AAB is the native token of the AAX platform that gives traders exclusive utility. In this article, we explore the AAB token and how to invest in it.
What is AAB?
AAB is a token that was created by AAX in 2020. It is an ERC20 token issued on the Ethereum blockchain with a total supply of 50 million coins.
AAB is a native exchange token. This means that the token’s primary use case is to provide users with exclusive functionalities and allow them to be part of the platforms’ growth.
You can use AAB to pay for fees on AAX at a discount, get better lending and borrowing rates on AAX, and unlock special trading tools, signals, and bots.
The circulating supply of AAB is reduced through coin burns. This refers to a process where coins are permanently removed from circulation. AAX plans to remove 50% of the total AAX supply through coin burning. This process is funded by 100% of all revenue earned by AAX on its futures markets.
Tip: Coins are burnt every single day and you can keep track of this here: aab.aax.com
AAB grows hand in hand with the AAX platform. As volumes increase on the exchange, and more products are offered, AAB sees more adoption and demand.
More traders will purchase AAB to get discounts on transaction fees, and some will buy AAB for savings. This adoption effect, combined with more coin burns, makes AAB a good long-term prospect.
How To Buy in AAB
Buying AAB on AAX is simple. Anyone with an account on AAX can purchase AAB. In this example, we will purchase AAB with USDT.
Go to the Spot trading dashboard and select the AAB/USDT trading pair. Enter the amount of AAB you want to buy at the bottom right side of the trading panel. Click on the ‘Buy AAB’ to make your purchase.
Your wallet will be loaded with AAB tokens as soon as your buy order fills.
Trade with AAX
AAX is the world’s first digital asset exchange to be powered by LSEG Technology. Offering OTC, spot, and futures, it provides a highly secure, deeply liquid and ultra-low latency trading environment; and a meeting point between crypto and global finance.
Open an account with AAX, or download the app, and experience the next generation crypto exchange.