Crypto exchange AAX is set to launch its first Summer Flash Sale for its native exchange token AAB, offering a maximum of 2000 participants a 50% change to get their tokens for free.
Following a surge in registrations, with AAX reportedly doubling its user base in just one month, the exchange is launching its AAB Summer Flash Sale. The first round takes place on Monday, 19 August, 2020 and will be followed by more rounds over the course of the month.
Each round, a total of 500 participants can purchase 1000 AAB, with a 50% chance to get their AAB for free. The purchasing price will be the average price of AAB in the 24-hour period prior to the sale.
AAB was issued on April 16th, 2020, just a month after the global Black Swan Event on the 12th of March. In little over three days, more than $9 million USD worth of AAB was sold to the public. Seeing a return of 334% for first time buyers, the coin reached its all time high of $1.67 on May 7th. In the past 30 days, AAB is up by 19% and is currently trading at $0.18.
AAB can be used to settle trading fees with a discount of up to 20%. Similar to BNB and other exchange tokens, AAB enjoys regular buybacks and coin burns. But rather than quarterly, AAB benefits from daily coinburns, funded by 100% of all futures trading fees earned by AAX. This process will continue until 50% of the total supply of AAB has been destroyed.
Find out more about the AAB Summer Flash Sale.
AAX is best known for its unique usage of the matching engine that is run by London Stock Exchange. The exchange is well-connected with the institutional space, but caters to retail audiences specifically by offering the lowest trading fees globally. The exchange lists 25+ spot pairs and perpetual contracts major crypto assets, with new listings every month. AAX has also issued its native exchange token, AAB, which raised over $9 million USD in three days. The exchange offers lucrative referral programs, competitive crypto savings products, and with support for 20+ fiat currencies has made it easy to convert cash to crypto, and back. Find out more: AAX.com