It is an undisputed fact that cryptocurrency and its underlying blockchain technology have contributed immensely to the economic and social growth of the world. The technology has been applied in so many industries, including finance, sports, healthcare, among others. Since the inception of bitcoin in 2009, there have been the launch of several alternative currencies and each of them claims to be solving real world challenges. Due to the increasing numbers of cryptocurrencies on the market, there has been a growing need for exchanges, where these digital assets can be traded. Unfortunately, most of our traditional crypto trading platforms have failed to provide the best of trading experience for its users.
One major challenge facing our traditional trading platforms is security issues. They have constantly been suffering numerous attacks from hackers, resulting in loss of huge sums of users’ funds. Even exchange giants like Binance which claims to have the best of security was hacked last year.
Another major challenge facing our traditional exchanges is scalability. The recent crypto crash, which was coupled by increased trading activity, exposed the vulnerability of most of traditional exchanges. Most of the exchanges, including giants like BitMEX, broke down. Some also had delays in executing transactions.
Liquidity has also been an issue on our traditional trading platform. In March alone, Bitfinex has delisted more than 120 trading pairs from its platform due to low liquidity.
There are several other exchanges which have closed down due to failure to comply with regulations.
The list continues on and on and this is the reason why I’m about to introduce XXA crypto exchange to you.
What Is AAX Exchange?
AAX crypto exchange is an innovative crypto exchange powered by LSEG Technology. Well, if you have not heard about LSEG Technology, it is the same technology that powers major exchanges like London Stock Exchange and Oslo Stock Exchange, among others. AAX has been a member of London Stock Exchange Group’s Partner Platform since November 28, 2019, and it is the first crypto exchange to join the platform.
Features of AAX Platform and The Solution It Offers
AAX exchange platform runs on the Millennium Exchange trading platform, with a world-class matching engine. Since this same technology is used in regulated markets where fairness and transparency is required, it gives confidence and reassurance to traders on AAX platform. The matching engine also increases the capacity and performance of the AAX platform, thereby increasing its scalability.
Security is very paramount to AAX exchange platform and that is why in designing the platform’s security architecture, AAX has partnered with Kroll, a leading security consultancy. Moreover, the platform is working towards complying with the Cryptocurrency Security Standard (CCSS), which is a recognized open-source security standard. The platform also offers insured crypto custody services with regulated entities, upon client request.
AAX is fully compliant with Know-Your-Customer (KYC) and Anti-Money Laundering regulations. Before listing any coin or product on the exchange, AAX runs background checks and screening about the team behind the project. Through this, they are able to offer users with coins that aren’t involved in any illegal market transactions, giving them access to quality listings.
Unlike other crypto exchanges, AAX would want to ensure high liquidity levels on the platform. The exchange plans to add more futures contracts and new product classes, for example, options and commodities such as gold, oil, agriculture produce, among others. The platform also offers an over-the-counter onramp service, which enables peer-to-peer trading on the platform.
About The AAB Token
Like most crypto trading platforms, AAX exchange will also issue its native token, AAB, which will fuel activities on the platform. A total of 50 million AAB tokens will be issued, out of which 10 million will be made available for sale, beginning from April 14, 2020. you can visit the tokensale website at https://aab.aax.com/en/ for more details and participation
AAB will have a lot of use cases on the platform and its value and utility will continue to grow due to exciting plans put in place by the exchange. Users can enjoy 20% discount anytime they settle trading fees in AAB. Holding AAB tokens in your portfolio also attracts corresponding percentage to your overall discount. AAB will also be used to drive promotions across lending and borrowing features on the platform. Users can also use the AAB tokens to unlock special features and tools on the platform for optimized trading experience.
As a means of ensuring scarcity to increase AAB value, the team has planned a daily buyback and coin burn after the token sale. All trading fees earned by the exchange on its BTC and USDT settled features will be used for this purpose and the process will continue until half of the total AAB supply is destroyed. Our Team The AAX team is made up of about 100 strong, experienced and dedicated members who are goal-oriented and focused on delivering high-quality products and services. With them handling funds, users can be rest assured that their monies are safe.
For more information about AAX exchange and the upcoming AAB token sale, visit the company’s…
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Tokensale Website: https://aab.aax.com/en/
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