Total Supply Of AT Tokens To Be Reduced By ABCC
Singapore: ABCC Exchange, the Cryptocurrency Exchange based in Singapore, has recently announced that it will be stopping the release of AT tokens under the Trade-to-Mine (ToM) and Simultaneous Release models. Based on the initial roadmap, the total supply of AT tokens was to be 210 million, with 40% being released under the ToM model. With this change, the total supply of AT tokens will be reduced, which is likely to increase the value of the AT token.
When asked about the change, ABCC Exchange’s CEO Calvin Cheng said “We are suspending Trade-to-Mine of AT for a clear reason: in this crypto bear market, ABCC’s priority must be to protect current AT owners. Continuing ToM will just expand AT supply in a period where there is downward pressure on all Cryptocurrencies. By suspending the mining of new ATs, ABCC can focus on building the utility of the AT and bring more value to current AT users. “
AT tokens were to be released via two tracks- Simultaneous release to the team and through the ToM model. The release of AT tokens under these two tracks will stop with this news. Under the ToM model, the AT tokens were to be released in 6 half-life cycles. Prior to this change, ToM was in its 2nd period of release. Here are some details you should take note of with this new change:
- Total number of tokens that will not be released: 64,968,759 AT (30.93% of initial total supply)
- New total supply of AT tokens will be 145,031,250 AT
- The 80% trading fees rewarded to users will still continue
This move by ABCC significantly reduces the long-term circulation of AT. This news comes on the back of a series of recent moves by ABCC Exchange announcing a partnership with Tron ahead of niTROn and consolidating all its international operations to Singapore with the passing of the Payment Services Bill in the Singapore parliament.
From now till 23 Jan 2019, ABCC Exchange is offering 90% OFF trading fees for selected pairs. For more information on which trading pairs, read their announcement here. To start trading now, click here.
About ABCC Exchange: ABCC is a cryptocurrency exchange headquartered in Singapore, with subsidiaries in Malta and Gibraltar. Launched less than a year ago, it has a daily trading volume of USD$35 million and 105 trading pairs in total. Headed by Calvin Cheng, the team has a wealth of prior experience in investment banks and FinTech firms, providing ABCC users with a secure and seamless trading experience.
Xini Wei (Head, Global Marketing and Communications)
Phone: +65 9866 7479
Email: [email protected]
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
This author could be anybody, but he/she is not a member of staff coingape.com and opinions in the article are solely of the guest writer and do not reflect Coingape’s view.