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Axion

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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The Axion VCA just had it's biggest single transaction placed into the auction. Someone just sent in 85ETH ($145k). They instantly got $14.5k returned in BTC and will receive aprx 362m AXN when the minimum 120 day stake period is up. They also get the bi-weekly VCA rewards in BTC for the length of that stake.

That's a pretty significant investment.

256ETH in total for yesterday's auction. 95% of which is distributed directly back to the stackers in BTC.

In 4 auctions (Friday, Tuesday, Friday, Tuesday) over 28.5 BTC ($1.5m) has been distributed to stakers of Axion, for free.

My share of that over 4 auctions is circa $300, which at the current rate will work out around $700 a month. I'm pretty damn happy with that.

Now is a great time for anyone else to get in. The price is at a great entry point and the APY for this is amazing when you consider the bi weekly BTC divs, the daily AXN divs and the annual BPD. BTC divs alone are coming in at around 40%. You are looking at a 2.5 year return on investment with divs alone, never mind price appreciation.

Correction on the above, I just logged in to check my BTC returns and I am at .006357 BTC so far, which works out at $358.43 currently.

So I am looking at closer to $800 per month in liquid BTC rewards for staking AXN. (aprx calculation, $90 per auction, 2 VCA auctions per week, 52 weeks in a year)

At current prices for both AXN and BTC my staked amount is paid back in just a little over 2 years, and everything earned after that is a completely free passive income.

What kind of APY% are you getting just from BTC vs invested Axion. Excuse my ignorance but from looking at it, I don't see where they can get the funds to pay out BTC which they have no control over unlike their own token.

Worried that the super long locked funds are just being used to pay out.

djan wrote: »

What kind of APY% are you getting just from BTC vs invested Axion. Excuse my ignorance but from looking at it, I don't see where they can get the funds to pay out BTC which they have no control over unlike their own token.

Worried that the super long locked funds are just being used to pay out.

The BTC is coming directly from the ETH people use to buy AXN through the biweekly VCA. The ETH is used to instantly buy WBTC, which is then distributed to stake holders based on their share percentage.

I am working out that at the current share allocation I am getting an aprx APY of 40% based on BTC alone.

This will help you play around with the figures to work out what any potential investment you make will return. https://axioncalc.com/

Share rate is what matters most, and the longer the stake the better the share rate.

Today's VCA auction looks like a sell out 12 hours ahead of closing time.

More lovely free BTC for me

New website. Looks slick. https://axion.network/ Very user friendly and crypto beginner friendly too.

Banner ad on Dextools.io this week aswell. Marketing is kicking off.

I am after getting $100 worth WBTC this week.
Still 9 hours left in auction.

Whelo79 wrote: »

There is currently 209Bn AXN ($103m) locked into stakes, with 73Bn ($36m) of that commited for 15 years. There is aprx 1Bn AXN a day being added to the the 15 years (5555 day) staking contract, which is currently acting as an amazing deflationary measure.

https://axion.today/overview

In 8 days these figures have grown to 212.3Bn AXN staked and 78Bn staked for 15 years.

There circulating supply is decreasing daily into long term stuffing contacts.

joe250 wrote: »

I am after getting $100 worth WBTC this week.
Still 9 hours left in auction.

Enjoy the income stream. I only see it increasing over time.

You are probably better off leaving it grow for a month or two before withdrawing so as not to be hit too hard by the ETH fees.

Are you keeping any Liquid Axion or is it all staked?
Once you receive wBTC is it best to withdraw straight away or does it just depend on GAS fees?
Thanks

80% of mine is staked for 15 years.
Have fee small stakes for 1,5 and 8 years.

I am going to withdraw my wBTC once per month.

There new Reddit started this week. Might be worth joining.
https://www.reddit.com/r/Axion/

Got to the bottom of why I wasn't getting the BPD. My stake is for 347 days. FFS.

I was sure I put it from Nov 16th to the 4th November 21, which would have been 351. But most likely between all the messing about with setting it up and days and dates I must have hit Oct 29th.

I signed up for the VC registration. Another €32 fee.

Grumpypants wrote: »

Got to the bottom of why I wasn't getting the BPD. My stake is for 347 days. FFS.

I was sure I put it from Nov 16th to the 4th November 21, which would have been 351. But most likely between all the messing about with setting it up and days and dates I must have hit Oct 29th.

I signed up for the VC registration. Another €32 fee.

GAS is a killer, I didn't understand how GAS worked when staking and submitted 6 Transactions not knowing that the blockchain will only process one at a time, wasted a load of GAS, didn't even want to know the monetary value.

joe250 wrote: »

80% of mine is staked for 15 years.
Have fee small stakes for 1,5 and 8 years.

