AAX Token (AAB) FAQ – AAX Help Center

What is AAB?

AAB is AAX’s native platform token. On a mission to connect crypto to global finance, AAX is introducing a series of innovative financial instruments such as tokenized commodities, indices, Bitcoin dimension products, social trading programs, and security tokens. AAB enables traders to engage these novel instruments and to share in the growth of the exchange.

A total of 50 million AAB was issued using ERC-20 protocol, you can find the smart contract from Etherscan here.

Please refer to the AAB utility for more details.

How do I buy AAB?

You can buy AAB on here. For details of public offering, please refer to How to purchase AAB.

Who can buy AAB?

The jurisdictional requirements for buying AAB are the same as those for trading on AAX. In addition, users must complete the identity verification process on AAX before purchasing AAB.

What is AAB’s total supply?

There are a total of 50,000,000 AAB tokens, and no more will be created. The total 50 millions of AAB will be distributed over 5 years.

AAX will use 100% of the trading fees earned by AAX on its futures markets to buyback and burn the tokens on a daily basis.

Any AAB bought back from the market will be permanently destroyed and auditable on the blockchain. This process will continue until 50% of the total supply of AAB is destroyed.

When does AAB unlock?

10 million AAB tokens bought by users will be unlocked as liquidity allows. For more details, please refer to AAB Unlock Schedules. After the completion of the lockup period, the purchased amount of AAB will be gradually unlocked, at a rate of 5% per day, over the course of 20 days.

What Utility does AAB have?

Multi-tiered discount scheme

AAB is the primary currency for settling up to 100% of all trading fees on AAX;

Baseline Discount: Trading fees settled in AAB are discounted at 20%.
Portfolio Discount: For any percentage of a client’s portfolio allocated to AAB, a corresponding percentage is added to the client’s overall discount, up to a maximum discount of 50%.
Clients can opt out of using AAB to settle their trading fees.

Opting out means forfeiting the ‘Baseline Discount’;
Clients can still enjoy the ‘Portfolio Discount’ up to a maximum of 50%.

Optimised Wealth Management

AAB will be used to drive promotions across lending, borrowing, and other features.

Lending: Adding 10% of AAB on top of the total loan collateral, will be rewarded with 1% extra interest on the total loan collateral.
Borrowing: Clients who opt in to pay interest on loans with AAB will enjoy a 20% discount.

Platform Upgrades

Clients can use AAB to unlock special features and tools to optimize the trading experience;
Use AAB to unlock trading bots and trading signals
AAB can be used to gain access to exclusive services and facilities, including increased API access rates, and FIX connectivity.
Clients who hold more than 100,000 USD worth of AAB can enjoy:

higher withdrawal and internal transfer limits;
early notifications around product upgrades, events, and promotions;
Discounted custody services

Pioneer Program

AAB can be used to purchase social trading subscriptions to copytrade high-performing traders, as well as low-performing that can be copied in the reverse, with leverage;
AAB is the only trading fee payment currency for engaging unique financial instruments, including index derivatives, a selection of tokenized commodities, and security tokens.