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Reallocation of auction funds

27 June 2021

As per the last update from the founder, we now have 15% of the regular auction funds available to do as we choose as a community. This DAO vote is to decide what we do with that ETH. The amount generated, at current price valuations is approximately $60,000.

Over the course of three Town Halls, the community has identified and selected two clear options; Use for team salaries instead of paying in AXN, or use to boost Marketing over the next three months.

These options will be implemented for the entirety of Q3, after which another vote will be held to determine what the allocations should be for Q4.

Option 1 - Use the Auction funds to pay Axion Team Member Salaries

With this option, Axion team members would be given part of their pay in ETH and the rest would be paid in AXN. When AXN price appreciates and the entirety of operating expenses would be covered by the auction system, any additional ETH would be held in trust for the community for another vote.

This option is estimated to have nominal impact on upward price movement, as Axion salaries do not represent a significant portion of Axion buy/sell pressure sold on the open market.

Option 2 - Use the Auction funds to increase Axion Marketing Budget

The current Axion Marketing Budget is $50,000 per month. All 15% would be converted into increased Marketing spend by the Marketing Team to promote Axion.

This option could have a significant impact on price. Increased marketing brings in new attention and new wallets, which typically results in increased buying behavior and appreciating price.