and maintaining a positive or even upward price trend. All repurchased AAB will be permanently burned and audited on-chain. This process will continue until 50% of the total AAB supply is burned.
To illustrate this more clearly:
Currently, AAX ranks 39th on Contractmarketcap.com, between Erisx (51st) and Bakkt (36th). If we select the top ten cryptocurrency derivatives exchanges based on daily trading volume, we see average daily volumes ranging from $1 billion to $11.5 billion. Although AAX is near the bottom of the top ten, it has daily trading volumes of $1 billion to $3.5 billion, with an average fee of 0.05% for both active (maker) and passive (taker) trades, meaning AAXs daily buyback and burn value falls between $250,000 and $875,000.
By the end of 2020, AAXs daily trading volume is projected to reach $5 billion, increasing to $15 billion by 2021 and entering the top ten by volume, and reaching $45 billion by 2022. Without a doubt, AAXs daily buyback and burn will stimulate the price movement of AAB, allowing AAB holders to grow alongside AAX and share in the profits.
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