First off, let me introduce myself: I’m Nick Agar, the founder of the AXIA Project. While some of you may know me either personally or just anecdotally through media interviews, etc., one of my goals this year is to connect more directly with the amazing AXIA Community on a regular basis. With that in mind, I will be releasing a series of Medium posts to share news, announcements and my ongoing thoughts on the state of the project and the industry as a whole throughout the year.
What will be provided in this update is a manner of level setting as we prepare for the most exciting chapter of the AXIA Project heading into 2022.
To start, I wanted to share some background on AXIA that will help to contextualize how far the project has come since its inception over 4 years ago. Following which, I will outline some of the exciting developments in store for this coming year and beyond.
Linkcoin
Before AXIA, there was Linkcoin. It was an early-stage attempt to create a digital token structure that differentiated itself from other blockchain projects by offering a specified model that produced fundamental underlying value for a currency in a way that no project possessed as part of their vision or token economics. Soon after the creation of Linkcoin, a partnership that seemed promising was formed with what was then thought to be an up and coming network in the space. They had built an Ethereum-based Proof-of-Work consensus network that was smart contract enabled. The network needed an anchor project to assist with building out their network and Linkcoin was selected to fit that bill.
Though there was some conceptual promise to the idea, all the necessary requirements were unable to be fulfilled that were needed to support the Linkcoin token on that network. Needless to say, the project did not survive and the token contemplated never materialized, but in the background a new path forward began to emerge — AXIA.
New Economic Design and Continued Relationship with Network Partner
From the origins of Linkcoin, AXIA emerged as an entirely new project and concept. As there was and remains significant volatility in the cryptocurrency market, as well as a general murkiness around the fundamental value of some of these instruments, the earliest iteration of AXIA Coin was an attempt to provide an alternative digital currency that was designed to protect against volatility and loss of value.
Now, working with a broader team of blockchain architects and senior developers, AXIA transitioned to develop an “asset-supported” cryptocurrency that had a finite supply. Part of the design was to try and tokenize hard assets via the “AXIA Reserve.” This was, on the surface, an innovative way to better sustain the value of a digital currency. This assessment ultimately proved to be false. It quickly became clear that just having what appeared at the time as some form of asset support for a digital currency was nowhere near enough for meaningful market adoption. There had to be utility beyond just an alternative medium of exchange.
Most cryptocurrency projects have one singular utility or focus. To architect something that really stood out, the team decided to pursue a full ecosystem of applications, platforms and businesses that could offer what we hoped would be something of real value.
Meanwhile, as AXIA expanded its development team and project plans, the Network that AXIA had partnered with continued to have issues. After a steady stream of disappointments, a decision was made to cease the use of that network, and migrate the AXIA token to the Ethereum network.
The AXIA ERC-20 Token and Launch of Ecosystem Apps
The process of leaving that network required significant reorientation of our development team and the complete re-engineering of the token to fulfill the requirements of the Ethereum network, including assuming the cost of gas fees on behalf of AXIA Ecosystem participants that were over 10x higher than they had been on the previous network.
From the development of the beta version of AXchat with its embedded core wallet to the launch of AXplorer, which rewards users for surfing the web, the launch of various use-cases for the AXIA digital currency in the form of applications served to show the potential of creating an interconnected digital ecosystem. Nonetheless, the majority of apps remain in beta and continue to be an important part of the project’s longer-term roadmap.
AXIA Capital Bank
One of the primary use cases for AXIA was to have an alternative banking structure in place so people could use the currency for certain financial services without needing to interact with traditional financial institutions. This is why, in addition to building an ecosystem of apps, the AXIA team custom developed a new type of regulated bank where the focus is on digital currency and providing rewards to all members by harnessing the power of blockchain technology. It is also a gateway for new users to access a Web 2.0 application and be launched into the “Web 3” world of distributed blockchain and digital currency utilization.
There is a lot of complexity in not just putting together the architecture for this type of platform, but the actual development of custody systems and meeting the rigorous standards needed to integrate digital currency into more regulated systems. This has been an arduous task, but AXIA Capital Bank now boasts a significant number of bank members, while providing the means for members to gain the benefit of proprietary rewards that are unparalleled in the market. Furthermore, there is also the ability for members to use their AXIA Coin around the world through different spending mechanisms.
