ASD is a functional utility token native to AscendEX. ASD token holders are eligible for many platform services and benefits. AscendEX has completed the implementation of the new smart contract solution for ASD on October 23rd, 2019. Total supply of ASD has decreased from 1 billion to 787,683,613. Based on the amount of ASD consumed, the equal amount of ASD will be automatically converted to ASDS. As a result, the total supply of ASD displayed through the smart contract address will continue to decrease.
ASD Holder Rights and Ecosystem
1. Platform Currency
ASD will be used as the unit of exchange for all services and operations offered on AscendEX. For example, AscendEX will charge a fee in ASD for users’ participation in platform promotional activities. ASD can be consumed by the purchase of various benefit cards, such as Point Card, and other products on the platform such as Volatility Card.
2. Multiple Trading Modes
AscendEX offers multiple mode options across regular trading and margin trading on the different needs of different customer and/or user groups. The mechanism is designed to provide different levels of incentive to meet the requirements of diversified market activities and trading behavior such as market makers vs. takers.
3. Tiered VIP Transaction Fee Structure
Since Oct 2019, there has been a new tiered VIP transaction fee structure in place for both traders and ASD holders within the AscendEX ecosystem. A 10-tier VIP fee schedule is set based on (i) trailing 30-day trade volume (across both asset classes) and (ii) trailing 30-day average unlock ASD holdings. The enhanced fee structure further evolves the utility of ASD, by offering token holders attractive marketplace advantages on transaction fee. All latest details on Tiered VIP transaction fee schedule can be found:
4. Token Consumption
- ASD token holders can consume a certain amount of ASD for additional benefits such as membership upgrade related to transaction fee, interest on margin loan, airdrop, token release, etc.
- The total supply of ASD will continue to decrease as the amount of ASD consumed increases.