A letter to all our users and supporters on our new direction
It is never easy running an exchange. In the Crypto space, weeks can feel like months and every player in the industry has to constantly adapt to the changing times. ABCC Exchange is no different.
In these past few months, we have been working on the revamp of our exchange to become the best exchange to meet your trading needs. Hence the past few months of relative inactivity on our end.
This revamp includes but are not limited to changes in the strategy, team, and focus on our regulatory efforts. Instead of competing directly with the biggest exchanges in the market, we have decided to focus on a niche offering.
Following the expansion of our Singapore team, our team is now complete and we are ready to bring the exchange forward in a new direction in the areas of new product offerings, new markets and our efforts to comply with regulation.
After taking into account feedback and suggestions from all of you, these are our next steps forward that we want to share with you. Read on to learn of the next steps you can expect from us.
AT Buy Back and Burn
Many of you have asked about the future of the AT token.
While we have multiple plans for AT that are in the pipeline, these plans require a significant amount of time and effort to come to fruition.
To protect the interest of our investors, we are planning an AT buyback and burn with full details to be shared with you eventually. Please stay tuned for the update.
Focusing Liquidity On Key Trading Pairs
While we are always looking to list outstanding projects for you to trade, unfortunately not every token has performed up to expectations.
Over the next month or two, we will be delisting tokens that have poor liquidity on our exchange to provide you with a better trading experience.
For projects that continue to be listed on our platform, we will be working with them and market-makers on various aspects of liquidity, such as the depth (at least $30k USD) and spread of our order books (minimum of 0.1%).
This will ensure the price stability of any tokens you trade on ABCC, giving you the closest price to market value.
In addition, we will be more stringent with our listing process to ensure that future listings are of a higher quality. While this means that there will be fewer tokens to trade, it also means that the projects we partner with have stronger fundamentals.
Zero Fee API Trading
API trading can incur significant costs- If you are a regular API trader you will know this.
To tackle this issue we have recently introduced the ABCC Zero Fee API Trading program, where you can choose to have zero fees for either Maker OR Taker fees.
Depending on your choice, you will incur a cost of only 0.1%for either maker or taker fees. For more details regarding this program, please read this blog post.
The launch of this program will enhance the liquidity of our key trading pairs, giving you a better user experience.
We are still open for application- apply now so as not to miss out!
Stopping of AT Dividends
In line with the AT buyback and burn, we will stop distribution of AT dividends immediately. This is to focus all our efforts and resources on other campaigns that will bring more value to you (more to be shared below)
Not to worry as the AT buyback will happen after the stoppage of AT dividends, protecting your interest as the investor.
With the plans in place for AT, the intrinsic value of AT will be boosted and you will receive the same if not more rewards by taking part in the other initiatives that will be launched.
Opening Of Fiat Pairs
As part of our efforts to become a one-stop Crypto solution for both new and active traders, we are currently in discussions with a few potential partners that can provide Fiat-Crypto solutions.
Due to the strict regulatory nature of this product offering, we will only work with partners that are licensed and have a reputation as a reliable service provider.
We are currently focused on serving the institutions and high net-worth individuals market before moving to serve the retail investors.
Partnership With Blockchain Companies
We have secured and are in the midst of securing partnerships with companies in the Blockchain field.
One such partnership will be with Mars Blockchain, a company that offers a suite of services related to Blockchain Technology, such as Mars Walletand Mars Media.
With offices in Singapore, Taiwan, Hong Kong and Shenzhen, Mars Blockchain has a strong presence in Asia.
This partnership will give ABCC Exchange more media exposure in the Asia market as well as expand our user base in this region.
Please stay tuned for more developments regarding the partnership area.
ABCC- Towards The Future
All in all, ABCC Exchange is moving towards focusing on quality over quantity.
While the number of trading pairs available to trade will be reduced, current and new trading pairs will have improved liquidity and you can expect projects to have stronger fundamentals.
It is no secret that the exchange business is currently a red ocean, with the big players dominating the mainstream market.
Following the completion of our team and setting of our niche positioning in this crowded market, we are ready to take ABCC Exchange to the next level.
Thank you for your continuous support as we grow in the Blockchain and Cryptocurrency space.