Built for aggressive price action, AAB will benefit from daily buy backs and coin burns funded by 100% of all trading fees earned by AAX on its futures markets.
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.
To give an idea of what this implies:
AAX currently ranks 39th on contractmarketcap.com, between ErisX (51st) and Bakkt (36th). If we take the top 10 crypto derivatives exchanges by daily trade volume, we can see that daily volumes range between $1 billion and $11.5 billions on average.
Even if AAX were to secure a place at the lower end of the top 10, generating between $1 billion to $3.5 billions a day, with maker and taker fees averaging out to 0.05%, AAX’s buy backs and coin burns would still mean the destruction of $250k to $875k worth of AAB per day.
With AAX, we expect to generate $500 millions daily trade volumes by the end of 2020, break into the top 10 in 2021, with an average volume of $1.5 billions, and then onwards to $4.5 billions in 2022.
There is no doubt that AAX’s daily buy burns will stimulate significant price action and present token holders with an opportunity to grow with AAX.
Please refer to AAX Whitepaper on more details information.
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