Axion Network is a worldwide monetary system that increases its users’ purchasing power by generating a stream of financial returns. It uses a certificate of deposit mechanism through which participants’ funds continually grows.
The fact is that every user locks his/her funds and receives a daily interest. Thus, Axion community members can earn a living through accumulated interest. Essentially, the amount of interest each participant earns depends on the amount of funds he/she injects into the platform through staking.
The Axion token is a global currency, with an estimated inflation rate of 8%. Strategically, AXION’s adoption centers on HEX holders, who can claim the token every day at a ratio of 1:1 (HEX: Axion).
Staking is central to the sustenance of the Axion Network. It is important to note that users stake both ETH and the Axion tokens. For example, users stake ETH daily to make Axion available in the auction.
By design, the individual should stake the tokens for a fixed period, measured in days. The shortest staking period is one day, whereas the longest is 5 555 days. When the staking period expires, the stakers receive their interest. Five factors determine the staking reward:
- The total amount of Axion tokens that one has staked
- The total amount of tokens staked on the platform by everyone
- The time that a person stakes the token
- The Axion inflation rate compounded daily
- The amount of ETH injected into the auction on a particular day.
Interestingly, there are penalties for participants who break the staking rules. For instance, if someone unstakes the tokens before the period expires, he/she pays the penalty for that. The platform injects the aggregate penalty fee in the next auction.
Likewise, stakers who cannot withdraw their funds and the accompanying interest on time also pay the penalty. Similarly, the platform deposits the accumulated late unstaking penalty fee is in the next day’s auction. The staking reward is high because the platform uses 80% of the daily staked ETH to buy Axion tokens for the payout pool. Above this, stakers share 100% of the inflation tokens in a pro-rata manner.
When the users stake their tokens, they get shares, which depends on the price of shares and the bonus multiplier. The number of shares an individual owns determines the proportion of the pool reward he/she gets.
The reward system
There are different pools of staking rewards.
Payout pool: The interest derived from the total coin supply for a day forms part of payout pool. As you remember, the interest rate comes from the 8% interest, compounded daily for 365 days. Part of the pool funds comes from the Axion bought using 80% of the ETH deposited via the auction. The stakers share this payout pool amount to the shares they individually own.
BigDayPay: All the unclaimed Axion tokens form the BigDayPay pool. 0.2857% of the daily unclaimed tokens go into this pool. Therefore, it gets bigger and bigger every day. However, only users who stake their tokens for 350 days or more share these funds within a year.
Referral Program: The Axion Network platform allows its users to participate in its referral system, where the referrer receives a commission of 20% of the amount staked in the auction.
Axion tokens holders decide the changes and improvements that should take place to the contract. Therefore, the community participates in the development plan of the Axion Network.
Members of the Axion Network community interact with one another through the following social forums.