Crypto Exchange ABCC To List New Tokens Based On Community Voting

Updated On Sep 3, 2018 by Cameron Bishop

Cryptocurrency exchange ABCC, which currently offers a handful of high-quality cryptocurrencies, has announced that it is rolling out a ‘Community Vote to List Scheme’ to identify top quality blockchain projects and provide users with well-diversified crypto investment opportunities.

The cryptocurrency exchange has announced that it will assess all the received applications for listing using its custom built coin evaluation system and respond to applicants of the decisions taken on their applications.

ABCC has stated that it will inform the starting date of voting to the community, following a detailed assessment of all the received applications.

ABCC has detailed the listing rules as follows:

Voting Instruction

Voting Period

3.2 Rules

  • ABCC will open a deposit address for each blockchain project eligible for community voting. To participate, users are required to deposit the project coin to this deposit address.
  • The minimum deposit amount for each vote will be 0.05 ETH worth of the corresponding project coin. The minimum deposit amount for each project denominated in the project coin will be officially confirmed when we announce the projects shortlisted for voting.
  • A vote will only be deemed as valid when its deposit amount has exceeded the minimum amount specified. Voting for multiple blockchain projects is allowed for any user.
  • A vote will be deemed as invalid if the voter is from a country / jurisdiction where trading certain digital assets is deemed as illegal by the local laws and regulations.
  • ABCC will count the number of valid votes for each blockchain project shortlisted. ABCC will rank those projects per the number of valid votes and arrange the projects at the top of the ranking to be listed on ABCC.

3.3 Review

ABCC will review the voting results at the completion of the voting with methods including but not limited to data analysis and sample survey.

ABCC will disqualify blockchain projects for listing immediately if any cheating activity has been detected.

3.4 Announcement

ABCC will announce the voting results within two working days after the completion of our review of the voting results.

3.5 Withdrawal

Withdrawal will be allowed for blockchain projects not successful at this round of voting after the voting results have been officially announced.

Listing

ABCC will arrange coins successful at this round of voting to be listed on ABCC.

Project Specific Voting Incentives

  • Voting incentives will be available for some projects successful at our preliminary assessment to encourage voters to vote.
  • ABCC will announce voting incentives along with the blockchain projects successful at our preliminary assessment.
  • Blockchain project teams will distribute rewards as per their voting incentive plans at the completion of the voting.
  • Voters are required to keep their project coins deposited until the rewards are distributed.

The cryptocurrency exchange team stated

“One will be deemed ineligible for this Community Vote to List Scheme if any suspicious registration or deposit activities are detected. ABCC will take the following actions, including but not limited to, disqualifying one’s eligibility to participate in this scheme, withdrawing one’s rewards earnt, imposing restrictions on or terminating his / her account. We may take legal action if serious events are detected. ABCC reserves the right of final interpretation for this scheme.”

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Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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