AXO creation & Vault updates

13-01-2023

AXO

AXO creation, updated Axo Vault & tokenomics

Axo has good news! The launch date is getting closer, and Axo has taken the first steps to unveil the protocol on the Cardano mainnet.All 42,000,000 AXO tokens have now been minted and are ready to be used — the tokens are divisible up to 9 decimal places, so the protocol can adapt as the project expands and incorporates the liquidity and volume of traditional finance players.Soon, users will be able to claim their airdrop from the new and improved Axo Vault. This app allows users to track, claim and withdraw AXO tokens, as well as current and future NFTs.Much is planned for this Vault, but besides the features alluded to, users might have the opportunity to acquire AXO tokens outside of the airdrop.If you’re curious to see what the future of finance will be like, check out the Vault!It's worth noting that no tokens will be available for trade before launch, and any claims to the contrary are fraudulent. Do not purchase tokens externally.The official AXO policy ID is:420000029ad9527271b1b1e3c27ee065c18df70a4a4cfc3093a41a44

Regarding the AXO token claim

Prior to launch, the only place where AXO tokens are available is the Axo Vault.Once eligible users claim their allocation via identity-verified wallets, the tokens will be placed into a vesting script. Airdrop holders and private investors will then have 20% of allocated tokens available when the platform is live, and the remainder of their holdings will vest linearly over a year.To better align developers’ incentives with the long-term well-being of the project, only 5% of the team’s allocation will be available at launch. The remainder will vest linearly over four years.Besides the token allocations for individual parties, the tokenomics of AXO also have the treasury and rewards earmarked. Unlike many projects out there, Axo’s tokenomics will be managed on a trustless basis. An unalterable vesting schedule will lock the tokens, and they will be disbursed accordingly.Axo will initially use the treasury allocation to enable market-making and liquidity-bonding strategies to attract transaction volume to the platform. Similarly, Axo will use the rewards allocation to incentivize platform use by providing bonuses for certain actions.Both the early-stage treasury and rewards incentive schemes are designed to breathe life into this new financial ecosystem. But these token allocations are carefully balanced.At launch, only up to 10% of the total AXO tokens can be available and in active circulation. The Axo protocol will lock the remainder under vesting contracts.Further details regarding the tokenomics of AXO can be found here.

Important information regarding the AXO airdrop

When the AXO claim process is live, there will be some minor costs associated with claiming the airdrop. To activate the claim process vesting script, you will need to send 35 ADA to a specified address.Scripts on Cardano require funds to be locked in them to be deployed. 32 ADA generates and activates the script where the user’s AXO tokens are deposited. Once the vesting script finalizes and the tokens are claimed, 32 ADA will be returned to the user. The remaining 3 ADA are used to cover network fees.As the AXO airdrop article mentioned, the Axo treasury will retrieve any tokens not withdrawn six months after the vesting period ends (18 months after the platform launch).

Conclusion

The Axo Vault is the first step towards allowing users to truly control every aspect of their finances and how it affects their lives. Every aspect of Axo is designed to optimize user sovereignty and enable them to exert their financial will.All associations and transactions on Axo are completely voluntary and executed with strict adherence to the execution conditions defined by the involved parties. This will be the standard going forward, where freedom is prioritized in financial ecosystems instead of the arbitrary whims of powerful entities.Axo will bring change and, with it, the seeds for fairer, more transparent, and more efficient trading.You can check out the Vault here.Thank you for your continued support!