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Axion

el diablo

The other thread is getting clogged up with Axion related posts and only a tiny handful of posters are interested in this project. So maybe you can post your Axion related stuff here.

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myshirt

Such are the gas fees for interacting with this contract, no point staking short.

I've a few stakes across 1-3 month maturity periods now.

Whelo79

Nice little article here promoting Axion as a safe alternative to conventional crypto trading.

https://zerohedge.com/news/2020-12-11/cryptocurrencies-revisited-why-investors-are-justly-skeptical-about-traditional

Whelo79

4 days ago I staked 25m AXN for 30 days and have already received over 500k AXN in interest/divs. The price is temporary, but the accumulated AXN is permanent (until you sell). Serious rewards to be had here.

Tango One

Whelo79 wrote: »

4 days ago I staked 25m AXN for 30 days and have already received over 500k AXN in interest/divs. The price is temporary, but the accumulated AXN is permanent (until you sell). Serious rewards to be had here.

Whelo your like our axion cult leader you talked me into restaking for a month

Whelo79

Tango One wrote: »

Whelo your like our axion cult leader you talked me into restaking for a month

Haha, I'm definitely no cult leader. At the current price you definitely don't want to just have your coins sitting liquid, unless you are going to be constantly trading and trying to time highs and lows.

There is so much to be made from staking it just makes sense to stake. For me it's all about forgetting short time price action and accumulate AXN through interest/divs/auction. Of you can lock your AXN away for 12+ months that's even better. When the Dev fund is removed the stake percentage for this project is over 80%, that's huge.

deathbomber

Whelo79 wrote: »

Haha, I'm definitely no cult leader. At the current price you definitely don't want to just have your coins sitting liquid, unless you are going to be constantly trading and trying to time highs and lows.

There is so much to be made from staking it just makes sense to stake. For me it's all about forgetting short time price action and accumulate AXN through interest/divs/auction. Of you can lock your AXN away for 12+ months that's even better. When the Dev fund is removed the stake percentage for this project is over 80%, that's huge.

I know we all live the crypto dream but your dream with Axn is a dream too far.

Whelo79

deathbomber wrote: »

I know we all live the crypto dream but your dream with Axn is a dream too far.

Thank you for your reasoned, well researched and articulated opinion, internet stranger.

Whelo79

https://axionstats.info/

Nice little statistics page here showing everything from price, circulating supply, total supply to percentage of AXN staked and average stake length.

Dohnjoe

Tried a one month stake there to test it, requires 40 euro worth of Eth fees just to unstake, jesus christ

Whelo79

Dohnjoe wrote: »

Tried a one month stake there to test it, requires 40 euro worth of Eth fees just to unstake, jesus christ

The fees are all to do with timing. Try again later and you will see a difference. I notice the highest ETH fees are usually between 11am to 3pm. It's all to do with traffic volume on Uniswap at the time.

Grumpypants

Dohnjoe wrote: »

Tried a one month stake there to test it, requires 40 euro worth of Eth fees just to unstake, jesus christ

Whole set up is terrible. Any transaction costs at least a fiver and you have to do 2-3 each time you want to do anything.

I put 1ETH in to the auction and got 1.8mill. 14 days later and you can get 4.4mill for 1ETH.

And I had to pay about €20 in gas fee for the privilege of having my money halved.

At the rate the price is crashing and the cost of doing anything I'm surprised anyone is still putting money into it.

Whelo79

Grumpypants wrote: »

Whole set up is terrible. Any transaction costs at least a fiver and you have to do 2-3 each time you want to do anything.

I put 1ETH in to the auction and got 1.8mill. 14 days later and you can get 4.4mill for 1ETH.

And I had to pay about €20 in gas fee for the privilege of having my money halved.

At the rate the price is crashing and the cost of doing anything I'm surprised anyone is still putting money into it.

3 years ago people were paying 20k for 1BTC plus huge transaction fees for the pleasure of doing so, and a week later the price halved, what's your point exactly?

Every action you are doing is an interaction with the blockchain, these have to be paid for, there's no way around it. ETH 2.0 is supposed to solve these high gas fees, until then it's just a case of timing when to make your transactions or choosing the slow transaction speed.

deathbomber

Whelo79 wrote: »

Thank you for your reasoned, well researched and articulated opinion, internet stranger.

Stranger knocking around for years here (different name)and in the game a lot longer than you :pac: do the maths.

Hope everybody is enjoying the ethlend(aave), neo, dot, btc, eth etc etc) after my non well informed research. a few of many back in the day.

