I've been trading on this exchange from May and I'm very satisfied so far, especially after issuance their AT token. Here is my review.
In these days, many exchanges create their own tokens to try to provide their holders with certain benefits, such as lower fees, voting rights when listing new coins, etc. It is quite a logical step, as crypto exchanges belong to a high-income group that benefits even in the declining market by trading and listing fees for new coins. Let's say the average transaction fee is around 0.2%, then each transaction has a seller and buyer, and a total of 0.4% of a given trade is the gain for an exchange. With a total daily volume of between $10 billion and $20 billion, the exchanges earn $20-40 million in fees each day. Some exchanges have come up with the concept of creating a token and giving its owners a share of the profit generated by trading fees. In the case of the new ABCC Singapore exchange, it is 80% of the fee, which is a very competitive figure in my opinion.
The main problem of many cryptocurrencies with their intrinsic value is thus elegantly resolved. The internal value of the AT token (ABCC token) will be proportional to the earnings that the exchange generates from the fees. In addition, they have an interesting token distribution model, using the Trade-to-Mine mechanism. Unlike similar projects that have been launched in the form of ICOs, ABCC has been a fully functional exchange since April of this year, and private investors have been taking notice and investing in them.
The exchange will generate its tokens over the next two years with a deflationary model similar to Bitcoin. Halving occurs every 120 days (the first in 10 weeks) over the next two years. The reward in the tokens will be proportionally divided among traders according to the traded volume so that 40% of the total tokens (the total supply is 210 million tokens) will be distributed among traders. 10% of the tokens will be distributed to traders who have traded on the exchange since April until the June 28th Trade-to-Mine commencement date. The remaining 50% of the tokens will be distributed to private investors, the team, and a part will be used by the exchange for upcoming competitions and campaigns to get new users.
The exchange has opted for a low total supply than other exchanges. Other exchanges issued their tokens in billions, but I would say that the main difference is in the form of distribution, which is very promising for traders. The token is traded from 25th July with the initial price of $0.5. The highest price was a fortnight ago a little over $3. Due to the Bitcoin-like deflation distribution model, albeit much faster, the opportunity to acquire tokens in the early stages is tempting and exciting. Over time, the declining newly released tokens will probably be the supporting pillar for the rise in the AT token price. The most important thing, however, is that we can get the tokens for free through trading on the exchange, which has set fees at a highly competitive level of 0.1%.
Daily volume in the past few days is stable between $150 - 200 mln, there is also a period time (when Asia traders sleep) when you can get AT tokens very cheaply, thanks to low total volume. Some users complain due to bots of market markets, on the other, these bots bring enough liquidity and also pay fees, and I don't know any exchange where wouldn't be bots.
I rate this exchange 4/5 stars