ABCC, an upstart cryptocurrency exchange out of Asia has already made its impact felt on the market since launching in the first half of 2018. The company has achieved positive feedback due to its experienced team and unique technology. ABCC opened for registration on April 9th, 2018 and officially launched on April 28th, 2018.
Currently, the exchange supports dozens of blockchain assets with BTC, ETH, and USDT as base cryptocurrencies. Secure and stable, ABCC has been gaining traction and popularity with its easy to use exchange platform and a select offering of high-quality digital assets.
The web exchange interface operates logically and extremely fast for the end-user. Further, ABCC has freshly released a mobile app for both iOS and Android which include the same intuitive and advanced features as the web exchange.
Cryptocurrencies and Tokens Available
ABCC now supports a total of 47 cryptocurrencies and digital assets. The company has a goal to list high-quality tokens, with the incremental, studious listing approach allowing the team to analyze projects thoroughly before listing.
Below are the tokens supported (in order of listing date):
BTC, LTC, ETH, USDT, AT, QTUM, BCH, EOS, XRP, DASH, OMG, WICC, ETC, ZRX, FUN, CVC, GNT, BAT, LEND, REP, SOC, CND, DPY, XMX, EDG, GNO, RTE, CNN, YEE, TTU, ICX, ADA, ELF, SNT, IOST, MCO, NPXS, KNC, ENG, BNT, POWR, SALT, STORJ, KEY, DNT, XLM, HOT.
ABCC charges a 0.1% trading fee for each transaction (per side).
ABCC uses BTC, ETH, and USDT as the base currency (ABCC’s AT token will be added in the future). The exchange charges 0.1% of trading volume as the trading fee. Trading fees are charged in the base currency.
Example trade for an LTC/BTC trade, both sides trade 1 BTC worth of LTC:
- Buyer buys LTC for BTC and pays 1.001 BTC. ABCC charges a 0.001 BTC trading fee while the buyer receives 1 BTC worth of LTC;
- Seller sells LTC for BTC and pays 1 BTC worth of LTC. ABCC charges a 0.001 BTC trading fee while seller receives 0.999 BTC;
- ABCC charges 0.1% of trading volume as a trading fee per side, equaling a total fee of 0.002 BTC.
ABCC Token (AT)
The company can be considered one of the new breeds of exchanges that launched in 2018 which also includes a native token, which providers member benefits. In the case of ABCC, its ABCC Token (AT) is an ERC20 token with a total supply fixed at 210 million without any future offering.
Members who hold AT are entitled to receive various benefits including but not limited to:
- Using AT for various products and services on ABCC. For example, members can purchase other digital assets, pay transaction fees and gain preferential access to premium services with AT.
- Participating in various activities and campaigns on ABCC. ABCC will reward members who meet certain criteria. For example, members holding AT will share in 80% of trading commissions collected by ABCC.
- Participating in various activities such as community building, the interaction between members and ABCC, proposing suggestions to ABCC and others.
Token Supervision and Details
Below you can find the AT token lockup times and smart contract address:
AT Smart Contract Address: https://etherscan.io/token/0xbf8fb919a8bbf28e590852aef2d284494ebc0657
AT Lock-up Address for Investors: 0xEC0A3ea4b1e5e93B00413Cb719bADC853Dac0Ad4
AT Lock-up Address for the Team:0x41aD7B6BdaC7a4ea3EDd5baA0f51c8A0637Af4Bf
20% of the total supply of AT (210 million) have been allocated and will be released to the ABCC team. These AT will be subject to a lock-up period of three years, during which time the tokens will be unlocked gradually. 1/6 of AT allocated to the ABCC team will be unlocked six months after mining starts. Another 1/12 will be unlocked three months thereafter, and so on until all the AT allocated to the ABCC team have been unlocked.
10% of the total supply of AT have been allocated and will be released to ABCC investors. These AT will be subject to a lock-up period of two years, during which time the tokens will be unlocked gradually, with the first batch to be unlocked six months after mining starts, and thereafter once every three months until all the AT allocated to ABCC investors have been unlocked.
Founder & Team
ABCC Founder Calvin Cheng (right) discussing cryptocurrency with Gibraltar Chief Minister, Fabian Picardo (left)
ABCC Exchange 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.
Moreover, ABCC is proud to have several veterans in legal, financial services, blockchain, and other technologies act as advisors for its strategic development.
Some of the company’s key advisors include:
- Dr. Michael Frendo, former Speaker of the Parliament of Malta and Minister of Foreign Affairs of Malta, who has taken an active role in EU Constitutional development and was a signatory to the Draft Constitutional Treaty of the European Convention;
- Mr. Weixing Chen, the founder of Kuaidi Dache, Chairman of the Board at Funcity Holding, experienced investor in blockchain technology;
- Mr. Zhang Lei, a successful serial entrepreneur who has launched three successful products with each serving over 100 million users;
- Mr. Forrest Chen, founder of Umeng (acquired by Alibaba for $70 million in 2013) an expert in technology and strategy.
As detailed by ABCC, the next major milestone on their initial roadmap will be the introduction of ABCC Pro, an enhanced asset trading platform. The upcoming ABCC Pro is set to launch in early 2019, it will feature responsive technology across devices including PC, tablet and mobile.
ABCC Pro will present an enhanced trading view that separates information display and function areas with easier navigation. Additionally, new tools for ABCC users such as stop loss and stop gains will be integrated to help users better manage orders and risk. More details on the new ABCC Pro will be made available closer to the launch date.
ABCC Community and Where to Follow