The launch of AXIA Capital Bank has validated the team’s thesis that there is an increasing need for a digital banking solution that helps merge the worlds of crypto with traditional services. Nonetheless, the team is just getting started and couldn’t be more excited about the future of this aspect of the AXIA project. There will be new products and services emerging from this platform that will significantly improve the user and platform experience.
Listing Of AXIA ERC-20 Token On Public Exchanges KuCoin and BitMart
An important step in the evolution of AXIA Coin was to develop partnerships with exchanges around the globe. To this end, AXIA Coin was made available at an early stage on both KuCoin and BitMart during the second half of 2021. Through partnerships with both of these exchanges, the AXIA Project team has gained invaluable insight and learned many lessons regarding the process of working with these types of platforms, which will be applied to strategies around additional listings in 2022.
The Evolution of the AXIA Reserve
As noted already, it was originally assumed that having some kind of asset support system for a digital currency would provide a good counter to other alternatives that have no support whatsoever. The theory is sound, but the structure of the reserve and how the assets could offer value to network participants “at some point in time” was simply not effective enough and not adaptable enough to continue with.
The market did not assess the Reserve concept favourably. Not only were the assets never reflected in the market cap once the token was properly made available on public exchanges, but the Reserve concept actually turned out to be a detriment to the project overall. Overall, in the team’s view, the AXIA Reserve damaged the credibility of the project and provided no positive benefit.
Hence, the project is phasing out the AXIA Reserve and will be replacing it with the AXIA Treasury, effective as of this month. To learn more about this important but vitally necessary change to the project, we will be releasing another Medium article ahead of the launch of the Real-Time Reporting Platform/AXIA Treasury this month. Please stay tuned for this to learn more about this transition.
Revised Tokenomics For A Better Future
The market had spoken and further change was required in order for the project to adapt and fulfill its stated vision. Hence, the team worked tirelessly to restructure the project in real-time including making material changes to the tokenomics that I personally architected. This was done knowing that the level of acceptance and adoption required to achieve the project’s vision had not been met with the previous design.
A superior economic design has been implemented to make the AXIA Coin hyper-deflationary.
Instead of just having a finite supply to offset loss of value in fiat currency, AXIA adopted a revolutionary concept around hyper-deflationary economics to ensure a constant reduction of what is already a limited supply that will decrease from any kind of participation, staking or activity through a mechanism known as “coin burning.” In addition, a staking program has been offered and the new AXIA Treasury was designed around real-time transparency.
Only after this major transformation took place which included the innovative hyper-deflationary economics, coin burning and staking concepts did the positive momentum we are now seeing begin building for the project.
Based on this evolution the tokenomics have been restructured going forward and will be outlined as follows:
Circulating Supply
Total Coin Supply
Staked Coins
Burned Coins
Total Initial Coin Supply
AXIA Treasury (verified by the AXIA Real-Time Reporting Platform)
There has been steady growth in participation and continued interest since the beginning of this transformation. But, much more work is required to not only continue the positive momentum for the project, but increase it.
The AXIA Network, The AXIA Treasury and Real-Time Reporting Platform: A Project Built On Hyper-Deflationary Tokenomics
When staking was introduced it was a sign that hinted at bigger things to come. Staking allows individuals to gain more direct involvement in a network. So beyond just getting extremely favorable rewards, each person who has already staked their AXIA Coin (soon to be an AXIA Network Coin) is actually assisting with the overall fundamentals of the project.
The AXIA Staking Program has been very popular thus far despite a mostly grassroots outreach campaign with the vast majority of participants opting for the maximum allowable 2 year pool with 192% rewards APY. This appears due to the obvious mathematical advantages.
The staking program has served as a catalyst for the momentum of the project to begin to accelerate; circulating coin supply has gone down by nearly 99% as nearly all current staking participants have taken advantage of the 2 year staking period. As more coins get staked, more coins get burned (3:1 in fact for any coins that were purchased and staked), and the more scarce AXIA Coin become as the total supply reduces.
More information regarding the innovative one-of-a-kind tokenomics is available in the AXIA White Paper v2.0. This will give clear insight on the hyper-deflationary design and how constant value can be distributed to participants on an ongoing basis.
