An introduction to Axion.
Axion is an emerging global monetary system designed to increase the purchasing power of the network participants- as per the whitepaper. The network offers an incredibly lucrative investment opportunity, with returns expected to outperform just about every traditional and cryptocurrency investment currently available. To better understand how the Axion Network offers this, let’s break it down into the aforementioned investment categories:
It is important to understand what a certificate of deposit (CD) is, since Axion’s investment product is the crypto equivalent of a CD. A certificate of deposit (CD) is a product traditionally offered by banks, brokerages, and credit unions worldwide, that provide their customers a favorable interest rate compared to a standard savings account. The premium is offered in return for the customer locking up their funds for an agreed-upon time period (months, years).
Unfortunately, traditional CDs just don’t offer any outstanding or appealing interest rates, with a majority of them well under 1.5–2%- yet the amount of capital invested in CDs worldwide is well into the trillions of dollars!
Axion provides its network participants a CD-equivalent product at a minimum/baseline interest rate of 8%, on the blockchain, for maximum safety, security, and transparency. Axion also introduces similar traditional CD features such as emergency unstake/withdrawal penalties to incentivize successful, longer stake periods. The interest rate that Axion offers its stakers is far more than any traditional CD investment/lock-in period on the planet.
Axion is a cryptocurrency. Because of this, several important and beneficial functions can be programmed into the smart contract(s) in which Axion operates on and within the Ethereum Network. Your investment is secured by trustless blockchain technology on the Ethereum network. Axion’s code has also been professionally audited several times by the top security firms in the space. In a separate article, we will discuss the enormous benefit(s) that these professional security and economic audit(s) provide.
As mentioned, several functions have been expertly programmed into Axion’s smart contract. If you do not know what a smart contract is, they can be described as computer code that self-execute or automatically execute specific function(s) or agreements, and are programmed on a decentralized network- or blockchain.
The functions of the Axion smart contract(s) include:
• Daily auctions.
• Token buybacks.
• Autostaked tokens from auctions.
• Freeclaims from HEX holders.
• Early exit and withdrawal fees.
• Lateclaim penalties.
• Fixed inflation rate.
• Network staking.
• Share distribution.
• Bonus multipliers.
• Implementation of longer stakes paying better.
• Calculation of payout pools.
• Automation of payouts.
• “BigPayDays” accruing yearly for stakers.
• Referral program.
Within all of these functions exists complex code that has taken expert development over several months. The majority of the code is also public for transparency on GitHub. There has also been an independent economics audit to ensure the platform has infinite operability for decades to come.
These are the benefits of Axion being a cryptocurrency on the world’s most popular and trusted blockchain- Ethereum. For more information, read the Axion Whitepaper found here.
A Global Currency.
Another important product in the Axion Network is the global payment solution- with partnerships already lined up, our network participants can pay for everyday items with the Axion cryptocurrency. Merchants can choose to accept Axion, or FIAT currency that’s converted from Axion!
Why is this important?
It’s important because it allows users to make an investment, earn incredible interest, and use both the staked principle + dividends from the interest accrued, for purchasing power of goods and commodities, or additional time-locked CDs within the Axion Network for continued value appreciation.
How do I stake?
You choose how you want to time-lock your tokens- on the Axion Network, you choose how you wish to stake your Axion to generate passive income. Want 100 separate investments that mature at differing time periods throughout the years? Done. Axion is built upon a proven model- the certificate of deposit system worth trillions of dollars in the traditional banking systems worldwide.
Since the platform is built upon the Ethereum network, users incur a “gas fee” or transactional cost to interact with the network, which pays for the network security as well as transparency. For every stake that users wish to make, there will be a gas fee incurred.
This was a rather brief introduction to the Axion Network and the Axion cryptocurrency, so stay tuned for several posts moving forward.
In these upcoming articles, we will discuss everything from:
• Purchasing Axion.
• The importance of security and audits.
• Staking strategies.
• The free-claims.
• The community.
• The ecosystem now and in the future.
• The auctions.
And so much more.