Axion

Whelo79 · 13-11-2020 7:49pm

If anyone is thinking of buying through the daily auctions there is a referral programme in place. The purchaser gets an extra 10% and the owner of the referral code gets a bonus 20% of what the purchaser buys. Anything you buy from the auction is auto staked for 14 days.

I'd be very appreciative if anyone buying would use my referral: https://stake.axion.network/auction?ref=0x9dc74454b58afbd6036f58d74cc39c711b2eeaab

Current Uniswap price is 1ETH = 1,693,975 AXN
Current Auction price is 1ETH = 2,033,484 AXN (plus additional 10% extra for using a referral).

Whelo79 · 13-11-2020 8:02pm

Dohnjoe wrote: »

How does it work with the "shares" you get for staking, where are they held and represented exactly?

It basically determines your payout at the end of the stake.

From the whitepaper:

Total Shares Issues = (Axion Staked * Bonus Multiplier) / Share Rate
At the beginning of the platform, the Global Share is 1 and is designed to always increase.

Increasing Share Rate
The idea of an always increasing Share Rate is to benefit the stakers which were early to stake their Axion. As the Share Rate increases, the shares issued decreases even if the staker is staking the same amount of Axion for the same duration. This is done to always make sure that the staker who staked early has better return then the staker who came late.

Calculation of the New Share Rate
Every time a user ends their stake, they burn the shares they held. At this point, the platform runs an inverse share conversion function to calculate the new share rate. The platform uses the payout (principal +interest) received at the end of the stake, the duration of the stake and the number of shares destroyed as the stake ends, to compute the new share rate. The new
share rate reflects the rate at which a user gets the same number of shares destroyed for staking all the Axion minted (post the end of the stake).

Calculation:
Initially as stake begins: shares = (input Axion + bonuses(factoring input Axion, stake days)) / Share Rate.
Inverse calculation after stake ends; New Share Rate = ((input Axion + payouts) + bonuses((factoring input Axion + payouts), stake days)) / shares destroyed

Result: If New Share Rate > Global Share Rate, New Share Rate will be used as Global Share Rate

Thus, if the New Share Rate is higher than the current global Share Rate, the global Share Rate is updated. If not, it remains the same.

Dohnjoe · 13-11-2020 8:07pm

Clever ****ing mechanism to keep people from selling and reducing price too much

Whelo79 · 13-11-2020 9:05pm

Dohnjoe wrote: »

Clever ****ing mechanism to keep people from selling and reducing price too much

Exactly. This, coupled with the auction buy back, is why I reckon the price on this one is only going in one direction long term.

They say it's 8% passive returns but in reality it will be way more than that. You are looking at about 20% minimum per year I reckon.

The additional BPD's should hopefully protect against any large scale sell offs after BPD1.

Grumpypants · 13-11-2020 9:31pm

Do I need more ETH for gas for stalking?

Trying to deposit and nothing is happening again.

Dohnjoe · 13-11-2020 10:18pm

Grumpypants wrote: »

Do I need more ETH for gas for stalking?

Trying to deposit and nothing is happening again.

A small amount. Stop spending every penny, jesus

Whelo79 · 13-11-2020 10:39pm

Grumpypants wrote: »

Do I need more ETH for gas for stalking?

Trying to deposit and nothing is happening again.

Every transaction charges gas. It was about $7 a transaction earlier when I was doing mine

Whelo79 · 14-11-2020 12:54pm

Really nice touch from the Axion founder here. I don't hate much in life, but if there is one thing that really sickens me it is to see the destructive impact humans are having on the earth. This pledge is awesome.

@everyone

There’s something that I’ve never brought up to this community before. Now that everything is live and running smoothly, it’s time.

I am wildly passionate about reforestation, biodiversity, saving animals, and creating a healthy and thriving planet for future generations. When I see plastics, pollutants, and deforestation running rampant in our world, animals dying, and ecosystems going extinct, it pains me more than anything else.

Around the world, animals are helpless to the destructive effects of humanity. As a species, we have become the catalysts of mass-extinction, and it’s only going to get worse, unless we do something about it.