AXIA Real-Time Reporting Platform
As mentioned above, the AXIA Reserve will be replaced with the AXIA Treasury to the significant benefit of all AXIA participants. The project will be shifting towards the most transparent reporting structure in the entire financial industry that will report on financial holdings in real time with the launch of the new AXIA Treasury utilizing the AXIA Real-Time Reporting Platform.
Quite simply, the market demands transparency. So rather than simply updating our reporting using traditional standards, AXIA can set a new standard with regards to how the entire financial industry can report on both current financial standing and performance. Rather than reporting from a historical standpoint, as is the case with almost all legacy businesses, with blockchain and other advancements in technology so much can now be done in real time.
The AXIA Real-Time Reporting Platform displaying the holdings in the new AXIA Treasury will be visible to the world. The AXIA Real-Time Reporting Platform is already built, tested and will be launched to the public imminently. AXIA will also be inviting any accredited third party to provide their own analysis of the AXIA Treasury. This is a first for the entire financial industry and provides immediate credibility to our desire to build a project that all individuals can rely on and trust for the long term.
AXIA Network Testnet Launch — Q1 2022
In the beginning the different iterations and incarnations of this project were built on other networks. However, this has always been considered a temporary solution as there are in my view some clear deficiencies with what is currently available in the market. So myself and the AXIA team could not be more excited to finally be able to share that AXIA will be introducing its own next generation blockchain network very soon. It has been in development for years. This will be the first ever hyper-deflationary network to come to market. It is the world’s first network built on superior tokenomics principles from the start.
Almost all networks other than Bitcoin are considered inflationary. There is the ability to constantly mint more coins based on specified parameters and/or perceived need. This means that there is an infinite supply.
Ethereum, currently the most utilized network, is slow, congested, expensive to transact on, and bad for the environment. Individuals complain about it all the time, but people (those who can afford it) use Ethereum significantly more than other competing networks because of the level of adoption it has achieved and the many projects built on top of its core network.
Interoperability is a big buzz word in blockchain that is often utilized in discussion but not truly fulfilled. So people stay on Ethereum or at best some fork of Ethereum that has its own weaknesses.
Bitcoin is at best considered deflationary and you can read some of my thoughts on just some of the deficiencies with both the network and coin if interested here.
By being hyper-deflationary, AXIA Coin immediately stands out. The far superior economic design gives it an immediate strategic advantage. Scarcity drives value and by having so much more occurring (i.e. every single block created) to burn more coins, velocity will grow in terms of the reduction in supply.
AXIA is not only setting up the AXIA Network to have the best economic model, but also to be the most inclusive blockchain network in the world. All one will need is a mobile phone or other electronic devices to be able to stake AXIA Coin. This will break down the barriers to entry faced by new users who may be interested in staking or simply entering the blockchain/crypto market but simply cannot afford the start-up costs involved or because of other barriers to entry.
AXIA will stand in contrast by also offering a more energy-efficient model accessible to anyone with a mobile phone or another electronic device. There will no longer be the need to have energy drained on an exponential scale as is seen with legacy Proof-of-Work and other damaging models.
The AXIA Network will connect independently running blockchains to the network through bridges providing true interoperability. This reduces concerns over congestion. Each token will exist on its own individual blockchain and can interact across the bridges that connect them. And each token will have its own token standard unlike other networks that locks everyone into a specific type. There will also be a bridge to port the smart contracts of Ethereum based projects to finally provide all projects a true alternative that offers so many benefits.
The AXIA Network has the potential to bring the value of blockchain technology and a currency with real fundamental growing value immediately to a large worldwide audience.
AXIA will also be the only network that has a treasury that is not based primarily on the value of its own coin. It will not only be reporting the value of its asset base in real time, but have it in place as a support system for the coin as well.
So, the model is truly one-of-a-kind. Through activity, participation and staking, coins will be burned constantly reducing total supply.
I believe that the AXIA Network can not only take the industry to the next level and bring the value of blockchain technology to the masses, but do so in a way that will open the door for new opportunities to present themselves and the means to improve one’s life in ways that have never existed before.
