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ACDX Exchange Governance Token: Everything you need to know

ACXT

Source: CoinMarketCap

Cryptocurrencies have been around us for quite some time now and the industry has had a surge in growth and popularity recently. The crypto world has managed to make a name for itself in the global marketplace and has been more than successful in luring in potential investors from all across the globe.

Having said that, I believe, most of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

To begin with, cryptocurrency is nothing but a decentralized platform that uses blockchain technology for all its operations. Being decentralized, the industry becomes more than capable of stepping outside the overall control jurisdiction of central authorities and can work freely without any unnecessary government interference as well.

This digital asset of yours can also be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

Unlike when the industry was first introduced and the times when people were not very sure about the safety of their money along with the return on their investments and when not many currencies were released, there are pools of currencies available in the marketplace today for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Polkadot, Bitcoin, PancakeSwap, Binance Coin, Cardano, Ethereum, Dogecoin, EverGrow Coin as well as Baby Doge to name just a few of course.

ACXT

Source: YouTube

Now, for those of you wondering how did the industry manage to reach such great heights? If so, some of the major contributing factors for this huge and extraordinary success of the industry include its portability, negligible response time, real-time updates, the convenience it offers, ease of use, intuitive nature, volatility as well as high-profit margins of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, ACDX Exchange Governance Token. To know more, I suggest you read further!

Everything to know about ACDX Exchange Governance Token (ACXT)

ACXT

Source: Medium

ACDX Exchange is nothing but simply a cryptocurrency exchange that is focused on derivatives trading. In other words, ACDX is known to offer a next-generation cryptocurrency derivatives trading platform with cryptocurrency structured products that the industry has not been able to see yet.

Not just that, the exchange is said to be entirely focused on true innovation across a really wide range of fair, easy to use as well as transparent trading products that will suit the needs of current along with emerging traders of virtual currency.

Before moving on any further, it is worth noting that, ACDX Exchange is registered in Hong Kong and has been operational since 2020. Also, ACXT is said to be the native utility token for the platform which as a matter of fact can be used for a variety of purposes. This maker governance token of ACDX allows token holders to make several decisions on the exchange including fees rates, listings, token burn rate as well as even bigger decisions like supporting and handling of hard forks.

ACXT

Source: ICO Drops

According to the project’s whitepaper, ACDX is one such platform that plays the role of a catalyst in order to foster the development of the crypto world. It further says, on the cutting edge of financial technology, the platform is responsible for innovating new products and creating new markets in order to better connect traders and help grow projects’ communities.

Now, let’s have a look at what exactly is ACXT liquidity farming, which has created a huge hype in the marketplace. To begin with, see it this way that, every token holder is known to have the same rights but those with more tokens will be having a much bigger influence!

In addition to this, for building a rather healthy ecosystem, ACDX Exchange has decided to simply reserve a portion of tokens which is about thirty percent of the total supply, for the makers of ACDX alone. Furthermore, this reserved portion of ACXT will be unlocked daily on a linear basis over a period of nearly four years and can be injected into a daily incentive pool.

Also, you should probably be aware of the fact that, only makers who successfully have their maker orders filled will be able to receive the incentive. On the other hand, takers will not be able to receive any ACXT by filling an order. However, all makers will split the daily incentive pool on a pro-rata basis to their maker volume of the day. 

ACXT

Source: Medium

For some of you wondering, why is this done? Allow me a chance to explain. By taking the above measures, ACDX Exchange is able to ensure good liquidity, a significant cost for wash trading, and most importantly, healthy and long-term growth of the exchange.

Moving on, ACXT holders can also enjoy an exclusive referral bonus as well as trading fee discounts. Lastly, speaking of a buyback and burn program, you should know, about fifty percent of maker fees will be used in order to purchase ACXT from the secondary marketplace.

After which, the bought ACXT will be sent to a black hole address, which will be done every other quarter. However, the remaining fifty percent of the maker fees that have been received will be injected into the platform’s very own insurance fund.

Now that we have talked much about ACDX Exchange Governance Token, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in ACDX Exchange Governance Token (ACXT)

ACXT

Source: NewsBTC

As of today, the price of ACDX Exchange Governance Token is about 0.046177 US dollars with a twenty-four-hour trading volume of 5.18 dollars. Not just that, in just the past twenty-four hours, the value of ACDX Exchange Token has gone down by 517.70 percent, and though unfortunately the current market cap and the current circulating supply of the currency are not yet available, ACXT is currently placed at #8230 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the maximum lifetime supply of the token is about 49,999,976 ACXT coins and in just the past week alone, the price of the platform has risen by 176.68 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in ACDX Exchange Governance Token is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that ACDX Exchange Governance Token can prove to be a risky investment in the near future, which is likely to provide you with fewer returns and it is a possibility that your current investment may decrease in value. But again, nothing can be said or sure!

ACXT

Source: Nomics

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, ACDX Exchange Governance Token does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy ACDX Exchange Governance Token? Let me help you with that. Currently, ACDX Exchange Governance Token is not really available on all major crypto exchanges but, it obviously is available on ACDX Exchange. Also, some virtual currencies like ACDX Exchange Governance Token can only be purchased with another cryptocurrency on decentralized exchanges. Therefore, in order to purchase ACXT, you’ll need to first purchase Ethereum (ETH) and then use ETH to buy ACXT, and to do that, you will probably need what is known as a self-custody wallet.

In conclusion, what are your thoughts on ACDX Exchange Governance Token? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: BitMart Token: Everything you need to know

 

 

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