You are on to a non runner with AXN and as for the total supply :eek: farcical, but don't get me wrong, i wish you well and a whole lot of luck

Whelo79

deathbomber wrote: »

Stranger knocking around for years here (different name)and in the game a lot longer than you :pac: do the maths.

Hope everybody is enjoying the ethlend(aave), neo, dot, btc, eth etc etc) after my non well informed research. a few of many back in the day.

You are on to a non runner with AXN and as for the total supply :eek: farcical, but don't get me wrong, i wish you well and a whole lot of luck

A little more articulation here, but you remain an internet stranger and your comment is still lacking in reason or evidence of research behind said opinion except for three comments regarding the supply.

dougal0691

axion are doing an update incase anyone is panicking at the price drop.

"@everyone
DO NOT DO ANYTHING WITH CURRENT AXION
DO NOT BUY/SELL
DO NOT INTERACT WITH LAYER ONE CONTRACT
ANYTHING AFTER THE LAST BLOCK OF LAYER ONE WILL NOT BE CARRIED OVER TO LAYER TWO

YOUR STAKES ARE SAFU

LAST BLOCK NUMBER OF LAYER ONE IS 11472474

JOIN OUR LAYER TWO UPGRADE LIVESTREAM

https://www.youtube.com/watch?v=FpprtFbKWaM&feature=emb_title"

@everyone
Migration PDF uploaded to site
https://axion.network/pdf/axion-migration.pdf

Whelo79

https://axion.network/pdf/axion-migration.pdf

The full url with details on the layer 2 deployment.

Whelo79

@everyone
All airdrops are complete, everyone should have their exact liquid AXN amount back in their wallet.

All stakes from layer one are migrated to layer two, no one has to do anything there.
DO NOT INTERACT WITH THE LAYER ONE CONTRACT AT ALL (Including via Web3)

Add the new AXN token contract:
0x71f85b2e46976bd21302b64329868fd15eb0d127

Uniswap Link:
https://app.uniswap.org/#/swap?outputCurrency=0x71f85b2e46976bd21302b64329868fd15eb0d127

Read Migration PDF if you haven't:
https://axion.network/pdf/axion-migration.pdf

myshirt

I have the liquid Axion back in my wallet but it's worth like 100 times less. Hopefully that's simply a bug.

Whelo79

myshirt wrote: »

I have the liquid Axion back in my wallet but it's worth like 100 times less. Hopefully that's simply a bug.

Check through Uniswap, 1ETH = 4.6m AXN. So same price as before the layer 2 release pretty much.

myshirt

Whelo79 wrote: »

Check through Uniswap, 1ETH = 4.6m AXN. So same price as before the layer 2 release pretty much.

It should normalise soon enough so. Coinbase tracker showing it as falling off a cliff xD

Whelo79

https://www.dextools.io/app/uniswap/pair-explorer/0xaadb00551312a3c2a8b46597a39ef1105afb2c08

Follow the real price here too.

Whelo79

Here's some detail on the credit card launch that Axion is in partnership with. Touted as the first cryptocurrency CREDIT card

https://connectfinancial.medium.com/connect-financial-ama-7ac18bd3d3f

AXN specific announcement

https://connectfinancial.medium.com/connect-financial-membership-update-af2f39eb656f

Some Q&A from their discord.

Q: Will there be cash back?
A: We are working out the figures to be able to provide Crypto Back as a reward. We offer a full points reward system and will have Crypto as an option.

Q: Are there special perks for having the Connect Card? (Airport lounge, cash back, etc.)
A: Yes, on top of crypto related perks, we do have a fully developed rewards program that exceeds anything else in the Crypto Card genre. This includes Airfare, Hotel, Travel, Shopping etc

Q: Can I actually pay with Cryptocurrency?
A: Yes! You can pay for purchases using cryptocurrency, or take advantage of the credit available and pay at a later date. Choose to pay off your credit balance by traditional bank transfer, with additional cryptocurrency, or by using your deposited balance. This flexibility helps you manage your finances in exactly the way you want.

-You can also spend your cryptocurrency straight from the card at point of sale. Conversion takes place right at the checkout using the latest local rates.
-Use your Connect Card for fiat currency, all major cryptocurrencies and Ethereum tokens.

Q: Can I use other approved tokens for collateral as well? If so, which exchange will you use to swap?
A: Yes, all major cryptocurrencies that have a substantial liquidity network will be available to be used as collateral (BTC, LTC, ETH, AXN, XRP, and BCH for example). We have an exchange that is accessible to our users, plus easy OTC purchases/sales that do not require the difficulty of navigating an orderbook. We also are integrating with DEFI projects to provide an option to utilize them for other tokens that may not be allowed on the formal exchange.