I am going to withdraw my wBTC once per month.

There new Reddit started this week. Might be worth joining.
https://www.reddit.com/r/Axion/

The Discord channel is an excellent source of information and for keeping up to date.

RodVelvet wrote: »

Are you keeping any Liquid Axion or is it all staked?
Once you receive wBTC is it best to withdraw straight away or does it just depend on GAS fees?
Thanks

I'm 100% staked right now with a large portion of that for 15 years. I have a pretty big stake maturing in October and I can't decide if I should upgrade or now to 15 years or let it expire and potentially sell if the price has climbed. I expect 1c by the end of year to be honest.

I'll be doing the same as Joe re BTC, withdrawing once a month or maybe two months.

Grumpypants wrote: »

Got to the bottom of why I wasn't getting the BPD. My stake is for 347 days. FFS.

I was sure I put it from Nov 16th to the 4th November 21, which would have been 351. But most likely between all the messing about with setting it up and days and dates I must have hit Oct 29th.

I signed up for the VC registration. Another €32 fee.

Would you not have been tempted to upgrade that stake to Max Shares? You would significantly increase your share rate and the BTC divs you get from each auction.

The new updated and indepth Whitepaper has just been published.

https://axion.network/AxionWhitepaper.pdf

Whelo79 wrote: »

Would you not have been tempted to upgrade that stake to Max Shares? You would significantly increase your share rate and the BTC divs you get from each auction.

I was looking at it alright, but the 15 years scares me lol. Does the BTC keep paying and you can take that out and leave the stake in place?.

Just checked and it will cost me €200 to upgrade. Yikes

Grumpypants wrote: »

I was looking at it alright, but the 15 years scares me lol. Does the BTC keep paying and you can take that out and leave the stake in place?.

Just checked and it will cost me €200 to upgrade. Yikes

You will always receive BTC over the entire 15 years, twice a week for every auction as long as they last.

The V1 stakes are expensive to upgrade. What shares will your stake convert to? Work out the maths and you could have that €200 back within a couple of weeks.

They are also working on being able to convert your 15 year stakes into an NFT and sell them on to someone else.

There are now officially 5555 individual stakes for 5555 days! The Axion community has committed nearly 29% of total supply, 80BN Tokens, to Max Shares.

$2,000,000 in BTC has been distributed directly to stakers over the last 2 weeks. This is just the very beginning.

Whelo79 wrote: »

You will always receive BTC over the entire 15 years, twice a week for every auction as long as they last.

The V1 stakes are expensive to upgrade. What shares will your stake convert to? Work out the maths and you could have that €200 back within a couple of weeks.

They are also working on being able to convert your 15 year stakes into an NFT and sell them on to someone else.

It says your 1.18 mill shares would become 4.2 mill. Calculator says I'd get about €4 a week in BTC. My €400 would grow to €1300 with Can interest.

Grumpypants wrote: »

It says your 1.18 mill shares would become 4.2 mill. Calculator says I'd get about €4 a week in BTC. My €400 would grow to €1300 with Can interest.

Right now as it stands I'd say it's too small to upgrade to max shares. Maybe wait until Eth sort out the gas fees and then do it.

Anything before €1,000 is not really worth it currently.

Just seen an announcement that they are updating staking that could reduce fees by 20-40%.

For staking, unstaking and upgrading. Should be done tonight.

Grumpypants wrote: »

Just seen an announcement that they are updating staking that could reduce fees by 20-40%.

For staking, unstaking and upgrading. Should be done tonight.

Think it's completed now! The estimate in Metamask should be cheaper than it was.

Having flicked through the whitepaper, where does Axion earn the revenue for marketing etc. Is it through the auctions or the selling of the coins?

Got it upgraded today for €154 euro. Locked in for the 15 years. Should give a profit over the term. Any profit is still profit. I'll nearly be 60by the time I can unstake. That is scary

RodVelvet wrote: »

Think it's completed now! The estimate in Metamask should be cheaper than it was.

Having flicked through the whitepaper, where does Axion earn the revenue for marketing etc. Is it through the auctions or the selling of the coins?

20% of the ETH from daily auctions goes to the dev team while only 5% of VCA auctions goes to dev team. This money is used for all project expenses.

Someone just staked 1.3bn tokens ($733,000) for 5555 days. :O

Is there a minimum amount you have to invest in ?

Theman343 wrote: »

Is there a minimum amount you have to invest in ?

There isn't, but there are warnings on the auctions that the GAS fees may wipe out any return if your stake is below 1500 dollars. The amount of GAS required should now be reduced but I think that is their basic rule.