Looking Back, Looking Forward
A 2021 review and roadmap for ACDX
No, it’s not the end of a year or a quarter or a fiscal year. But any time can be the right time to do a review, and to share a little bit more information about our future plans with our community.
Warning…it’s a long read.
What We Have Done in the Past
1. Beta Launch
On Sep 29 2020, our platform went online. ACDX is equipped with the best fundamental functionalities a derivatives exchange should provide — customizable UI, multi-asset collateral, etc., they may not seem to be the fanciest features, but they are all honest work.
These characteristics help define us as a next-generation cryptocurrency exchange, and enable you to run a lot of different trading strategies in one place, which many other first-generation exchanges out there cannot provide.
2. Futures Spread & TECH 100
We are proud to be one of the very first crypto exchanges to offer spread trading and TECH 100 trading, which enable you to have exposure to traditional assets. Our mission statement — to be innovation-driven, was affirmed once more with our continuous efforts on new product launches.
3. Liquidity Farming
A liquidity provider incentivizing model that enhances the liquidity of ACDX. The idea was derived from the yield farming model that many DeFi platforms have been adopting. This also concurs with the idea of ACXT being a community driven token — makers, the most important contributors to an exchange, are being rewarded to have a bigger influence over the exchange.
Like most crypto projects, we also offer staking for our native token, to encourage users to hold and make it conducive for the ecosystem. We take it to another level and provide as many staking platforms for your choice. In addition to staking at our own exchange, we also partnered with DefiCliq and incentivized holders to stake their tokens into the Uniswap pool to provide more liquidity.
5. Token Burn
Every quarter, we use 50% of the maker fees received to buy back ACXT from our secondary spot market and burn the tokens.
From 29th Dec 2020 to 28th Mar 2021, 354,884 ACXT was burnt from the quarterly ACXT Token Burn. In addition to the ACXT token burn of the unsold ones in the cACXT convertible sale, the total number of tokens burned was 740,696 ACXT, reducing the overall total supply to just 49,259,304 ACXT.
6. Bull Bear Strike Token
We are proud to have launched the world’s first crypto structured product — Bull Bear Strike Token (BBS).
Basically, BBS is a hybrid of perpetual futures and options trading, coming with uncapped profit potential but capped risk. It is also the lowest cost crypto derivative product available in the market.
There are now 20 tokens listed on our BBS market, including the latest trending DeFi tokens.
7. AC Ventures
AC Ventures supports blockchain startups and accelerates the development of a larger blockchain ecosystem by leveraging our insights, network, and access to capital.
The first project we backed is DigiCol, a peer-to-peer NFT art marketplace. The second project is God Temple, a mythical NFT art collectible featuring limited edition artworks based on mythical God characters, collaborated with the DC and Marvel comic artist, Pat Lee.
DigiCol is the first project AC Ventures backs. It is also the very first project to run an IEO on ACDX. Before the NFT boom, our analytics had foresight on how the new technology can shake up the art world. This gives ACDX exposure to the DeFi NFT space.
One of the most anticipated crypto projects in 2021. We look to redefine derivatives with Casper’s technology. Casper will be able to let traders predict and guard for gas spikes. By building a fully decentralized platform on Casper network, we can bridge the gap between CeFi and Defi, and also maximize flexibility for ACDX traders.
- God Temple
The second project AC Ventures backs. It is a mythical NFT art collectible featuring limited edition artworks based on mythical God characters, collaborated with the DC and Marvel comic artist, Pat Lee.
Our very first DeFi partnership which enables mUSD as supported collateral at ACDX, allowing maximum capital efficiency for mStable users.
We partnered with DefiCliq to offer another staking option for ACXT holders with attractive APYs. 4% of ACXT’s circulating supply was staked within a week. We have also listed CLIQ on ACDX to welcome the project’s community.
DeFiPie enables users to lend and borrow ACXT and earn up to 100% rewards. The partnership also allowed ACDX to further step into the DeFi sector.
Simplex offers a fiat to crypto gateway for users who want to enter crypto trading at ACDX. Through Simplex, you can buy a variety of cryptocurrencies using credit and debit cards with up to 50 fiat currencies supported.
What We Can Expect in the Coming Quarters
Q2 2021— Wallet Upgrade
When it comes to asset management, we always put security first. That’s why we have partnered with BitGo, using smart contracts to put an extra layer of security to your assets. But as the market evolves, the gas fees for transferring ERC20 tokens have become a pain in the butt for users. Consequently, the high gas fee caused network jam in withdrawals and deposits.
Our team has been developing a solution to lower the blockchain transaction costs for users at ACDX, while not sacrificing the level of security we have. And we expect it to roll out by Q2.
2nd Half 2021— ACXT Governance Attributes
We have been planning on how ACXT can be best used. Listing vote, token burn rate, etc., there is a lot of feedback from the community. And we know, you all can’t wait to have the governance model going live.
There is so much that can be done with ACXT. As the trading platform of ACDX evolves, more possibilities will be unfolded. And we can expect more governance attributes to be added.
2nd Half 2021— Mobile App
We understand that in this 24/7 crypto market, a good mobile app is crucial to traders, so you won’t miss any market movement while you’re on the go, in the bathroom, and in bed.
The mobile app will be built around our unique trading product — Bull Bear Strike Token. From there, you will be able to check the listed BBS conveniently and execute your trading strategies.
2nd Half 2021 — Decentralized Platform
As announced earlier, we have the plan of building a decentralized platform which can further utilize ACXT. As stated in our mission statement, we want ACDX to be a bridge between DeFi and CeFi.
As there are already many platforms out there, you may probably wonder how ours can stand out from the crowd. We can expect that the platform will be much more than an AMM liquidity pool, with revolutionary features that the market has not yet seen.
1st Half 2022 — Warrant Trading
Warrants are very similar to Options, but warrants are over the counter (OTC) product, which is highly customizable. This product can be tailored for any projects and institutional traders.
Telegram Announcements: https://t.me/ACDX_announcement