And details on the special perks for Axion holders stakes for 5555 days.

Axion 5555 Membership Sale

Connect, in conjunction with Axion, are excited to bring this exclusive opportunity to the Axion 5555 Members group. The initial presale is only open to eligible 5555 Axion members, and only if paid from your verified 5555 Ethereum Address. Any payment received from an address that is not verified will not be eligible and will be refunded minus gas fees. The form to participate will be shared ONLY in the 5555 Axion Discord channel. The official Public contract will open on approximately Monday, December 21st. Your Connect Tokens will be released to you at that time, but they will be locked in your address until January 1st, the same as all Connect Tokens purchased through the Public Contract Sale.

Initial Membership Sale for 5555 Group: All members of the 5555 Axion group will receive the following benefits:
1. You are able to purchase Connect through this form at presale price of $0.075 (25% discount). This price is only available through this form. You are able to purchase a maximum of 66,666 Connect through this opportunity.

2. When you hold a minimum of 50,000 Connect in the same address as your 5555 NFT (or in the verified address that is eligible for NFT) you will receive a tier upgrade on your card benefits. Instead of being eligible for Gold status, you will receive Platinum Card Tier with all the perks and privileges held by that tier. This does not impact your staking weight or earnings.

3. You will be eligible for a limited edition Axion 5555 card. The final design is not agreed on yet. Jack and I will work with the community to finalize a design.

4. Connect Wallet and App will support Axion as a “Native” coin in all parts. Our staking opportunities will prominently display Axion as an option.

Sounds interesting to say the least.

Whelo79

Axion is adding a sort of mutual fund/venture capital initiative to it's model. They are eliminating the freeclaim mechanism for HEX holders (as so many of them are not claiming) and altering how the auctions work. The aim is to significantly incentivise people to stake the token rather than trade. Staking is already at aprx 80% but they want to boost this further to 95%+

Four auctions a week will have a minimum of 250m AXN available which will function as normal, 80% of ETH goes to buyback the AXN token which is distributed as dividends.

There will be now two larger weekly auctions (unsure of amount of AXN in the auction). 95% of the ETH put into this auction will be used to purchase BTC and one community voted token (which will change weekly). People buying from the auction will get their full allocation of AXN and 20% of their deposited ETH amount back as a 50/50 split between BTC and the chosen community token. The remaining BTC and chosen token purchased will be distributed to stakers as liquid assets (no mandatory staking required).

All AXN purchased from the auctions will now be autostaked for a minimum of 60 days (increased from 14) and will have a sliding scale for the purchaser to stake for longer.

The community is voting on the initial proposals at the moment and it looks like they will pass with a big majority.

myshirt

How can you receive BTC from this new model? I don't get it. It's an Ethereum address.

grindle

myshirt wrote: »

How can you receive BTC from this new model? I don't get it. It's an Ethereum address.

Wrapped BTC [WBTC] presumably. It'll be the main way BTC is used either as collateral or for small transactions once Ethereum scales given there's well over 100x the amount of WBTC locked into Ethereum vs Lightning Network.

myshirt

Anyone getting in on the Connect Card? Need to find time to read about it more. Do you have to buy an amount of their token to place you into one of their customer tiers?

I'd be interested in using it simply as a mechanism to spend my Axion interest. Not interested in using it as a traditional credit card. Certainly not interested in loading private keys onto it.

Whelo79

myshirt wrote: »

Anyone getting in on the Connect Card? Need to find time to read about it more. Do you have to buy an amount of their token to place you into one of their customer tiers?

I'd be interested in using it simply as a mechanism to spend my Axion interest. Not interested in using it as a traditional credit card. Certainly not interested in loading private keys onto it.

I will get one at some stage, I just don't have the cash at the moment to buy into the tiers. Raging I missed out on the discounted price.

Dnxncofiruwvx

Not to rain on anyone’s parade here - but it boggles the mind that anyone would invest in this now.

The recent hack, the horrendous price movements, the charts look like dogsh*t. I know an element of any investing is gambling, and crypto even more so, but there is so many other coins with much less risk/ reward ratios I can’t understand why people are pouring Eth’s into this.

Sure it might come back but why take the risk? Curious to hear from people who have invested recently what the mindset was?

Whelo79

Dnxncofiruwvx wrote: »

Not to rain on anyone’s parade here - but it boggles the mind that anyone would invest in this now.

The recent hack, the horrendous price movements, the charts look like dogsh*t. I know an element of any investing is gambling, and crypto even more so, but there is so many other coins with much less risk/ reward ratios I can’t understand why people are pouring Eth’s into this.

