Axion

Whelo79 wrote: »

Ive staked 25m for 12 days to cover across the first two auctions and see what type of returns I get out of that. The rest of my holdings are across 1-3 year stakes and one stake of 2.5m over the maximum 5555 days as a long shot gamble for a retirement fund

Thats a big stack for an outside alt, hope it pays off

Dohnjoe wrote: »

Thats a big stack for an outside alt, hope it pays off

So do I

Tango One wrote: »

When is the second auction?

The big weekly auction is every Friday. There are smaller daily auctions every day (which have all been oversubscribed so far).

Dohnjoe wrote: »

Basically with the auction we're trying to see if we can buy it at better than market price?

Pretty much.

The auction price is capped at no better than 10% below the average weekly price. So this big spike in the last 24 hours will result in a huge discount v current market price in the auction. Also 'whales' can buy huge amounts not normally available on the open market without having to pay a premium as the price spikes with their big buy. Add to that the option to use a referral code and get an additional 10% on top of your purchase amount and there is huge potential for good discounts.

All auction purchases are then autostaked for 14 days to prevent against arbitrage.

Dohnjoe wrote: »

Good, I might try it out, when does the auction window open for the big one tomorrow and is it recommended to get the bid in early?

I think it starts around 4am our time, lasts 24 hours. There is no advantage to getting in early. I'd recommend to get in late so you can see the share price and see how much ETH has already been commited. The auction page gives the exact breakdown of auction rate per ETH vs Uniswap price for ETH so you know what the best rate is.

Don't forget to use a referral to get that extra 10%. My referral is in the referral page if you want it.

Just had a 200ETH but a moment ago and the price touch .0007.

Pdoghue wrote: »

Anyone know a good site for looking at historical price of AXN and other crypto? They all only seem to go back 5 days.

Maybe coingeko and look for Hex2t

Pdoghue wrote: »

Just want to find out how much ETH I used to buy HEX2T at the time.. Not apparent on Etherscan.

you'll have to use the date to judge how much ETH was on the day
https://coincost.net/en/currency/hex2t

Pdoghue wrote: »

Just want to find out how much ETH I used to buy HEX2T at the time.. Not apparent on Etherscan.

If you used metamask will it show you yoir trade details, or will Uniswap show you in your activity history?

Thanks -found it now.

New ATH, .0007.

Can I start posting about it in the excited thread again because I am damn excited

Whelo79 wrote: »

New ATH, .0007.

Can I start posting about it in the excited thread again because I am damn excited

You took a serious gamble on this looking at your address, well done. Take profits though imho

Pdoghue wrote: »

I'm thick. Can someone explain the auction price vs the Uniswap price. Looking at today's action now, the auction price is way more than 10% below the Uniswap price.

Auction price is 10% below the weekly average price.

dougal0691 wrote: »

1 eth in the auction = 350,000 axn
1 eth on uniswap = 700,000 axn

I'm not understanding it either.

The daily auctions today is oversubscribed. Too many people adding ETH and reducing the share. I think there is only 17m in today's auction and over 30ETH added.

But oversubscription is great for stakers because 80% of ETH added to auctions automatically goes to buying back AXN from Uniswap (pushing price up) and the purchased AXN is then shared among those who have staked.

Credit card integration on the way for Axion

joe250 wrote: »

Still can't figure out is it worth buying in the auction?

The auction currently gives you 1.3m AXN per ETH + 10% if you use a referral. So 1.43m aprx

The current Uniswap price gives you 1.07m AXN per ETH.

You are getting 40% extra through the auction right now.