I believe that reforestation is the key. Creating an ecosystem, where animals are free to live without human interference not only benefits the animals, but the soil, the frequency of rainfall, and can absolutely transform the landscape. Humans rely on animals a lot more than we’d like to admit, it’s in our best interest. Deserts can be turned into lush forests, it just takes intentional effort.

All this said, I personally pledge that 1% of all ETH that goes into the auction will be donated to The Eden Reforestation Project, where $0.10 ensures that a tree is planted, and cared for until full maturity. In the process, this employs thousands of people living in poverty in developed nations, and gives them newfound hope in their lives. The Eden Reforestation Program is absolutely incredible.

This 1% does not affect anything involved in the Axion ecosystem, it is not part of the 80% for buybacks and staking, and it does not require anyone to donate, nor to have any opportunity-loss.

Just know that when you enter that auction, you are not only carving out a better future for yourself, but for the world around you as well.

I highly suggest giving this video a watch pray

https://youtu.be/goKinj8ya-E

https://edenprojects.org/

Whelo79 · 16-11-2020 9:58am

Some potential maths for this Fridays first big weekly auction and some numbers on the amount of AXN that has already been staked since launch.

@everyone

November 20th Auction Math

12.576 Billion AXN is already in the auction, and growing
Current Auction Price 1.345 Million per ETH

The following numbers will use the current auction allocation, which is of course an under-estimation, as the auction is growing daily

Assuming the auction fills, (The next day after Hex BigPayDay):
12.576 Billion AXN / 1.345 M per ETH = 9349 ETH
80% for buybacks = 7479 ETH ($3,365,000) will be used as buy pressure

Currently, $12,250 moves the price 2%.
$3.3M buy pressure / 12,200 = 551% increase

Of course, as the price increases, the liquidity depth increases as well, so it will be marginally less than 551% worth of buy pressure. This does not mean we will increase 551%, as there inevitably will be selling pressure as well, but paints a fairly good picture of what is en-route within the next few days.

In addition, $3.3M in AXN will be distributed proportionally to current AXN stakers.
If there was ever a time to get in the staking portal, this is it.

Staking stats as of 24 hours ago:
98.7 Billion out of 156 Billion AXN has already been staked.
(Approximately $25M USD)

3.5 Billion Axion has been staked for 5555 days by 652 people
(Approximately $0.9M USD)

In other news:
-We have our youtuber and traditional media campaign kicking off VERY shortly as well, with some content and exposure scheduled to go live before the big auction on the 20th.

-Credit cards and mobile payment app integration also progressing very niceley

-Axion Mobile App and online stats dashboard are also underway.

- The community dev team has assembled and priorities of development are being delegated, so that we can continue to expand this ecosystems strength indefinitely.

Tango One · 16-11-2020 11:48am

Can you unstake at any time whelo?

Grumpypants · 16-11-2020 11:50am

Tango One wrote: »

Can you unstake at any time whelo?

I think you can but for a heafty penalty fee.

Whelo79 · 16-11-2020 1:43pm

Tango One wrote: »

Can you unstake at any time whelo?

Technically yes, but as Grumpypants said there are big penalties.

Some people staked on day 1 and ended their stake on day one and forfeited 100% of their stake!

The forfeit works on a percentage basis I guess. If you stake for 300 days and end the stake after 150 you forfeit 50%. I am not 100% sure if that is exactly how it works as I don't intend on ending any stakes early.

Dohnjoe · 16-11-2020 1:47pm

Whelo79 wrote: »

Technically yes, but as Grumpypants said there are big penalties.

Some people staked on day 1 and ended their stake on day one and forfeited 100% of their stake!

The forfeit works on a percentage basis I guess. If you stake for 300 days and end the stake after 150 you forfeit 50%. I am not 100% sure if that is exactly how it works as I don't intend on ending any stakes early.

If there is an insane bull run people might be tempted, that's because the value can fall a significant amount after (e.g. -95% in 2018)

Tango One · 16-11-2020 1:47pm

I staked for 14 days just to see how it works

KilOit · 16-11-2020 2:07pm

Fees are crazy to stake, was quoted 12$

Tango One · 16-11-2020 3:00pm

KilOit wrote: »

Fees are crazy to stake, was quoted 12$

I was charged $3 this morning,

Pdoghue · 16-11-2020 6:33pm

I'm trying to stake now, trying to charge me $175 for the slowest processing time. Ph**k that.

