ABCC Crypto Exchange Opens ‘Community Vote to List Scheme’ For Adding New Tokens
ABCC is a crypto exchange that offers many cryptocurrency assets on their website. However, in an effort to enlist the help the community, the company has established a “Community Vote to List Scheme,” which will offer a wider range of digital assets for consumers to invest in. With the new opportunity, the company plans to list every digital asset that submits an application.
The applications will go into an evaluation system, where applicants are able to watch for the results. ABCC plans to announce the official first date of the voting after the protocols are in place, but they first have to assess each one of the applications. Each voting session lasts for a single week.
There are certain rules that any applicants must abide by in order to be listed for voting. Every blockchain project that is deemed eligible will receive a deposit address. If the user wants to take part, they will need to make a deposit with the use of project coins, which will have to be at least 0.05 ETH worth of that token. The official price of the token will be determined upon approval. The only restriction on a community member will be if they are not voting from a country that cryptocurrency can legally be used in.
Once the voting period is over, ABCC will be responsible for checking the number of votes, ranking projects by vote. The company plans to use protocols like data analysis and sample surveys. The exchanges that come out on the top of the ranking will be accepted. However, cheating will not be tolerated, and will automatically disqualify the token.
The announcement for the victorious tokens will be within two business days after the review is done, though tokens that did not come through will be able to withdraw themselves after that. To urge community members to participate in the voting process, ABCC will have incentives offered for some of the projects. However, those incentives will not be made public until the preliminary assessments of the token take place. Users that deposit coins will not be able to withdraw them until they receive the rewards promised for the incentives.
The ABCC team released the following statement:
“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.”