Some time ago, OKEX announced the destruction of all unissued 700 million OKB, with a total price of more than 20 billion yuan. Soon, Huobi also issued a monthly destruction announcement, destroying a total of about 5 billion yuan and a total of 147 million HT. After the destruction, both platform coins attracted a wave of rally and properly carried out an economic deflation.
In fact, since the birth of Bitcoin, various exchange platforms have emerged in an endless stream. Especially in 2017, Binance issued its own platform coin BNB. With the sharp increase in the currency price after BNB, it has driven two other first-tier exchanges Huobi and OK to keep up with the pace and have also issued their own platform coins. As the hype of IEO gradually fermented, the overall market value of platform coins in 2019 Hit a new high in the year.
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However, the IEO wave gradually faded, and investors' perception of platform coins also became rational, and began to explore the true value behind it. How much investment value does platform coin still have? What are the rights and interests of holders? What are the value support behind? On the afternoon of April 10th, AAX CEO Thor Chan was the guest chain node AMA and started a discussion on the exchange and platform currency with the community users on the topic organized by the host Niutou.
Before the big market comes, the rise of the platform currency will be ahead of Bitcoin
Halving is a topic that has been mentioned countless times in the first half of this year, but it has never been discussed. The development of the platform currency is bound to be affected by the halving event. Thor said that if the halving market can drive the price of the currency up, then the corresponding Yes, it will definitely bring benefits to the platform currency, and he believes that the rise of the platform currency will definitely be ahead of Bitcoin. He explained this about:
The platform currency was the first to rebound in the bull market last year. Before the advent of the big market, the rise of the platform currency will be ahead of Bitcoin. This is because when Bitcoin rises, the exchange's profits will expand rapidly, the repurchase volume will surge, and the rise is expected to be strong; otherwise, when the price of Bitcoin falls, the market will be down As the exchange profits decreased, the repurchase volume decreased accordingly. So it will become the leading indicator of market conditions.
In fact, similar to the plate effect in stocks, the encrypted digital currency market also has such inter-plate effects. The halved currency plate changes and the platform currency plate are inextricably linked. In the face of halving, whether each platform currency can seize the wind and seize the opportunity has naturally become a topic of concern to users.
Platform currency value = platform fundamentals + use value + token model + speculative value
This goes back to the incident mentioned in our opening chapter. The exchange will regularly repurchase the circulating platform currency at the market price and destroy it no longer in circulation. In this way, the number of platform coins circulating on the market will become increasingly scarce. Due to the supply and demand of the market, the price will rise when the supply of goods is in short supply. In order to inject a dose of "heart-stamping" into his platform coin through deflation.
Of course, the reason why such a method is called a "heart pin" is because its role is swift and short-lived after all, and the value of any platform currency cannot rely on such "visible" hands to maintain the increase. As Thor said, to judge the value of the platform currency, we must judge from the four dimensions of platform fundamentals, use value, token model, and speculative value:
Platform fundamentals: The value of the platform token is still determined by the value of the platform itself. If it is a trading platform that focuses on the development of the industry, it is a long-term development that focuses on and has some good background. The platform token has long-term value.
Use value: more application scenarios. The more places used, the more benefits the platform gives to users, the more users can be attracted to hold, and the more it can reflect the use value.
Token model: The token economy must be integrated with the business itself, otherwise it is pure financial means to "cut leek". Therefore, the design of the token model should be implemented on the business itself. If the combination is more efficient, users are more attracted to participate. It will be easier for users to buy.
Speculative value: Investors also pay more attention to the platform price support of the platform currency, and often focus on the profitability of the platform. Only if the platform has a strong hematopoietic capacity can it better open up all joints.
In the discussion, some users mentioned that some platform coins can be used for taxi rides and coffee purchases. With mobile payment being so convenient, is this kind of setting superfluous? Thor said that these settings seem to provide users with an irrelevant option, but in fact, this is a reflection of the value of the platform currency.
Regarding how the platform coin breaks through the circle and wins the track, Thor said that many excellent platform coins have made many excellent and interesting gameplay and achieved success. Referring to his own AAB, he added:
We plan to issue 50 million pieces at a price of 1 USDT1 piece. After the public sale, AAB will benefit from daily repurchases and currency destruction. AAX's contract trading market uses BTC and USDT as settlement currencies. All transaction fees earned through this market will be 100% used for daily repurchase and destruction of AAB from the market. In the future, it may also include trading procedures earned from other financial products. All AAB repurchased from the market will be destroyed. Relevant destruction information can be reviewed through the blockchain. The whole process will continue until the destruction reaches 50% of the total supply of AAB.
After sharing his advice on platform coins, Thor also mentioned his idea of an excellent exchange. He believes that although we all know that the concept of a decentralized exchange is excellent, it is difficult to implement and the current technology is not mature enough. For now, centralized exchanges are deep enough, friendly to users, and suitable for people and user concepts. Correspondingly, in the current market, for the market, exchanges and users, a platform currency with good model design and application scenarios can be regarded as "just needed" to some extent.
The above is the contents of this AMA.
Review of this issue of AMA: https://www.chainnode.com/ama/420065?sort=hot