Bitshares---The Platform for platform tokens
AEX exchange is always very supportive to Bitshares, for example, this exchange was the first centralized exchange to support bitcny trading pair.
Today, AEX exchange has just announced that they have issued GAT (Global AEX Token) on the blockchain of Bitshares. The cap of GAT is 100 billion. aex.com is the former btc38.com, which was the biggest altcoin exchange in China.
GAT is similar to BNB of Binance Exchange, or HT of Huobi Exchange. It's called platform token, which can be used as transaction fee, or used for voting when new coins want to be listed. Also, part of the exchange income will be used to buy back GAT.
The difference of GAT with other platform tokens are as below.
Application scenarios of GAT
A, AEX bills are paid through GAT (Implemented).
B, GAT will be widely used in the upcoming AEX community (coming soon).
C, GAT will be used to purchase AEX's VIP membership service (coming soon).
D, GAT will be able to deduct commission on the platform(coming soon).
E, GAT, as a unit of valuation, supports a variety of popular currency transactions(coming soon).
How to get GAT?
If you hold NSS(Previous platform points), BTC, BTS, ETH or LTC on AEX EXCHANGE, you will get GAT freely through airdrop. The airdrop will last for 120 days, and you have to log in everyday to collect.
What it means to Bitshares?
Obviously, this is a great news to Bitshares, as it means that if more platforms learn from AEX EXCHANGE and issue their tokens on Bitshares, customers will get an easy way to trade the tokens of different exchanges within Bitshares. Bitshares will become the platform of other platforms.
Be careful that the airdrop has to be collected manually everyday! If you miss it, you lose it.
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This is huge!!! Imagine how many bitshares wallets this will bring to the network. 50 million trading volume daily and growing for AEX.
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The market already responded this news.
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Any idea WHEN the airdrop will begin?
"cap" typically refers to "market capitalization" and means the sharecount times share price (in stocks). So 100 billion is the number of tokens (shares) to be issued, not really the "cap". The mkt cap will be determined when GAT is freely trading at a price.
Trying to remember some history on btc38.com, did they get robbed at one point? We'd want to know this history of their operations before we'd go anywhere near it, airdrop or not.
very informative, exactly the kind of article we read on Steemit, thank you, following now, and resteemed.
ANY details you can tell us about AEX "Community"? What is that?
Lastly, we've been asking for our entire time on Steemit, and still no one has come up with a legit answer: What is the difference between OpenLedger and BitShares; why does OpenLedger exist at all? Still completely baffled. If you are a member of one, are you a member of the other? Makes zero sense to us, and we stay far away from the nonsensical.
Also, BitShares has a rather large exit fee, we've written about this too. You wanna pull money out of there, and they aren't scared to scrape a nice chunk for themselves. HATE that business model, charge us commissions fine, but don't ever charge to enter or exit unless it's a VERY nominal fee which isn't a percentage of assets. For instance, ATMs charge you the same fee whether you remove a lot of money or a little money-- they don't charge you 10% of the amount you remove. If they did, they'd never be used except in a real pinch. Apparently BitShares users aren't very sophisticated or very desperate bc they'd never agree to these fees unless there was no other way. NOTICE: Coinbase was charging egregious fees until BitFlyer got their NY crypto-license. Wow, all of a sudden Coinbase is knocking down insane fees and improving awful customer service. Isn't competition nice?
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Thanks for your correction. The sharedrop starts from March 1st, which is today.
Regarding your question about Bitshares and openledger. Openledger is a gateway of Bitshares, they share the same blockchain. Bitshares is Nasdaq exchange, whereas openledger is a security company where you can open your trading account, though openledger has other business besides being a gateway.
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thx, that's a START. Why would BitShares need OpenLedger tho, if it already runs the same/similar exchange? If I'm on OpenLedger buying a crypto, and you're on BitShares selling same crypto, are we able to trade with each other? If so, who gets the commission? When we pay the rather large exit fees, who gets what percentage of the exit fee?
So while one is a gateway of the other, why OpenLedger exists we still don't understand. It's not enough to say "security company" bc what does that mean? Is BitShares DEX not secure?
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AEX seems to be heading for glory @jademont
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I agree. It's always very supportive to Bitshares.
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hehe, I also support bitshares and also you support my post @jademont
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i agree bro . i am try AEX exchange issues its own token
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What is NSS?
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Very good News for Bitshares and a great way to get free coins. I have seen an announcement that they had problems with Bitcoin withdrawals and suspended any new BTC transactions (Please check their announcements). Therefore I don't really feel save to give them my precious BTS since they are not decentralized. What do you think about the security and liability of AEX.com?
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Aex was the former btc38, which was the top one altcoin exchange. The security and liability of aex are top level compared with others.
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wonderful news ... I vote for you, I invite you to read my last post and vote.
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hope it's work
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