- Founded by the former OKEx COO, Andy Cheung, ACDX is the world’s first crypto derivatives exchange to offer structured products
- The exchange’s governance token ACXT, which grants holders rights to help govern ACDX, is now open to the public for sale
- Like many DeFi governance tokens, ACXT offers a “liquidity farming” program which allows order makers to earn the tokens by providing liquidity
ACDX, a global cryptocurrency derivatives exchange, announces the launch of the public token sale of its exchange governance token, ACXT. At the same time, the cryptocurrency trading platform moves from beta version to an official public release with new innovations such as futures spread trading and TECH100 futures trading.
The token launch of the exchange governance token will commence on 24th November 2020 and adopt a fair lottery format. ACDX users can subscribe and purchase the token ACXT at the price of $3.
Founded earlier this year, ACDX is led by the former OKEx COO, Andy Cheung. The exchange has already closed $10M investment rounds which were largely driven by community – without participation of large venture capital firms.
“Community is the key to a successful crypto trading platform. You have to listen to your users, your community, but not big VC firms who are trying to take control. We’re building towards a decentralized financial world. A new model must be adapted,” says Andy Cheung, founder and executive chairman of ACDX.
The founder explains that the exchange token ACXT is also structured to confer the community to influence decisions and help shape the future of the exchange.
“We adopted a 50/50 governance model with our token. ACDX is somewhere between a centralized and decentralized platform, 50% governed by the community and 50% by the team. With our governance token, ACXT, you are empowered to influence the development of our exchange and shape ACDX’s future.”
Token holders will get to vote on several matters such as fee rates, token burn rate, listings, hard fork handling, etc. To ensure deep liquidity in the order books of the exchange, liquidity providers would be rewarded with ACXT for placing orders (order makers).
In the white paper, ACDX also reveals its roadmap of launching the world’s first crypto structured product in Q4 2020. Cheung explains that the new trading product CBBC is already in testing stage. Comparing to perpetual futures, CBBC is more transparent and user-friendly because of clear liquidation levels and easy management.
“CBBC is an extremely popular trading product in Asian traditional markets. There are a large number of traditional market players who wants to enter the crypto space. ACDX’s innovations will bridge the two markets and accelerate the adoption of cryptocurrency,” says the founder.
About ACDX
Founded by the former OKEx executive, Andy Cheung, ACDX offers a next-generation cryptocurrency derivatives trading platform with cryptocurrency structured products that the industry has not yet seen. The exchange is focused on true innovation across a wide range of easy-to-use, fair, and transparent trading products that suit the needs of current and emerging cryptocurrency traders.
