AXIA, the organisation building a digital ecosystem around the world’s first hyper-deflationary digital currency, the AXIA Coin (AXC), recently revealed it was launching the new staking program.
Coin Rivet spoke with AXIA’s founder – Nick Agar – who said the staking program was highly unique within the crypto space because it offers some of the best rates of rewards in the industry at 192% APY, but also, all rewards are compounded daily.
“The program compensates for both upward and downward movement – when the price of AXC goes down, participants receive more rewards, while when the coin price goes up, all the rewards they’ve previously amassed are that much more valuable,” Agar explained.
He commented on the recent inflation rises in the US and around the world, stressing “AXIA Coin can provide a hedge from inflation because it is hyper-deflationary”.
“It has a total supply that only goes down through a process called coin burning, which is triggered from purchasing, staking and any activity or transaction within its ecosystem,” he said.
“Meanwhile, these same activities can also result in an increase in the asset-supporting structure in the AXIA Treasury.
“So, on the one hand, you have a constantly increasing scarcity of AXIA Coin, while on the other hand the underlying asset support is being strengthened.”
He also urged individuals looking for more rewarding alternatives than the traditional system offers to do their own research and see what programs like AXIA staking can offer them in terms of long-term value.
“I would suggest doing research to uncover projects that offer real, sustainable long term and growing value rather than hoping for the best with speculative instruments,” he said.
Cryptos with fundamental value will stand the test of time
Talking about non-fungible tokens (NFTs), Agar said their value and utility were only just being uncovered.
“While the initial phase of the industry has been primarily focused on art, music, etc, I think that the potential for NFTs to tokenise real-world assets is where the industry will really begin to have a dramatic impact on our everyday lives,” he said.
“I think that as we move into the future, cryptocurrencies that offer their participants and communities real-world utility, and have true fundamental value, are going to be the ones that stand the test of time.
“When you look at AXIA, you have so much more than just a hyper-deflationary cryptocurrency – you have a digital bank where you can stake and/or utilise debit cards, you have a suite of apps that let you enjoy enhanced security and privacy, while also providing you with the opportunity to earn AXIA Coin rewards daily.”
Agar added the project also had a fully encrypted smartphone and a next-generation network coming out in early 2022.
“The sky’s the limit, but I think that the added value and utility offered by everything in the AXIA Ecosystem is essential and will help AXIA continue to stand out over time,” he added.
Agar also revealed the AXIA Network was launching shortly, and the entire project team had been working hard to bring it to the world.
“The AXIA Network will also be the first-ever hyper-deflationary network to come to the market,” he concluded.
“So beyond bringing a new standard for blockchain technology to the mainstream, each participant will benefit from superior economics as compared to what exists in the marketplace today.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.