Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

AAX Exchange Announces Mass Buyback of AAB

CryptocurrencyMay 10, 2021 04:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
AAX Exchange Announces Mass Buyback of AAB

  • AAX has just announced its plans for a vast token buyback program on AAB.
  • AAB will also be listed on SushiSwap to increase liquidity and access.
  • The number of active users on AAX has increased 20-fold since January 2021.

AAX Exchange, powered by the LSEG Millenium matching engine, has just announced its plans to execute a vast token buyback program of AAB, the exchange’s utility token.

The buyback will take place in several different phases. In that sense, they expect only 30% of AAB circulating, equal to 2.25 million tokens, currently with $1.46 million. Along with that, SushiSwap will also list AAB in a trading pair with USDT. This will give holders liquidity and expand AAB’s availability.

Notably, AAX exchange recorded tremendous growth in 2021. Its local deposits reached a daily average of $10 million in April. Now just this, but they expect to post 30% month-over-month growth in the future. In line with that, the number of accounts opened by VIP clients has tripled. Also, the number of monthly active users increased 20-fold since January 2021. This was partly due to a successful campaign to entice inactive users into experiencing the exchange’s upgraded products.

About this, CEO of AAX Thor Chan stated, “Despite its very strong recent uptake, we believe AAB is still deeply undervalued compared to its utility and the AAX exchange’s results.” He further added, “We decided to take a page out of Wall Street – with their constant stock buyback announcements – and conduct a token buyback directly from the secondary market, which we think will send a very strong signal of strength.”

AAX includes useful integrations with the AAB token. Most importantly, this includes its 20% discount when paying trading fees with it. Other than that, holding AAB also makes users eligible to buy tokens with a 50% discount, receive spontaneous airdrops and benefit from a trading volume booster during trading competitions. To add further, AAB holders enjoy preferential withdrawal fees and a high percentage of referral commission debates. As the deep-liquidity crypto exchange grows, it will add more uses.

This article was first published on coinquora.com

Continue reading on CoinQuora

AAX Exchange Announces Mass Buyback of AAB
 

Related Articles

Litecoin Falls 10% In Selloff
Litecoin Falls 10% In Selloff By Investing.com - Dec 06, 2021

Investing.com - Litecoin was trading at $143.500 by 04:34 (09:34 GMT) on the Investing.com Index on Monday, down 10.42% on the day. It was the largest one-day percentage loss since...

Litecoin Falls 10% In Rout
Litecoin Falls 10% In Rout By Investing.com - Dec 06, 2021

Investing.com - Litecoin was trading at $144.100 by 04:32 (09:32 GMT) on the Investing.com Index on Monday, down 10.05% on the day. It was the largest one-day percentage loss since...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email