Future Exchange Listings
The team has been coordinating with a number of different third-party exchanges and many more from around the globe are coming directly to us now to collaborate as well as develop different partnerships. This work is ongoing and there should be more to announce on this soon.
The overarching market system that AXIA Coin will rely on to drive broad-based adoption will be a combination of additional third-party centralized exchanges, along with the AXswap decentralized exchange; the latter structure will provide the most immediate and long-term benefit to AXIA and its participants. This will be a major focus for 2022.
The Beginning of the new AXIA Network Coin
In order to successfully deliver upon the potential of the next phase of the project, new companies, new platforms, new partners and lots of new people will need to be involved.
The AXIA Network means holders of its currency will have something better — a true digital coin. The nomenclature for blockchain is to refer to that which a network produces/mints as a “coin” and the digital assets/currencies that exist on a network as a “token.”
Bitcoin and Ethereum are coins whereas Tether and Shiba are tokens. The AXIA ERC-20 Token will be no more once the network coin is launched.
It should also be noted that the most of the most valuable projects in the blockchain industry are coins not tokens.
AXIA is ready for lift off.
The project has a chance to completely transform the entire industry and move into the next phase where blockchain and cryptocurrency become truly mainstream. The network is currently running in testnest, with the date for mainnet to be announced shortly; the team has never been more excited.
Personal Thoughts and Next Steps
As is often the case with new and emerging technology, AXIA has experienced a great deal of evolutions leading up to today. Positively, everything that has led up to this point has resulted in a project in its current form that the team firmly believes can take its rightful place as one of the leading blockchain projects in the entire world.
The fundamental truth as I see it is that AXIA in its previous iterations and design was simply not good enough. We are capable of so much more.
As the leader of this project, it is my responsibility to learn from the past and work diligently to ensure the success of the future.
The lessons from the past are a time to access, learn, grow and evolve. AXIA in its previous formations had nowhere close to the potential that it has today. The network alone in my estimation brings multiple times more value to participants and the global market than anything that has or was available in the past. This knowing there is still so much more there beyond that.
As the leader of this project, I have never been more confident in the path forward for AXIA. And, I pledge to continue to relentlessly pursue that which will help everyone involved with the project — from the team to the participants — achieve a better, more rewarding future for themselves and their loved ones.
Those that know me know I say that you are either at the forefront of change or you are adapting to it. If you are at the forefront, you can benefit immeasurably. If you are adapting to it, it can cost you dearly.
I work too hard, sleep too little and care too much. I have sacrificed beyond what most could understand with the never abating desire and dedication to bring something of real sustainable value to all involved now and the many others who may participate in the future. This is what drives me everyday.
I am blessed. I am blessed to live my life in the service of others. And please have no doubt I am doing everything in my power to serve people well.
I don’t care about money. I never have and never will (this may seem ironic from a person who created a new form of money). I have no material wants.
I believe the measure of any person is the impact they have on others. At the end of it all, it is all we leave behind. It is ultimately the only thing that matters. So, I want my impact to be as positive and wide ranging as possible.
This whole journey started with the goal of trying to create something that has a positive impact on the lives of others, regardless of who they are or where they live in the world. Something that could be a real difference maker and change things for the better.
Who knew you could generate meaningful rewards that can provide direct benefit for oneself while also providing benefit to others at the same time? The convergence of blockchain technology, web 3 principles and new economic paradigms is happening in real time and presenting untold opportunities for the world. We are so fortunate to be at the forefront of this journey and have every intention of fulfilling the potential and vision for this project.
I feel we are now in a position to begin to fulfill that vision.
Good things take time and the best things are worth the wait.
The time is now.
Welcome to AXIA!
New Updates and Public Announcements Coming Soon
There will be a brand new website that will be released shortly that will include the Real-Time Reporting Platform, content updates, and more. AXIA also has a much stronger public relations and communications plan that will be on full display for everyone to witness early in 2022 and throughout the year.
AXIA will only continue to grow, expand and evolve over time.
Please stay tuned as we have lots to look forward to and lots of good times ahead. I could not be happier to have your involvement in this project.
The future of AXIA is brighter than ever before.
Please stay tuned to the blog and watch out for future updates to hear more about all of the ongoing AXIA developments.
Sincerely,
Nick Agar
