Despite recent uptake, AAB is still deemed undervalued. As such, AAX team has decided to conduct AAB buybacks from the secondary market. This will be done in phases with an expected buyback size of 30% of AAB in circulation.
At the same time, AAB will be listed on popular decentralized exchange (DEX) UniSwap. The listing will be paired with USDT.
Immediately following the announcement at 6pm on 7 May, the price of AAB shot up by 30%, breaking through 0.8 USDT.
Following continuous development of the AAX platform, the AAB ecosystem has also been gradually improved and enriched. In addition to enjoying a 20% discount on transaction fees when settled with AAB, AAB holders also enjoy many benefits such as buying tokens with 50% discount, receiving random airdrops, and as a trading volume booster in trading competitions.
At the same time, AAB holders also enjoy preferential withdrawal fees and a higher percentage of referral commission rebates. Such utility will be further expanded as AAX grows.
AAX has achieved explosive business growth in the year of 2021. Local currency deposits reached a daily average of $10 million in April and is expected to grow by more than 30% each month in the future. AAX has been well-recognized and favored by users and the market.
As AAX has improved, user numbers have increased and the scale of business has exploded in many countries and regions. The number of accounts opened by VIP clients and institutional investors has nearly tripled.
In addition, AAX has recently launched an “existing user activation program”, inviting inactive users to return to AAX and experience the platform’s upgraded products and services. As of now, monthly active users on AAX platform have increased 20 times compared to January 2021.