AAX, the popular Crypto Exchange has announced a Summer Flash Sale for the first time. The participants can benefit from it as AAX is offering a 50% change to a maximum of 2000 participants on the purchase of AAB tokens. AAB token is the native token of the AAX exchange.
A Surge in User Base - AAX Exchange
The exchange has seen a surge in user registrations on its trading platform. The number of users of the AAX exchange has reportedly doubled within one month. Hence, AAX has come out with the AAB Flash Summer Sale to celebrate such a drastic increase in its user base. The first round of the Flash Summer Sale is scheduled to happen on Monday, 19th August 2020. There will be more rounds later this month.
The Number Cap
AAX has capped the number of participants that can receive their purchased AAB tokens for free to a maximum of 500 per round. The minimum purchase requirement is 1000 AAB and there's a 50% chance that the participant will receive their AAB for absolutely free. The participants can purchase AAB tokens for the average price 24-hour before the day of AAB Flash Summer Sale.
Initial Token Sale
AAB token was issued just after a month of the global Black Swan Event. The day was April 16th, 2020. The token sales reached an amount of more than $9 million within three days of the issue date. All first-time buyers saw an ROI of 334% on their purchase of the AAB tokens on May 7th, 2020. The price of each AAB token stood at a high of $1.67 on this date. The current price of the AAB token is $0.18, and it is up by 19% in the past 30 days.
Benefits of AAB Tokens
The AAB token holders can use their AAB tokens to settle the trading fees on the AAX Exchange. AAX Exchange offers a discount of up to 20% to the traders paying the trading fees in AAB tokens. AAB is similar to the BNB token of the Binance and other exchange tokens. The AAB token, too, has the advantage of buybacks and coin burns like other popular exchange tokens.
Unlike other exchange tokens, the ABB tokens offer benefits of daily coinburns. On the other hand, the majority of the exchange tokens go through quarterly coinburns. The AAX exchange funds the daily coinburn through 100% of the trading fees earned by AAX through all the future trades. A daily coinburn process will continue until the time when the current supply of AAB is reduced to 50% of its total supply.