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Upcoming ABCC Platform Token To Embrace Bitcoin Mining Philosophy, Business News

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SINGAPORE – Media OutReach

 – July 3, 2018 – ABCC, the world-class cryptocurrency
exchange, recently announced the issuance of its platform token,
ABCC Token (AT), to reward its platform members. The project
guideline outlined the detailed mechanism.

Set to be issued on 9 July 2018, AT is an ERC20 Token designed and
used solely on the Ethereum platform with a fixed total supply of
210 million. Its initial price will be set at $0.4 per token. API
users are excluded from the early stage trading in order to
maximise the benefits for individual users.

Trade-to-Mine

ABCC adopts a mechanism called “Trade Contribution + Simultaneous
Release” to issue its AT, i.e. 50% of the total AT supply will be
rewarded to users, while the remaining 50% are saved for the
platform, team and investors. Out of the 50% for users, 40% will be
used to reward users who trade on ABCC via the Trade-to-Mine (ToM)
mechanism. Users will mine AT via trading activities and receive AT
as rewards in proportion to their trading fee.

AT Release and Trading

Inspired by Bitcoin Mining, AT mining rules follow a half-life
decay pattern. There are six half-life periods in total with each
period being 120 days. Within each half-life period, each “block”
will be generated every six hours, while the same amount of AT will
be released for each block within the same half-life period. In the
first 120 days after mining activity starts, 87,500 AT within one
block will be released every six hours.

Following common practices of the financial industry, AT will start
trading on the platform two to three weeks after the mining
activation, when its circulation reaches 5-8% of the total supply
to stabilise price and avoid manipulation. 

Mining Referral Program

ABCC has launched its Referral Program

a week ago. It will be upgraded to Mining Referral Program after
mining activation. All users who participate in the Mining Referral
Program will enjoy additional rewards as follows:

  • Earn 20% of rewards received by invited friends who ToM on ABCC;
  • Earn 10% of rewards received by friends of friends who ToM on ABCC;
  • Friends who have been invited will receive extra 10% rewards when
    they ToM on ABCC.

ABCC embraces the Bitcoin mining philosophy and applies this to its
AT mining rules. Taking into consideration that Binance Coin was
issued at $0.1553 and valued at $14.16 at the time of writing, AT
has a long but bright way to go.

In the lead up to the AT issuance, ABCC is recruiting 2,000 Genesis
Miners who will enjoy exclusive rights to mine the first few blocks
when ToM starts. Registration is still open via http://t.cn/RBFed5S

ABCC is founded by Calvin Cheng, a technology and media magnate,
and other co-founders with a broad range of experience and track
record in Internet, financial services, and management consulting.
Its advisor team includes Dr. Michael Frendo, Former Minister of
Foreign Affairs of Malta, Zhang Lei, the CEO of Yee and YeeCall,
Forrest Chen,  CEO & founder of NewsDog, and Weixing Chen,
Chairman of the Board at Funcity Holding and Funcity Capital,
founder of Kuaidi Dache.

Read more about AT: https://abcc.com/about_at

For more information, visit ABCC’s official website at https://abcc.com/


and other official social media handles at:

Twitter: @ABCC_Exchange

Facebook: ABCC Exchange

Medium: https://medium.com/@abcc.com

Telegram:

Telegram EN: t.me/abcc_en

Telegram RU: t.me/abcc_ru

Telegram CN: t.me/abcc_cn

Telegram KO: t.me/abcc_ko

Telegram JP: t.me/abcc_jp


 

About Company

ABCC is a world-class cryptocurrency exchange, aiming to provide a
frictionless, user-centric trading experience. It embraces the
philosophy of blockchain –open, frictionless and participatory.
ABCC was founded by Calvin Cheng, a technology and media magnate,
and other co-founders with a broad range of experience and track
record at some of the most successful Internet, financial services
and management consulting firms. The advisor team includes Dr.
Michael Frendo, Former Minister of Foreign Affairs of Malta, Zhang
Lei, the CEO of Yee and YeeCall, Forrest Chen, 
CEO & founder of NewsDog, and Weixing Chen, Chairman of the
Board at Funcity Holding and Funcity Capital, founder of Kuaidi
Dache. It was also invested by Funcity Capital, Dream Seeker
Capital and BlockOrigin.



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