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AAX Trends

AMA Session with AAX Deputy COO David

AMA Session with AAX Deputy COO David

News & Insights

01 Mar 2022

In order to give everyone a clearer understanding of AAX's achievements in the past 6 months, we specially invited the Deputy COO of AAX David to share with you the latest updates on AAX.

Host: Greetings, dear users. In order to give everyone a clearer understanding of AAX's achievements in the past 6 months, we specially invited the Deputy COO of AAX David to share with you the latest updates on AAX. I believe everyone will have a better understanding of AAX after David's sharing.

So let's say hello to our Deputy COO David now!

David: Hello, everyone! I am David, deputy COO of AAX. Currently, I’m responsible for AAX's operations, customer service support, and coin listing. Thank you very much for your long-term support of AAX, I am glad to be able to communicate virtually with you in this manner today.

Host: I believe that users who have grown to love AAX will be interested in the topic that David is going to share today, so let's get straight to the point now.

David: OK. First of all, let me briefly summarize AAX's achievements in the past 6 months with you. Q3 of 2021 was a game-changer for us. At AAX, we experienced twice as much growth in Q3 as we did in Q2 of 2021. This made us motivated to achieve even greater things in 2022. I can safely say that up to that, it’s going well. In the span of 6 months, our exchange has grown six-fold and we are only yet in Q1 of 2021.

Host: But we know that no matter how difficult it is, you will eventually succeed.David: I am trying my best. Host: We do find that AAX has grown a lot in these past 6 months, and this may be partially due to the frequency and pace of campaigns that have been hosted. For example, the 14 campaigns that were launched yesterday seem to be doing really well so far.

David: Yes they are! We also roughly counted the number of campaigns conducted by the operation team in the past 6 months. It was up to 70! So currently, on average, there are at least 10 campaigns hosted per month, with an average of 2.5 campaigns per week. This is a huge change of pace compared to before. We’ve also diversified the types of contests and campaigns on AAX to better suit the community’s needs and to maximize their returns. These types of contests differ in nature. We have thrown a dozen of campaigns where users can buy cryptocurrencies at a discounted price. We have also launched 6 savings-related activities and more than 30 coin listing campaigns and trading contests. We like to keep our community actively engaged.

Host: It seems like there are so many activities happening on AAX at the same time! I believe that the users that have participated in these contests are very happy with the rewards they have reaped so far. What are other major changes happening at AAX?

David: There are many changes happening at the moment, but there are two that are especially worth mentioning. The first major update at AAX is that we have changed our coin listing strategy. We’ve taken a more aggressive approach and listed a lot of new coins in the past 4 months.

The newly listed cryptocurrencies bring a lot of new traffic and new users to AAX, and this will surely contribute to the growth of the company. We have continued to brainstorm new and better ways to improve and enhance the trading experience of our users. In the future, we hope to adopt different strategies for coin listing. Of course, AAB will also be used in the voting process of new protocols.

As a reminder, AAB is our platform token. The second major update is that the utility around AAB has increased. If you follow AAX closely, you will find that AAB has been used more frequently in our campaigns. AAB can be used to buy other coins at discounted prices and AAB holders have exclusive privileges.

For launchpad campaigns on AAX, users who hold a certain amount of AAB in their spot account can get tickets that allow them to purchase other cryptocurrencies at half price. Our new VIP program allows AAB holders to benefit from lower rates and higher yields on the exchange. Additionally, with the new Battle function on AAX, bets placed in AAB will generate a 5% increase in earnings. AAB will also have more benefits and use case scenarios in the future, but we are still in the early stages of exploring those possibilities.

Host: Looks like AAX has been hard at work and is progressing in many aspects! Since we mentioned AAB and users in the community are very concerned about the token, can we discuss it more in detail?

David: OK. We all know that basically all major trading platforms have launched their own native tokens and that utility usually revolves around launchpads, rewards, voting rights, exclusive benefits, etc. AAB is growing its utility in these aspects as well. Slowly but surely.

In my opinion, the value of a token is largely dependent on the value of a protocol. We can also determine its value based on supply and demand. So for AAB, we need to look at the total supply, the circulating supply, the demand, and the burn rate.

