In its recent announcement, cryptocurrency exchange, ABCC announced that it plans to issue its native token, the ABCC token (AT). ABCC intends to issue the token on July 9th, 2018. The ABCC token is an ERC20 token that is issued on the Ethereum blockchain. It has a fixed total supply of 210 million. The initial price of this token is likely to be set at USD $0.4 per token. In order to maximize benefits for individual users, ABCC said that it will exclude API users from early stage trading.
To issue AT, ABCC plans to adopt a new mechanism known as Trade Contribution + Simultaneous Release. This means that 50% of the entire AT supply will be offered to users, while the remaining 50% will be saved for the team, investors, and the platform. Out of the stipulated 50% that is meant for users, 40% will be utilized to reward those users who trade on ABCC using the Trade to Trade mechanism.
On the lines of Bitcoin mining, the AT mining rules will also follow a half-line decay pattern. Of the six half-life periods, each period will be of 120 days. Also, within each half-life period, every six hours a block will be generated. The same amount of AT will be released for each block within the same half-life period. After the mining activity commences, in the first 120 days, every six hours 87,500 AT will be released within one block.
Crypto Ninjas reported that in line with the industry norms, AT intends to start trading on the crypto exchange two to three weeks post the mining activation, in order to stabilize the price and avoid manipulation. ABCC also launched its referral program last week. All users participating in the referral program will earn additional rewards. The ABCC team feels that AT has a bright potential in the cryptocurrency exchange market, but it still has a long way to go.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]