Dohnjoe · 16-11-2020 6:35pm

Pdoghue wrote: »

I'm trying to stake now, trying to charge me $175 for the slowest processing time. Ph**k that.

Nah there's something up with that, that isn't correct

dougal0691 · 16-11-2020 6:53pm

Pdoghue wrote: »

I'm trying to stake now, trying to charge me $175 for the slowest processing time. Ph**k that.

from the axion telegram group a few days ago.

"Many announcements to come out today and over the weekend, but just a quick one regarding the MetaMask error in which it showcases a gas fee in the hundred(s) of dollars- of which some people are receiving error messages for.

That's not a normal transaction cost, and you shouldn't try to process it.

Several users are reporting this MetaMask issue being fixed from basic troubleshooting tips: clearing your cache, re-loading your browser, and re-logging into MetaMask.

Trying again at a later time is helpful, too. There is still over 13 hours in the day to make your transactions. Time left for the day can be found in the Auction portal."

Grumpypants · 16-11-2020 8:32pm

It is a bit much. Pay to move ETH to wallet. Pay to buy HEX2T, pay to burn it, pay to receive Axn. They screw up.
Pay to burn Hex3t, pay to get AXN again.

Pay to stake. If you want to stake for 1,2,3,4,5 years that is 5 separate payments.

I'll be broke by the time it invests.

rapul · 16-11-2020 9:23pm

That's madness

Whelo79 · 16-11-2020 9:54pm

Grumpypants wrote: »

It is a bit much. Pay to move ETH to wallet. Pay to buy HEX2T, pay to burn it, pay to receive Axn. They screw up.
Pay to burn Hex3t, pay to get AXN again.

Pay to stake. If you want to stake for 1,2,3,4,5 years that is 5 separate payments.

I'll be broke by the time it invests.

That's not Axions fault, that's how the ETH network works. You have to pay gas making any trades, swaps, moving between wallets etc.

Gas prices on Uniswap have been mad at times over the last few weeks. Each of my stakes cost me a minimum of $9 each the other day. In saying that, my interest has earned me $17 dollars already (3 days) at current AXN price.

Whelo79 · 18-11-2020 2:01pm

A nice little stats website on Axion here to keep track of any change in growth. Some amount of staking taking place so far.

https://axionstats.info

Whelo79 · 18-11-2020 3:09pm

Here's a nice overview on Axion from just before the initial failed launch to now, and everything that took place in between. It's a nice little read.

https://techloot.co.uk/axion-strong-relaunch/

Whelo79 · 18-11-2020 9:26pm

Axion getting ready for Fridays big auction hopefully.

Up 33% on the last 24 hours

https://www.dextools.io/app/uniswap/pair-explorer/0x0d0f908ad29bd8a9f8d99533e3ad69e2e40f3094

Whelo79 · 18-11-2020 11:03pm

Whelo79 wrote: »

Axion getting ready for Fridays big auction hopefully.

Up 33% on the last 24 hours

https://www.dextools.io/app/uniswap/pair-explorer/0x0d0f908ad29bd8a9f8d99533e3ad69e2e40f3094

72% now, and we are still around another 25% away from the ATH in presale.

Fingers crossed that Friday sees a mega pump.

KilOit · 18-11-2020 11:23pm

keeps going up and up, itching to sell

Whelo79 · 19-11-2020 12:42am

KilOit wrote: »

keeps going up and up, itching to sell

You should be staking. Even short term across these first few big weekly auctions. There will be some nice interest to earn.

Alternatively you could risk selling during Fridays big auction and bet on the price dropping off over Saturday to Wednesday before the next weekly auction. It's a risk. Plenty of ways to play this, but for me I'm staking everything. I have 60% on long term stakes and 40% on a short term 12 day stake.

Whelo79 · 19-11-2020 9:24am

.0005 now. 102% up in 24 hours. I really hope some of you got in on this. Mad to think it briefly dropped to .00015 immediately after the mainnet launched 6 days ago.

