Launched in November 2019, AAX is the world’s first cryptocurrency exchange to be powered by LSEG Technology’s Millennium Exchange - the same matching engine that powers London Stock Exchange. It is also the first of its kind to have joined London Stock Exchange Group’s (LSEG) Partner Platform. Catering to retail and institutional investors, we operate spot, futures and over-the-counter markets across 50+ crypto spot pairs, derivatives, and fiat-to-crypto on and off ramps.

This year, 2020, we are launching AAX’s native exchange token AAB - built to serve as a bridge between crypto and global finance. To attract more capital into the digital asset world, we will roll out a set of unique financial instruments, and expand on tokenized commodities, perpetual contracts, options, indices, altcoins and security tokens.

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Multi-tiered Discount Scheme
AAB is the primary currency for settling up to 100% of all trading fees on AAX.

• Baseline Discount
  Trading fees settled in AAB are discounted at 20%
• Porfolio Discount
  For any percentage of a client’s portfolio allocated to AAB, a corresponding percentage is added to the client’s overall discount, up to a maximum discount of 50%
• Clients can opt out of using AAB to settle their trading fees
  i. Opting out means forfeiting the ‘Baseline Discount’
  ii. Clients can still enjoy the ‘Portfolio Discount’ up to a maximum of 50%

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Optimized Wealth Management
AAB will be used to drive promotions across lending, borrowing, and other features.

• Lending
  Adding 10% of AAB on top of the total loan collateral, will be rewarded with 1% extra interest on the total loan collateral.
• Borrowing
  Clients who opt in to pay interest on loans with AAB will enjoy a 20% discount

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Platform Upgrades

• Clients can use AAB to unlock special features and tools to optimize the trading experience
• Use AAB to unlock trading bots and trading signals
• AAB can be used to gain access to exclusive services and facilities, including increased API access rates, and FIX connectivity
• Clients who hold more than 100,000 USD worth of AAB can enjoy
  i. Higher withdrawal and internal transfer limits
  ii. Early notifications around product upgrades, events, and promotions
  iii. Discounted custody services

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Pioneer Program

• AAB can be used to purchase social trading subscriptions to copytrade high-performing traders, as well as low-performing that can be copied in the reverse, with leverage
• AAB is the only trading fee payment currency for engaging unique financial instruments, including index derivatives, a selection of tokenized commodities, and security tokens.

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Daily Coinburns

Built for aggressive price action, AAB will benefit from daily buybacks and coinburns funded by 100% of all trading fees earned by AAX on its futures markets. Any AAB bought back from the market will be permanently destroyed and auditable on the blockchain.
This process will continue until 50% of the total supply of AAB is destroyed.

To give an idea of what this implies:

AAX currently ranks 39th on contractmarketcap.com, between ErisX (51st) and Bakkt (36th). If we take the top 10 crypto derivatives exchanges by daily trade volume, we can see that daily volumes range between $1bn and $11.5bn on average.

Even if AAX were to secure a place at the lower end of the top 10, generating between $1bn to $3.5bn a day, with maker and taker fees averaging out to 0.05%, AAX’s buybacks and coinburns would still mean the destruction of $250k to $875k worth of AAB per day.

With AAX, we expect to generate $500m daily trade volumes by the end of 2020, break into the top 10 in 2021, with an average volume of $1.5bn, and then onwards to $4.5bn in 2022. There is no doubt that AAX’s daily buyburns will stimulate significant price action and present token holders with an opportunity to grow with AAX.