Ascendex’s ASD to follow Kucoin’s KCS?

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legendary

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Quote from: nira09 on December 05, 2021, 04:06:00 PM

I don't know for sure the reason why Bitmax changed their name to AscendEX, Bitmax was a popular exchange in the past, but has gone downhill and is currently recovering.
Holding ASD tokens does have many benefits:

The ASD Ecosystem is made up of a variety of investment products and service offerings that revolve around holding and using AscendEX's platform utility token, ASD. The ASD ecosystem offers users holding ASD a number of ways to earn extra income and fee discounts. Some benefits of acquiring and holding ASD are the upgrading of trading accounts to VIP status and the lowering of trading fees. ASD holders can generate a USDT based return daily by investing in ASD financial products with consistent APRs. Users can also take advantage of a 50% discount on margin trading interest by purchasing Point Cards, participate in auction events using ASD, and more by engaging with the ASD ecosystem.

But to say that ASD will become the next KCS or BNB still needs to be re-examined.

I did not say it will be the next KCS or BNB. I was asking if it would follow KCS. Ascendex’s ASD is only $200 million market capitalization compared to Kucoin’s KCS with $2 billion and Huobi’s HT with $1 billion. Also, they have received a series B funding of $50 million which is very large for a series B. It appears those venture funds have confidence on Ascendex’s growth. It also appears that Ascendex is a profitable exchange with revenues that might be beating the yearly forecasts to receive a large series B.

GreatArkansas

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To be honest, these kinds of coins are a high possibility that will do the "domino effect", it's like they will copy each other actions.
For example Binance did Binance Smart Chain, and look Kucoin now, they created their own network, and before, Huobi also got Huobi chain after Binance.

So, this Ascendex could also copy what other exchanges did. Very possible, especially before, the craze of IEO (Initial Exchange Offering) Most of popular or high volumes exchanges started this feature and most of them are earning huge profits.

nira09

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I don't know for sure the reason why Bitmax changed their name to AscendEX, Bitmax was a popular exchange in the past, but has gone downhill and is currently recovering.
Holding ASD tokens does have many benefits:

The ASD Ecosystem is made up of a variety of investment products and service offerings that revolve around holding and using AscendEX's platform utility token, ASD. The ASD ecosystem offers users holding ASD a number of ways to earn extra income and fee discounts. Some benefits of acquiring and holding ASD are the upgrading of trading accounts to VIP status and the lowering of trading fees. ASD holders can generate a USDT based return daily by investing in ASD financial products with consistent APRs. Users can also take advantage of a 50% discount on margin trading interest by purchasing Point Cards, participate in auction events using ASD, and more by engaging with the ASD ecosystem.

But to say that ASD will become the next KCS or BNB still needs to be re-examined.

cabron

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https://www.betcoin.ag

KCS probably, ASD is more for staking like the KCS and also fee advantage. I have not read more of its use case though but the exchange had been growing. More room for price growth too with such a low cap. I guess this is one of the tokens that should be grabbed as it had dropped terribly from $3 to $0.40.

It has to be its bottom, If I have the money I will probably buy some of it and stake to earn through staking.

bbc.reporter

legendary

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Similar to someone’s KCS to follow BNB thread, I am asking the same question.

ASD is the token of Ascendex. This is a cryptocoin exchange that also offers to become a portal for bridging different Defi projects and also as a bridge between centralized exchanges and decentralized exchanges.

Ascendex does not have the volume of Kucoin, however. But it appears there are big investors in the cryptospace that support them. They have completed a series B funding round of $50 million on November3 with investors including Polychain Capital and Alameda Research.

ASD is only $0.40 and market capitalization is $269 million according to coinmarketcap.com

https://ascendex.com/en/global-digital-asset-platform

AscendEX, a global cryptocurrency financial platform, has announced the close of a $50 million Series B raise led by Polychain Capital and Hack VC, with participation from Jump Capital and Alameda Research, as well as Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital. Imperii Partners served as an exclusive financial advisor to AscendEX in support of the Series B fundraise process.

“AscendEX plans to use the Series B funds to accelerate international market entry, and catalyze further product innovation, specifically focused on blockchain-based yield generating protocols,” notes Shane Molidor, Global Head of Business Development at AscendEX. “Building a bridge to the DeFi ecosystem has allowed AscendEX to differentiate itself from other cryptocurrency exchanges and has made the platform a popular destination for innovative DeFi projects to conduct initial exchange offerings (“IEOs”). We are thrilled to collaborate with our new investors to further solidify our unique competitive advantages.”

Read in full https://www.businesswire.com/news/home/20211103006190/en/AscendEX-Announces-a-50mm-Series-B-Raise-Led-by-Polychain-Capital-and-Hack-VC

Topic: Ascendex’s ASD to follow Kucoin’s KCS? (Read 85 times)