Atomic Asset Exchange, a New Crypto Trading Platform, Is Launching its Native Token, AAB

The Atomic Asset Exchange (AAX), a newly developed digital currency exchange that offers over-the-counter, spot, and futures trading, confirmed on March 31, 2020, that it will be introducing its native exchange token, called AAB.

AAX aims to connect crypto to the larger, traditional financial system.

The company is launching several financial products, including tokenized commodities, indices, various Bitcoin (BTC) investment and trading options, social trading programs, and security tokens.

When compared to other cryptocurrency exchange tokens such as Binance Coin (BNB), AAB is “more aggressive in terms of the monetary policy that governs it.”

The AAX team explains that it will conduct daily buybacks of the AAB token, along with regular coin burns, when the tokens are destroyed and removed from the overall circulating supply in order to drive up prices or reduce inflation. The AAB token has reportedly been funded by 100% of AAX’s “earned trading fees.”

The company claims that this will continue “until half of the total supply of 50 million AAB is destroyed.”

The AAB token may be used to get up to a 50% discount on all cryptocurrency spot and futures trades performed via the AAX platform. The utility token may also be used to gain access to  various services and facilities, trading bots, and trading signals.

AAB holders can expect better returns on lending, saving and staking products, while being able to borrow funds at affordable rates. The token gives users access to AAX’s full range of financial products and services.

10 million AAB, which is 20% of the total supply of the token, will be offered via a public sale.

AAX’s management noted that they’ll be listing PGX as the first “commodity financed token,” which aims to offer an alternative for traders interested in gaining exposure to the price of gold.

The token may be used to fund mining operations. It’s expected “to print a yield curve as it moves towards the spot price of gold,” according to a release.

As mentioned in the announcement:

“PGX provides an avenue for both institutional and retail investors to engage in an area of investment, otherwise only exclusive to private bankers. [It allows] local communities to directly invest in a resource industry, from which they may otherwise have been excluded.”

Thor Chan, CEO at AAX, stated:

“The industry finds itself at a pivotal moment right now. Very soon, we have the Bitcoin Halvening coming up, and we see many other opportunities ahead.”

Chan added:

“We see two movements that stand at the point of convergence. On the one hand, institutional investors are increasingly getting involved in the crypto space. On the other hand, digital asset innovation is making traditional asset classes more accessible to the mainstream. AAX is confident that the crypto industry has the potential to grow at least a hundredfold, reaching into the trillions – and find its rightful place in global finance.”

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