10 June 2022 – AAX, the institutional-grade cryptocurrency exchange, has announced the rollout of Yu Coin (YUCJ) as the first token on the AAX Launchpad.
The AAX Launchpad is a new initiative for AAX Exchange users that launched earlier this year, providing the AAX community with early access to promising, high-quality blockchain projects that target real use cases and have the potential to make a big impact.
The first project launching on AAX Launchpad is Yu Coin, which has ambitions to become a widely accepted digital currency and a decentralized medium exchange for buyers, sellers, miners and investors in the jade industry. Jade is a precious stone that’s widely used for jewelry and ornaments and seen as an important store of wealth, similar to gold.
Through Yu Coin, developer Yu Shi Tech aims to bring the jade industry onto the blockchain to be able to ease the flow of transactions across borders in a smooth, transparent and reliable manner that lowers costs for both businesses and consumers alike.
Yu Coin is attempting to blend blockchain concepts such as cryptocurrency and non-fungible tokens (NFTs) to do this. YUCJ will be the cryptocurrency used to facilitate jade transactions, while Yu Coin NFTs will be created as a form of non-replaceable tokens that’s issued for each jade stone, certifying its authenticity and value.
The advantage of Yu Coin, according to Yu Shi Tech, is that buyers and sellers of jades will be able to transact freely, without any intermediary or relying on third-party certification authorities, to ensure optimal prices and increased trust within the industry.
“AAX Launchpad is an important initiative that brings the potential benefit of early market access to our users while it enables the exchange to partner with more projects that can help to widen the scope of our engagement, as we tap into new markets and ecosystems,” said Ben Caselin, Head of Research and Strategy at AAX.
Through AAX Launchpad, users will have a unique opportunity to become early investors in Yu Coin through the AAX Launchpad, which is hosting a series of events to coincide with the token’s launch. These include a Telegram-hosted AMA on June 10, 13:00 UTC, which will give investors an opportunity to pose questions to the project’s developers and earn additional rewards for participating. The AMA will be followed by the chance to obtain subscription tickets required to purchase YUCJ tokens through the AAX Launchpad. The opportunity is open to all AAX exchange users that hold the minimum required AAB, BTC, ETH, USDT and USDC fixed savings amount as stipulated in the AAX Launchpad’s terms and conditions.
About AAX
AAX is a top-tier crypto exchange that caters to a global audience, with a vision of bringing the benefits of crypto to everyone. Through an accessible range of products and by contributing to the conversation about crypto and culture, we aim to empower the estimated 96% of people worldwide who do not yet own Bitcoin and other digital assets to build better and more inclusive economies.
Favored by more than two million users in over 100 countries, AAX is the first exchange to use the Satoshi Standard (SATS) to drive the adoption of Bitcoin. We are also the first to be powered by LSEG Technology, offering high-yield savings packages, 100+ spot pairs, deeply liquid futures markets, regular discounts on major tokens and a range of on- and off-ramp products.
Aax.com
