AXEDAO - The New Promising OHM's fork
Singapore, Singapore--(Newsfile Corp. - November 22, 2021) - The decentralized reserve currency, AxeDAO, is building a community-owned decentralized financial system to bring more stability and transparency for the world, and help everyone get an opportunity to be financially free.
How to buy AxeDao
There will be 2 ways to buy $AXE, staking and bonding. Anyone can stake their Axe token for more $AXE by using USDC, or buying bonds for the same $AXE quantity with the discounted price and will be available after a fixed vesting period.
- Staking: Cryptocurrency staking means "locking up" a digital asset or being a validator in a decentralized crypto network.
Steps for staking for sAXE:
- Lock in AXE and receive an equal amount of sAXE.
- The sAXE balance then rebases up at the end of every period automatically.
- sAXE can be eligible to be transferred so it is composable with other DeFi protocols.
Here is where and how to stake AxeDao.
- Go to the AxeDao website and select "stake."
- Send the AXE to the staking contract and receive sAXE at a 1:1 basis.
- The current APY% is 1,195,383.90%
- Unstaking: Is the process of converting sAXE back to AXE, here is how:
- Go to our website and select "unstake." Send sAXE back to the staking contract to receive AXE at 1:1.
- Burn sAXE and receive an equal amount of AXE.
Unstaking also requires the user to forfeit the most recent rebase as an exit fee.
- Bonding: Bonds refer to the process of trading Liquidity Provider (LP) tokens for AXE tokens at a discount (below market price). Bonding is the secondary value accrual strategy of AxeDao; Bonding is an active, short-term strategy and bonding allows AxeDao to accumulate its own liquidity.
- Some key points on Bonding:
Bonds give the opportunity to buy AXE from the protocol at a discount. Here are just a few differences to keep in mind:
- Pay for AXE with liquidity. This aspect helps the protocol accumulate liquidity shares.
- NO AXE up front. Instead, the AXE is vested over the course of five days. This smooths out market impacts from the new supply of AXE.
- The demand for bonds will determine the discount. The bond discounts increase when there are more bonds, and decreases when there are less.
- Once bond, the LP commitment is locked. When a user has executed a trade, the user has made the trade. Think of it as buying AXE and committing to stake for 5 days with a set reward rate.
- There are 4 pool bonds of AXE: The main one is: AXE-DAI, then AXE-USDC, AXE-USDT, AXE-ETH. One example when a user buys AXE bonds: A User can buy 10 AXE on Uniswap at $1000 each, and a user can buy 13 AXE bonds for $1000 total and receive the same amount after 5 days.
Here is how to buy AxeDao bonds.
Join the AXEDAO community
Here are the communities of AxeDao, joining all would help anyone to stay updated all the time on this hidden gem.
For more questions and inquiries please visit our FAQ section or email us at firstname.lastname@example.org or email@example.com
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