Institutional-grade cryptocurrency exchange AAX today announced the launch of its AAXcel Community Listing program that aims to equip emerging projects in the digital assets industry with better opportunities for growth within the AAX community.
AAX Exchange Launches AAXcel Community Listing Program
Notably, the first phase of the AAXcel Community Listing program is already live with 11 participating projects and counting. Each of these projects is tasked with presenting its project proposal to the AAX community, who will then vote for their favorite projects. Subsequently, the three projects with the highest number of votes will be rewarded with a free listing on the AAX crypto exchange.
The 11 participating projects will burn the midnight oil to earn the maximum amount of points awarded by the AAX community during the AAXcel Community Listing program. All the 11 projects will have an exclusive link that AAX community members can share and new users who register through that link can earn points for the project in question by completing KYC1, depositing crypto and cash, trading, engaging in savings, and more.
It’s worthy of note that community members who complete various missions will also be able to earn tokens that can be used to vote for projects.
A Closer Look at the Campaign
The campaign involves several policies implemented by AAX to prevent dishonest behaviors, such as click farming, mass registering ghost accounts, self-buying, self-selling, and wash trading.
Notably, each project is required to secure a minimum of 1,000 points to be considered for a free listing opportunity. Alternatively, each project is required to be backed by a minimum of 100 users who have signed up via the exclusive link. Projects that fail to meet either of these requirements will not be considered for the final vote.
The first phase of the campaign will run from 09:00 am UTC on May 27, 2022, until 09:00 am UTC on June 6, 2022. This means that the required points can only be earned between these two dates.
The top three projects with the highest score – counting both points acquired from task completion and community votes – will be chosen as the first projects to earn a free listing on the AAX exchange.
Commenting on the development, Ben Caselin, Head of Research and Strategy at AAX, said:
“In an industry that increasingly insists on decentralization, we see it as vital to keep finding innovative ways to align the exchange with some of the key principles in crypto. Providing our user base with more venues to shape their own trading experience is another step AAX is taking to foster inclusivity and to build a community.”