ABCC Digital Asset Exchange will issue ABCC Token (AT) on July 9th 2018 (UTC+8) as part of our User Incentive Plan. 1. What is ABCC Token? ABCC Token (AT) is an ERC20 Token to be issued by ABCC Digital Asset Exchange. The total supply of AT is fixed at 210 million without any future offering. 2. Benefits of AT AT is a blockchain-based token native to ABCC Digital Asset Exchange. Members holding AT will be able to get access to a wide range of benefits including but not limited to— Using AT for various products and services on ABCC. For example, members can purchase other digital assets, pay transaction fees and gain preferential access to premium services with AT. Participating in various activities and campaigns on ABCC. ABCC will reward members who meet certain criteria. For example, members holding AT will share in 80% of trading commissions collected by ABCC. Participating in various activities such as community building, interaction between members and ABCC, proposing suggestions to ABCC and others. 3. Initial Allocation Below is a breakdown of the initial allocation of AT. 4. Issuance We will adopt a mechanism called “Trade Contribution + Simultaneous Release” to issue AT. 4.1 Trade Contribution In order to encourage our users to trade on ABCC, we have decided to reward our members with 50% of the total supply of AT. Of the 50% rewarded to users, 4/5 (i.e. 40% of the total supply) will be used to reward members who trade on our exchange platform via the “Trade-to-Mine” (ToM) mechanism. The other 1/5 (i.e. 10% of the total supply) will be granted to users who traded prior to the issuance of AT. 4.1.1 Trade-to-Mine (ToM) 40% of the total supply of AT will be used to reward members who trade on our exchange platform via the “Trade-to-Mine” (ToM) mechanism. Drawing inspirations from the Bitcoin mining model, we have adopted a similar inflation model for AT. In particular, the ToM mechanism includes two steps, i.e., “release” and “distribution”. Release The release of AT follows a half-life decay pattern. There are 6 half-life periods in total with each period being 120 days (roughly 4 months). We will release half of the total supply of AT in the first 120 days. The number of AT to be released in the following half-life period will be halved, and so on. Please see details of AT release schedule below. Within each half-life period, one “block” will be generated every 6 hours. The same number of AT will be released for every block inside the same half-life period. For example, the number of AT to be released for one block in the 1st half-life period is calculated as follows. The total number of AT in the 1st half-life period: 42,000,000; The number of days in the 1st half-life period: 120 days; One block will be generated every 6 hours; The number of blocks to be generated every day: 24 hours / 6 hours = 4; Therefore, the number of AT to be released for one block in the 1st half-life period: 42,000,000/120 / (24 hours / 6 hours) = 87,500. Distribution We will distribute AT released in a block to members per the percentage of their trading fees within that block. If it so happens that there are no members eligible for the rewards in a certain block, the released AT assigned to this block will be distributed in the next block. 4.1.2 Reward for Historical Trades 10% of the total supply of AT will be used to reward eligible existing users. We will distribute the rewards to the eligible users based on their cumulative trade volume contribution ending 24:00 June 27th, 2018 (UTC+8). The rewards will be frozen for 180 days after the launch of AT. 4.2 Simultaneous Release AT will be released to the platform, team and investors in proportion to the number of AT released and distributed to members via Trade-to-Mine (ToM). The number of AT released via Simultaneous Release = the number of AT released and distributed via ToM * (50% / 40%).
BITKAN as an App serving cryptocurrency users and integrating market, information, mining monitoring and wallet, it provides four language versions, namely Chinese, English, Russian and Japanese. Now it has more than 5 million users from 170 countries around the world. BITKAN provides quotations and candlestick charts of more than 2,200 kinds of cryptocurrencies from more than 50 major cryptocurrency exchanges around the world. It has achieved News cooperation with more than 70 international media. The daily news updates are over 300, and the daily reads of the News section are over 500 thousand. BITKAN provides wallet services for digital asset transfer, such as BTC, BCH, DASH, ETH, SAFE, and it has provided stable and secure wallet service for the assets of 170,000 users. The team will launch the first blockchain-concentrated community around the blockchain industry based on the BITKAN platform: K Site. The community will encourage users to produce high-quality contents, and users can get profits in the form of cryptocurrencies by publishing high-quality contents. The communities created by users in the community will be presented in the form of 'K Site'. The creators can set up the 'K Site' to pay for admission or join for free. By composing high-quality contents, it can attract other users to join in and form their own 'K Sites'. Users having joined in can read the contents of the 'circle' or post their own content in the 'circle'. On the other hand, users can also set a certain content for paid reading, the more people who read, the greater the income. Users can also reward the content to encourage the author to continue to compose more and better content. KAN will be used to pay for the platform services of BITKAN. If a user keeps sufficient amount of KAN will enjoy a certain percentage discount for service fees, and service fees will be deducted from KAN. The main project team comes from BITKAN, which currently provides price monitoring, news and information, mining monitoring, wallet and other services for cryptocurrencies. Users can store cryptocurrencies simply, conveniently and safely through the BITKAN app. At the same time, they can check the market price of cryptocurrencies of major exchanges in real time, get timely and fresh industry information at home and abroad, and set up price reminders by BITKAN app. And it has real-time mining monitoring, which allows you to master the running condition of the mining machine whenever and wherever possible. The token is called 'KAN'. A strict limit of 10 billion KAN will be issued, and will never be increased. KAN will be issued according to the Ethereum ERC 20 standard. KAN's profit comes mainly from the payment fees, exchange fees and membership service fees from the BITKAN platform. BITKAN is already online. The team is currently developing the 'K Site' feature which is a decentralized crytocurrency-concentrated & content payment community. KAN will be online as the same time as the 'K Site' feature, which is scheduled in May 2018.