Looking Back, Looking Ahead: ACDX Founder’s Year-End Message 2020
Happy New Year!
This month marks 11 months since ACDX was founded in February 2020. Thanks to everyone’s support, ACDX now captures the headlines and has flourished to be one of the world’s fastest growing blockchain companies in 2020.
I feel that 2020 was a transformative year in the crypto and blockchain industry. The industry was reshuffled as more anticipated newcomers entered the market, both retail and institutional. The price of Bitcoin nearly quadrupled during the year and kept breaking its all-time highs. I am grateful that ACDX can blossom in such a legendary year.
Since Beta
ACDX public beta was launched in September 2020 with the major product offerings quarterly futures, perpetual futures, futures spread and spot. During the time, we have listed new trading pairs, partnered with DeFi protocols and kickstarted new token sales to respond to the need of our community. Soon, we will also release the long-awaited first crypto structure product to enhance your trading experience.
As we are relatively new in the market, we have been looking at only 1–2% of the current market share, which in fact equals to around USD 85 million. Launching ACDX of this scale is never a walk in the park and rolling out a solution is unlike a flick of the switch. There are untold challenges from industry changes, user experience problems and others — more than 95% are operational and not technical in nature. This project is a true test of the team’s execution ability which, I am proud to say, we have demonstrated with flying colors.
Community-Driven ACXT
Taking the opportunity, I would like to express my heartfelt thanks to the community that brings the idea of ACXT into existence. ACXT is the community-driven exchange token of ACDX. It empowers holders to make governance decisions such as listing vote on ACDX, thereby influencing ACDX’s development. This community-centric utility will be realized in the near future. It feels wonderful to connect with like-minded persons via ACXT that together we can help to bridge the gap between the decentralized and centralized blockchain fields.
Aside from the governance feature, our team provides a few ACXT applications to help expand the token’s utility value. Firstly, we have the Liquidity Farming Program where market makers can earn ACXT by providing liquidity to ACDX. Secondly, we grant ACXT holders the access to exclusive trading privileges and referral bonus. Thirdly, we empower holders to earn additional ACXT by staking ACXT. In the future, we will continue to deliver more practical ACXT use cases since unlike typical tokens, we hope that our community-driven token can bring true values to you.
To extend our gratitude to the community, we completed two token burns this year, taking 385,812 ACXT out of circulation forever. By completing the two token burns, we hope to balance the ACXT supply, maintain the ACXT utility value, foster the sustainability of the ACDX ecosystem, therefore benefitting ACXT holders in the long run.
My profound gratitude also goes to our industry’s fellows. The listing of ACXT is merely around 1 month on ACDX, yet it is already listed on Bittrex, one of the largest exchanges in the crypto market. It is our honor to get a thumbs-up from the widely recognized industry leader, which approves us that we are now one of them.
Liquidity & Market Making
Since the birth of ACDX, we have received a wealth of concerns about our order book. As traders, we understand you want to make profits from the investment immediately. However, for all the liquidity, market making and pricing things including ACXT price, ACDX has no control over them because the whole ecosystem is community-driven. This is the spirit of the crypto and blockchain industry, being transparent and no single entity can control the whole market.
Running a business is unlike reading a book. We cannot jump to the last chapter without going through the preceding pages. Some industry fellows do unlock the last chapter artificially with the help of liquidity/market making/pricing tricks, but the fame is solely ephemeral. That explains why many crypto industry players come and go — they simply use all the resources raised to manipulate the price or buyback the tokens they sold, instead of building the project and providing real values to users and to the wider crypto community.
At ACDX, we do not allow this to happen. We will not come and go like others did. Hence, we pool our resources on building the platform, developing the products, expanding the team, maintaining the license, investing in marketing and other operational functions, etc. Compared with other ICOs that play around with tricks, we are really trying to make real things happen, which means it may take time to unlock the last chapter. As the dust settles, only capability and perseverance prove. It is a long-term journey, and we are here to walk with you. We care as much as you do.
Marketing and Publicity
We have often been known to be a down-to-earth project and that is aligned with the trader-centric nature of our business. ACDX was established through organic effort and real traffic, and our focus in quality comes first. During the year, indeed we have pushed things forward through marketing and public relations, it was never our intention to steal the spotlight. Time will tell, it is not the loudest that survives but the one that is able best to adapt and adjust to the changing environment in which it finds itself. We will continue to ignite the marketing fuel in the future, more sparkling, bursting and crackling. More importantly, we will walk the walk as we believe actions speak louder than words.
Entrepreneurs to Follow
Together with Elon Musk, I am truly humbled to be listed as one of the ‘Entrepreneurs to Follow in 2021’. This is a very auspicious moment for me and other founders since we have dedicated our efforts in bringing the ideas into reality. But let me tell you. We did not walk alone. We were accompanied by all the valuable staff members who have worked around the clock to make the company one of the most recognizable brands. It is the grit and team spirit that deserves the award.
Our Road Ahead
Community is the foundation of our success. In the year of 2021, we will be closely watching the crypto and blockchain market to adjust our product offerings and company direction so as to keep up with your fast-changing needs. Our mission has been to enhance the crypto derivatives trading experience ever since our establishment. To achieve this, we will be democratic and innovative in making decisions because ACDX is built upon traders and we understand that — you know it better than us.
Moreover, we will continue to expand the team and hunt for highly skilled talents. By doing this, we can ensure only the best products are developed for our customers because we understand that — you have no time for failure.
Lastly, ACDX will strive to uphold our mission of contributing real values to the crypto industry. Unlike some industry black sheep that play around with liquidity or pricing tricks, we will focus on the roadmap development and product features since they are more conducive to us and to the wider crypto community in the long run. Again, it is not the loudest that survives but the one who is producing real values and that takes time. Good thing always takes time. You may not see it happen suddenly but gradually we will drive ACDX into the next stage because we understand that — you deserve a trader-centric exchange.
Thank you! Let’s toast the end of this year with a glass of champagne!
Andy Cheung
Founder & Executive Chairman, ACDX
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
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