Intro
April 28, 2022 will go down as one of the most important days in the history of the AXIA Project. In fact, someday people may look back on this date as a truly revolutionary day in the blockchain space and beyond. That is ultimately the goal as AXIA now embarks on the next chapter in its evolution as a project running and overseeing its own proprietary blockchain that can truly break down barriers and make the space more inclusive through its innovative Proof-of-Participation protocol.
It is a time for both celebration and preparation. The AXIA team and community took to social media yesterday evening to celebrate the launch of the Network, thank one another for their dedication and hard work, and take a few brief moments to truly reflect on how far the project has come since its humble beginnings years ago.
Now, we look to the future.
The blockchain space moves too rapidly to rest on your laurels or take too long to stop and smell the (digital) roses. With the launch now officially in the rearview, it’s time to focus on what the genesis block represents for AXIA and begin to move into the project’s next phase: roadmap execution and the delivery of all of the exciting products and platforms that are on the way. And, as we know, there’s no shortage of big things on the way!
As upcoming product and platform deliveries and their general timelines have been covered extensively in recent blogs and newsletters, today’s AXIA 101 will be condensed and straightforward. It will primarily focus on the immediate next steps for the AXIA community, including information on the AXIA Coin split, AXIA Coin migration and some teasers on what to expect over the coming 1–2 weeks. Without further ado, let’s get to it!
AXIA Coin split and migration explained
If you subscribe to the AXIA newsletters, much of this information will not be new to you, but it’s important to the team that it is shared in a public forum that can be easily read and digested by anyone.
Yesterday there was a 13.43:1 AXIA Coin split. This means existing holders of legacy tokens received a multiple of 13.43 with their new AXIA Network Coins, with the value of each coin ultimately being $1 USD post-network launch. The overall value of each individual’s holdings was unchanged as a result of this split. There were several strategic reasons for this split, but it should first be noted that this decision was undertaken with the long-term benefit of the community in mind, as all key decisions at AXIA are.
As explained in yesterday’s newsletters, the reason for the coin split was to ensure that the AXIA Network will immediately be able to enhance the proprietary hyper-deflationary economics of AXIA Coin following the mainnet launch. As a result, more ongoing utility will be made accessible to participants involved in the project going forward.
The AXIA Network was also built to be the most inclusive blockchain network in the industry and push it into the mainstream. With the enhancements that the AXIA Network will bring to the hyper-deflationary economics as well as the technological advancements it can provide, AXIA Coin can also be more widely accessible to people around the world to provide more and more positive impact in the future.
For anybody holding legacy tokens at AXIA Capital Bank, the migration and split process was extremely straightforward and has already been applied to the majority of accounts. AXIA continues to prioritize ensuring that bank members always have a seamless experience.
For anybody holding AXIA Coins outside of the AXIA Ecosystem, the AXIA Coin Migration Portal will come online on April 30, 2022. This portal will be an easy way for AXIA Coin holders to migrate their legacy tokens into new AXIA Network Coins in a matter of minutes.
Furthermore, the new AXIA Network Coin will be listed on global exchanges shortly. Official news on these partnerships is being released imminently.
Yesterday’s newsletter also included some key Frequently Asked Questions (FAQ) about the coin split. They are being relayed again here for clarity:
Coin Split FAQ
Q: How does the coin split affect me?
A: The coin split only impacts you with the respect to the fact that you will hold more AXC. However, the total value of those coins at the time of the split is exactly the same as it was prior.
Q: Will the coin split result in the dilution of my AXC holdings or the total supply?
A: No, the AXIA Network is anti-dilutive. The split does not affect the value of your balance in the same way that the value of the total supply will also be the same.
Q: What does this mean for coin burning going forward?
A: The AXIA Network is hyper-deflationary. The total supply will only decrease, never increase. The network will also allow for more mechanisms for coin burning for the benefit of all AXIA community members.
New exchange listings
The team will be announcing some of the new partnerships it has been developing behind the scenes related to upcoming exchange listings. While an exact date for the first listing will not be shared in this blog, it will be revealed in the very near future.
It is important to note that these types of agreements and partnerships take a significant amount of legal review, coordination between teams in different corners of the world, as well as technical and educational integrations across organizations. Now that the AXIA Network has launched, the primary goal with these types of partnerships is to put all current and future participants of the project in the most favorable environment possible.
Upcoming AXIA AMA
The rollout of a new network is a thrilling albeit complex and layered process. The AXIA team has thoroughly enjoyed engaging with AXIANS in the official AXIA Discord, Telegram and Twitter communities, as well as on other platforms across social media leading up to and following the launch. However, the team recognizes that there is a large appetite for a more formal and direct forum to field questions related to the network launch, coin split, coin migration, upcoming application and platform launches, exchange listings and more.
In the spirit of engaging with our amazing community, an AMA has been scheduled to share some exciting news and information, and to field questions from anyone who has them.
Here are the details:
Date and Time: Friday, May 6 at 11:30 a.m. EDT
Format: Voice AMA in the official AXIA Discord, rolling questions in #AMA channel
Participants: Nick Agar (founder), Dan LeBaron (community)
Looking to the future
Today’s blog was not meant to be an exhaustive review of everything coming up for the AXIA Project but rather to provide some high level updates about some of the key questions that have come into the community since the network launch yesterday!
As was shared in the intro, the team has been regularly communicating news and information about upcoming products and platforms that will follow yesterday’s launch. Here are some recent blogs that are publicly available if you’d like to dive into some of these items more thoroughly:
AXIA 101: April Founder’s Update
It is also highly recommended that you subscribe to the AXIA and AXIA Capital Bank newsletters as well for more up-to-the-minute news and updates related to the AXIA Project. Particularly during the extremely busy period coming up, these will be key information drivers for the community. Simply visit the AXIA and AXIA Capital Bank websites, scroll to the bottom right and fill out the newsletter subscription form to begin receiving them.
With the network now live, the team’s focus shifts to the smooth and consistent delivery of upcoming products and platforms, as well as the continued education and communication of AXIA and what it can offer to international crypto and traditional finance communities.
So, don’t go anywhere! There will be a constant stream of news, updates and communications being shared in the AXIA community in the coming days, weeks and months. The unwavering support of the community continues to be a huge difference maker for AXIA and the team looks forward to continuing to engage and grow it during this upcoming exciting and productive period for the project.
