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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