After a Year of Industry Firsts, Axion Promises Even More in 2022

Throughout the past two years, the cryptocurrency world has seen an explosion of DeFi projects vying for the hearts, minds, and dollars of investors. But few have accomplished what Axion has. In a little over a year of operation, it has transformed itself from a novel long-term crypto investment vehicle into a full-fledged staking ecosystem. And in the process, it cemented its status as the crypto industry's leader in staking token innovations. 

But its rise wasn't without struggle. Along the way, Axion had to overcome a launch-day attack that could have destroyed a lesser project and a spike in gas fees that brought other staking platforms to their knees. And they responded with a multi-pronged development plan that helped them overcome those challenges and then some. Today, Axion stands as a resilient example of what's possible in DeFi – and they're just getting warmed up. Here's what they've been up to and what's coming next.

A Successful Migration

In response to the congestion and rising gas fees on the Ethereum blockchain, Axion – after a vote by its users – undertook a migration to the Polygon blockchain. The move was a bid to dramatically lower costs for users and ensure a smooth path to future expansion for the platform itself.

The migration took place on October 19th, taking approximately six hours to transfer the platform's staking data, and the $1.5M in Bitcoin and $1.2M in Ethereum that data represented. At the same time, Axion's developers completed upgrading all existing stakes to the newest version of its smart contract called Axion v3, which is the most efficient of its kind in use today.

By all accounts, the migration was an unqualified success. And the move achieved its main objectives, cutting transaction fees for all users to just pennies or less, and paving the way for the future growth of the platform. 

Unprecedented Staking Options

With Axion v3, Axion added some groundbreaking new features to its staking system. The most important of those was giving stakers the ability to split their stakes after locking funds into them. It's a feature that's industry-first, and it gives investors extraordinary control over their capital.

With stake splitting, an investor can divide an existing stake to top it off, mint it as a Galaxy NFT, or liquidate a portion to take profits while not jeopardizing the whole stake due to early unstaking penalties. It guarantees that investors need not fear overcommitting to a position because they can make future adjustments to it on an as-needed basis.

And as a part of the new stake splitting functionality, investors also gained the ability to name their stakes. The new names, which get recorded on the blockchain, enhance investors' ability to manage their holdings. With naming in place, they can split their stakes as many times as they wish without losing track of the resulting fragments.

Enhanced Opportunities to Earn

Axion didn't just give its users finer control over their stakes. They also built an Accelerator that simultaneously halves investment costs while providing bonuses over prevailing market rates. Using the Accelerator, investors can purchase $AXN and stake it in a single transaction. And the system also provides up to a 15% bonus on purchases, which also yield up to 305% more shares when Max Staking than their open-market counterparts.

And the Accelerator also includes functionality to produce additional price appreciation pressure on the platform's $AXN token. Whenever an investor uses the Accelerator, it buys $AXN from the SushiSwap market and burns it, reducing the token's overall supply. That means investors stand to gain significantly on both ends of their Accelerator purchases. 

An All-New NFT Ecosystem

Axion has also launched a full-featured NFT ecosystem on its platform. And the beginnings of that ecosystem are already beginning to appear. Already, they've added a new feature to their Accelerator – aptly called a Collider – that mints an NFT every time someone buys $AXN through it.

Those NFTs are called Particle NFTs, and each contains a multiple of the $AXN purchase it represents. Investors can stake their Particle NFTs for a chance to create a new stake valued at up to ten times their original purchase, capable of earning high APR and bitcoin dividends like a normal stake. And the Particle NFTs are just a preview of what's coming next.

Soon, Axion will launch its NFT marketplace, which will give investors the chance to create what the developers are calling Galaxy Stakes. These unique NFTs will feature programmatically created animated galaxies made from each stake's on-chain data. But they're not just for show. Each Galaxy Stake represents its underlying investment, giving owners the ability to sell their stakes or purchase new stakes from others in the upcoming Galaxy Stake marketplace. It's a first-of-its-kind application of NFTs that puts Axion even further ahead of its peers in terms of innovation.

An Exciting Year Ahead

With so many successes now in the rear-view mirror, Axion is heading into the new year firing on all cylinders. In 2022, Axion plans to further expand its offerings with new partnerships to power its staker-exclusive Launchpad. And it's also readying the launch of an all-new redesigned staking portal built to make all of its unique features easier to access and use. And with a thriving Discord and Telegram community and 24/7 dedicated chat support on their website, there’s help along the way for crypto pros and newcomers alike.

Given how well things have progressed so far, there's every reason to believe that the year to come will be another major success for the platform. And that, of course, means more opportunities to earn for its users. Axion has come a long way in its short life, and it's giving every indication that it's just getting started.

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