ABCC crypto exchange to launch platform token

SINGAPORE, Jul 03: ABCC, a world-class cryptocurrency exchange, has recently announced the issuance of its ABCC Token (AT) to reward its platform members.

The project guideline outlined the detailed mechanism for the platform token according to a statement sent by Media OutReach.

Set to be issued on July 9, AT is an ERC20 Token designed and used solely on the Ethereum platform with a fixed total supply of 210 million.

Its initial price will be set at $0.4 per token. API users are excluded from the early stage trading in order to maximise the benefits for individual users.

ABCC adopts a mechanism called "Trade Contribution + Simultaneous Release" to issue its AT, i.e. 50 per cent of the total AT supply will be rewarded to users, while the remaining 50 per cent are saved for the platform, team and investors.

Out of the 50 per cent for users, 40 per cent will be used to reward users who trade on ABCC via the Trade-to-Mine (ToM) mechanism.

Users will mine AT via trading activities and receive AT as rewards in proportion to their trading fee.

ABCC embraces the Bitcoin mining philosophy and applies this to its AT mining rules.