Axion Completes Its Migration to Polygon, Prepares to Bring a New Set of Services
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists. It ‘s been about a class since the staking ecosystem Axion launched on its direction to becoming the crypto world ‘s go-to DeFi project for long-run venture. To do it, they had to weather a launch day hack that about scuttled the plan, only to see their community members rush to save the project and power a relaunch. The leave was the birth of a singular time-locked investment vehicle that features high rewards and casual liquid Bitcoin payouts. But the launch-day hack was n’t the death hurdle Axion faced. As 2021 began, congestion on the Ethereum blockchain sent accelerator fees spiking to fresh record highs. That posed an experiential menace to Axion and its income investing model. So Axion ‘s developers went on the unsavory. They began to develop a serial of changes to the platform ‘s bright contract to optimize it, culminating in the rollout of Axion V3 – driving down costs for all users. And then, early this October, the Axion community made a momentous decision. In a community vote, an overwhelm majority of AXN holders authorized the platform ‘s motivate onto the Polygon Blockchain. The resettlement would be a permanent solution to the gas tip problem and open up a worldly concern of newly opportunities for future development.
A Successful Migration
On October 19th, the Axion development team began the influence of migrating the platform to the Polygon blockchain. In the process, they transferred over USD 1.5 million in Bitcoin, USD 1.2 million in Ethereum, and all of the data that makes the Axion venture system function. Six hours belated, when they reactivated the contract, everything worked precisely as expected. And that ‘s no minor thing. At the clock of the migration, Axion ‘s platform included 20,000 person wallets and had over 73 % of the entire provide of the chopine ‘s native AXN token staked within it and an astounding 45 % of the total issue is locked into the system for the chopine maximal of 15 years – which is a first for any crypto staking platform. right now, Axion is using its successful migration to the Polygon blockchain as a springboard for more invention. Using the modern functionality available to them, they ‘ve already added a few noteworthy features to their stake system. The first is the ability for users to split their stakes to exercise greater control over their investments. On top of that, users can immediately name each stake and have that information recorded on the blockchain. But it ‘s another major approaching feature that Axion expects to have the greatest affect .
A New NFT Ecosystem
Amid the migration, Axion besides announced plans for a new NFT ecosystem, which should launch in the come days. The NFT system will be unique, in that it will allow users to convert their stakes into one-of-a-kind generative art. The system will use a procedural galaxy generator to turn each bet on ‘s statistics – like amount, length of stake, stake character, and global plowshare rate – into an inspire NFT. This will make it potential to commoditize Axion stakes, which will office another approaching feature – the Axion Stake NFT marketplace. Within it, stakeholders will be able to buy and sell their positions in the form of NFTs. And when they do, the underlying rights and future bitcoin distributions associated with each stake will pass to new owners. It ‘ll be so far another way that Axion ‘s users can earn passive voice income from their stakes, transferring possession in exchange for an immediate payout.
The Axion NFT Marketplace wo n’t be just for stake-generated NFTs. It will besides be a place where users can buy a variety of other types of NFTs, the first three of which have already been minted on the Polygon blockchain. The newfangled NFTs will fall into three categories, which are Utility, Visual, and Community. And each type will come with its own alone value proposition. The Utility NFTs grant their owners specific benefits, like access to individual discord channels or extra rights for Launchpad events. The first base two of those, called the OG-POLYGON and Diamond Stake NFTs, are already available from Axion. The ocular NFTs will allow their owners to customize the look and find of their Axion dashboard, making Axion one of the first crypto platforms to use NFTs in this manner. The foremost of those, like the Axion Supernova, is besides already available. Community NFTs, which are still in development, will offer mementos of community events on the Axion platform .
Myriad Opportunities to Earn
It ‘s been a busy few months for Axion ‘s developers, but their intemperate work has been paying off. With the affect to the Polygon blockchain, Axion transactions now cost pennies or less and for users of the platform ‘s novel token accelerator avail, the savings are multiplied even further. There, investors can buy AXN and post it in a single transaction, cutting the already-minuscule gasoline fees in half. That extra efficiency will besides make it even cheaper for the Axion community to participate in the platform ‘s curated cross-chain keepsake Launchpad. It has already completed four successful launches in the by year, bringing exclusive earning opportunities to stakers. And it merely completed a successful USD 100,000 single raise with Luxy.io, a next-gen NFT marketplace. With that track record, there ‘s small doubt that there will be more launches to come.
All in all, it ‘s been a successful year for Axion. After starting out facing a nightmare scenario that could have meant the end of the undertaking, Axion and its community have bounced back and then some. And with the move to the Polygon blockchain in the rear-view mirror, there ‘s every reason to believe that there are even more positive developments to come. That ‘s well news for Axion ‘s stakers – and even more of a reason that the rest of the crypto world should be sitting up and taking detect .