Upcoming ABCC platform token to embrace bitcoin mining

FE Online Desk | Published: July 03, 2018 13:52:35


SINGAPORE - Media OutReach - July 3, 2018 - ABCC, the world-class cryptocurrency exchange, recently announced the issuance of its platform token, ABCC Token (AT), to reward its platform members. The project guideline outlined the detailed mechanism.

 Set to be issued on 9 July 2018, AT is an ERC20 Token designed and used solely on the Ethereum platform with a fixed total supply of 210 million. Its initial price will be set at $0.4 per token. API users are excluded from the early stage trading in order to maximise the benefits for individual users.

ABCC adopts a mechanism called "Trade Contribution + Simultaneous Release" to issue its AT, i.e. 50 per cent of the total AT supply will be rewarded to users, while the remaining 50 per cent are saved for the platform, team and investors.

Out of the 50 per cent for users, 40 per cent will be used to reward users who trade on ABCC via the Trade-to-Mine (ToM) mechanism. Users will mine AT via trading activities and receive AT as rewards in proportion to their trading fee.

Inspired by Bitcoin Mining, AT mining rules follow a half-life decay pattern. There are six half-life periods in total with each period being 120 days. Within each half-life period, each "block" will be generated every six hours, while the same amount of AT will be released for each block within the same half-life period. In the first 120 days after mining activity starts, 87,500 AT within one block will be released every six hours.

-rmc//

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