The demand for AAB needs to be greater than the circulating supply of AAB, and economically speaking, this will result in an increased value for AAB. Now, the total supply of AAB is 50 million. After several burn cycles, we have completed the overall goal. The current circulating limit is only 25 million coins, which is still very small compared to the billions of coins in the industry.

Everyone can check it on Etherscan. So the total supply and the total circulation is 25 million tokens. As for demand, we have been trying to highlight AAB’s value and utility, and we hope to explore more use-case scenarios in the future to create a continuous demand for AAB.

Host: I see. And what do you think the future value of AAB will be?

David: I believe it will be great. Let’s take a look at the current market cap of the cryptocurrency market.

  • BNB: $62 billion
  • OKB: about $1.1 billion
  • HT: about $1.4 billion
  • FTT: about $5.8 billion
  • AAB: about $17.2 million

This data is derived from CoinMarketCap. Currently, the value of AAB sits at the bottom of the lot. At this moment in time, AAX is progressing and it has not yet reached the value of Binance, Huobi, and FTX. However, if you believe in the future of AAX, you will see the value in AAB. We never had a chance to buy BNB or FTT at $1, but with AAB, that chance may still be there. So it’s as simple as that. We are progressing and I have faith in AAB - 3,000 times.

Host: Thank you so much for sharing your thoughts on the value of AAB. I'm sure our listeners will all have a better understanding of AAB after this. I’ve also collected some questions from the AAX community. Will you be able to answer them?

David: OK.

Host: The first question is from Chloe. She is asking if AAX will have a real launchpad project since the current launchpad is not representative of an actual initial exchange offering (IEO).

David: Yes, there will be one. We have adjusted our listing strategy and we will focus on discovering high-quality launchpad items. More on that later.

Host: Okay. The second question comes from @Lucy_funny, who wants to know what initiatives the operation team of AAX will focus on next.

David: We will focus on growth, specifically in terms of user volume, brand influence, customer support, and outreach. We want to raise awareness and bring the benefits of crypto to a global audience through AAX. That is our main goal.

Host: We are excited to witness AAX’s growth as an exchange! The third question comes from Troll Qin, who wants to know if there were any factors that could explain the steady growth of AAB despite the downfall of the mainstream market recently.

David: Currently, along with the changes happening on the platform, AAB has risen in value. Additionally, investors have been holding AAB and the demand for the token has gone up, according to our analytics report. With the supply of AAB remaining fixed during the last 6 months, AAB’s price has benefitted as more investors are purchasing the token.

Host: Got it. The last question is from @lostlife1993. Will AAB work on improving the future service? For example, will AAX consider adding a take-profit function similar to that on Bybit's platform?

David: It will take us some time. But our developers are working hard to enhance the user experience on the platform.

Host: Thank you David for shedding some light on AAX’s operations. Let’s wrap up this interview with a final Q&A session. If you have any questions for David, please speak up. David will select three questions to answer. Those selected as part of this Q&A will also receive 20 USDT each.

Q1: Many nascent projects make lots of promises in the beginning, but fail to deliver. What sets your project apart from the rest?

David: We've actively explored utility around AAB and will continue to do so. Additionally, our exchange is growing at a steady rate, and our developers are hard at work in enhancing the user experience on the platform.

Q2: Are you a global or a local project? Currently, which market are you focused on exploring to expand your user base?

David: We are simultaneously outreaching and providing services to multiple countries, such as South Korea, Japan, Indonesia, and Russia, to name a few. Our current focus is on the Indonesian market. We already have a presence in Indonesia, but we want to keep growing and expanding our user base. Additionally, we are also exploring the growth opportunity in other regions.

Q3: During the bear market, what will happen to AAB? Do you have plans to prepare the token for a bear market? In case of a panic sell and of AAB experiencing a token dump, how will you handle it?

David: We intend to hold the price above a certain point.

Host: Thank you for your time David. Congratulations to the above users for getting their questions picked, please send me a private message with your account UID to receive your USDT rewards.

This is the end of our AMA session, thank you David for sharing, and thank you all from the bottom of our hearts for your continuous support of AAX. I believe AAX has a bright future ahead of it and I am looking forward to seeing what’s in store for it! Thanks again David, hope to hear more good news from you in the future.

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