This still has A LONG way to run. I conservatively see .005 in the first half of 2021, with .01 not being out of the question.

KilOit · 19-11-2020 9:36am

Whelo79 wrote: »

You should be staking. Even short term across these first few big weekly auctions. There will be some nice interest to earn.

Alternatively you could risk selling during Fridays big auction and bet on the price dropping off over Saturday to Wednesday before the next weekly auction. It's a risk. Plenty of ways to play this, but for me I'm staking everything. I have 60% on long term stakes and 40% on a short term 12 day stake.

Raging I didn't sell. Was at. 00042when I post then it dropped to. 00035. Would of made a lot more than staking it.
I'll flip it later if it really pops

Tango One · 19-11-2020 9:41am

It's up to 0.000529 still flying

KilOit · 19-11-2020 9:48am

At what time do they use eth to buy back? Bit confused by that part

Whelo79 · 19-11-2020 9:49am

KilOit wrote: »

At what time do they use eth to buy back? Bit confused by that part

It's automatically bought by the smart contract the moment someone commits ETH to the auction.

dougal0691 · 19-11-2020 11:35am

Whelo79 wrote: »

It's automatically bought by the smart contract the moment someone commits ETH to the auction.

when will the hex that was converted to axion be unlocked. Will there not be a massive sell off then if the price is high?

KilOit · 19-11-2020 12:02pm

X5 my stack now. If I wasn't in work I'd sell. Hope it holds till I get home. People should take profit with this at this price, in my experience it always retraces no matter what it is

Whelo79 · 19-11-2020 1:05pm

dougal0691 wrote: »

when will the hex that was converted to axion be unlocked. Will there not be a massive sell off then if the price is high?

HEX freeclaims are automatically staked for 12 months. There will be no big sell off there.

Whelo79 · 19-11-2020 1:08pm

KilOit wrote: »

X5 my stack now. If I wasn't in work I'd sell. Hope it holds till I get home. People should take profit with this at this price, in my experience it always retraces no matter what it is

Definitely sell if you are happy with what you have made, BUT the first weekly auction happens tomorrow.

There is over 14Bn Axion in the auction and 80% of all ETH used in the auction instantly purchases AXN from Uniswap. There should be HUGE buy pressure tomorrow. We could be looking at anywhere from a x2 to x5 depending on how many take part in the auction. It's the first one, so who knows how it will go.

KilOit · 19-11-2020 1:22pm

Whelo79 wrote: »

Definitely sell if you are happy with what you have made, BUT the first weekly auction happens tomorrow.

There is over 14Bn Axion in the auction and 80% of all ETH used in the auction instantly purchases AXN from Uniswap. There should be HUGE buy pressure tomorrow. We could be looking at anywhere from a x2 to x5 depending on how many take part in the auction. It's the first one, so who knows how it will go.

It's all great but I'll take it with a pinch of salt. Not left bag holding like 2017 again. Raiblocks went up crazy as well and look at it now, had the same with ant shares, x150 and now look at it. Always be sniping at profits. I'd rather lock in profits going forward than wishing for moon.

Grumpypants · 19-11-2020 1:30pm

I've 1/3 in for a year, 1/3 for a month and 1/3 ready to sell. If it does go up I might try recoup the initial investment then hold the rest.

Whelo79 · 19-11-2020 2:02pm

Grumpypants wrote: »

I've 1/3 in for a year, 1/3 for a month and 1/3 ready to sell. If it does go up I might try recoup the initial investment then hold the rest.

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

Dohnjoe · 19-11-2020 2:21pm

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

KilOit · 19-11-2020 2:26pm

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

Whelo79 · 19-11-2020 2:30pm

Dohnjoe wrote: »

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

So do I

Tango One · 19-11-2020 3:36pm

When is the second auction?

Whelo79 · 19-11-2020 3:49pm

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 · 19-11-2020 4:20pm

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

Whelo79 · 19-11-2020 4:55pm

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 · 19-11-2020 5:04pm

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?

Whelo79 · 19-11-2020 6:38pm

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 · 19-11-2020 6:47pm

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

Axion

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