Sure it might come back but why take the risk? Curious to hear from people who have invested recently what the mindset was?

It's a project that is around 7 weeks old. The potential here is huge. Short sightedness is one of many crypto investors biggest weeknesses, as is blind loyalty as I'm well aware.

The relaunch from the 'hack' is something that has never been done before, it's something the team and community does not get enough credit for. The price volatility does not bother me one bit, every crypto project has 'horrendous' price movements, it's the way of crypto.

I'm making a huge amount in dividends from my staked AXN (again I'm aware this is potentially worthless if the price tanks) and with the new planned venture capital fund paying out liquid WBTC on a bi-weekly basis there are been more positives for stakers.

CoD savings accounts are very popular in general, so why not a crypto version? Add in the link with crypto's first credit card and being one of the few coins which will be available as a native token directly available to purchase and spend, and you have many reasons to be bullish for the future of this project.

When you see the work being put in by the dev team, and how open they are on Discord, it gives you a lot of confidence in the potential here.

Somewhere between 1c-5c is the highest potential price in my opinion, and getting in know at .00012 offers HUGE opportunity on returns (without even taking rewards for staking onto account).

What do you think happens first, AXN goes to .0004 and you treble your money, or BTC goes to 66k and you treble your money?

Dnxncofiruwvx

Whelo79 wrote: »

It's a project that is around 7 weeks old. The potential here is huge.

I mean it is and it isn’t, Axion has been built on top of another token which has been around for a while, so not like like it came out of the blue 7 weeks ago.

Whelo79 wrote: »

The relaunch from the 'hack' is something that has never been done before, it's something the team and community does not get enough credit for. The price volatility does not bother me one bit, every crypto project has 'horrendous' price movements, it's the way of crypto.

Not sure why hack is in commas, as that’s exactly what happened? Sure you can call it something else, exploit etc, but at the end of the day the network was hacked. Projects can come back from hacks and even rug pulls (Sushi being a notable example although not technically a rug), but it is a reason to be cautious.

But price volatility at the launch of a new token should bother you, especially when that volatility is pretty much a vertical line down. Its down what - 70/80% from its ATH, and that’s only in 7 weeks? And that’s just the USD value, given the recent moves in BTC and even ETH it must be twice that for its crypto pairs. My question was why are people investing now and trying to catch the knife instead of at least waiting for a bounce off support and confirmation of a trend reversal?

Whelo79 wrote: »

I'm making a huge amount in dividends from my staked AXN (again I'm aware this is potentially worthless if the price tanks) and with the new planned venture capital fund paying out liquid WBTC on a bi-weekly basis there are been more positives for stakers.

Ah the massive staking, I’m hearing stories of 80-100% APY, does that not concern you? Where are these tokens coming from? Are they just distributing new tokens to cover the rewards? Also, everyone doubling their tokens every year, surely the value gets ruined with inflation after about 18 months? Or are they doing massive buybacks too? And if they’re running massive buybacks then why the huge returns in the first place? Where’s the money coming from for both the 90% returns and the buyback and token burns?

I’m trying to learn about the project, but from what I can see it screams a ponzi. Daily auctions, impossibly high returns, a confusing value proposition (Is it the new Bitcoin (as it states on the website)? Is it a CD savings account (as it also states on the website)? Is it a crypto credit card company (as stated here)?

Whelo79 wrote: »

CoD savings accounts are very popular in general, so why not a crypto version? Add in the link with crypto's first credit card and being one of the few coins which will be available as a native token directly available to purchase and spend, and you have many reasons to be bullish for the future of this project.

This credit card thing I don’t get, why would anyone (apart from enthusiasts), get a crypto credit card and jump through all the hoops to get set up on exchanges etc, when they can just get one from a bank which is 100 times easier? Sure some people will, but 99.9% of ordinary people won’t, it’s just too niche.

Whelo79 wrote: »

Somewhere between 1c-5c is the highest potential price in my opinion, and getting in know at .00012 offers HUGE opportunity on returns (without even taking rewards for staking onto account).

Nothing in the charts gives any indication that the price will ever get to that level, neither does the history of the project (previous ATH being at that level for example), neither does a comparison to any other project, asset or commodity (people speculation that BTC could hit 500k usd as this is golds market cap, for example). Curious where you got those numbers from, I’m guessing you’re running on a gut feeling?

Whelo79 wrote: »

What do you think happens first, AXN goes to .0004 and you treble your money, or BTC goes to 66k and you treble your money?

But every project can say that, it doesn’t mean it’s a good investment. I think it’s more likely ETH triples in value before BTC does, so why don’t I just put my money in there, the risk/reward is much more favourable?