As per our latest announcement, one of the required steps for our 2022 vision was to bring in a 5% sell tax. This is now in place, meaning that 5% less liquidity leaves the pool with each sell, which of course helps to sustain the price.
The taxed AXN is then split into two, helping our tokenomics in a further two ways:
-Half of the taxed AXN is instantly burned, adding to our deflationary measures.
-The other half is distributed to stakers as a new form of liquid dividends.
Since launching the tax just 5 days ago, approximately 500 million $AXN has been sold, a far cry from the rate at which tokens were being sold during the previous 8 weeks. This has resulted in over 12.5M $AXN being burned and 12.5M $AXN being distributed to stakers as an additional dividend to our wBTC divs.
As we approach the one-week mark of implementing the tax, we would like to put the exact percentage up for a community vote.
The following changes are now up for vote:
Keep the tax at 5% - 2.5% burned, 2.5% divs
Increase tax to 8% - 4% burned, 4% divs
Increase tax to 10% - 5% burned, 5% divs
A 2.5% burn could increase the price by around 40%, and reduce total supply by around 10%
A 4% burn could increase the price by around 75%, and reduce total supply by around 15%
A 5% burn could increase the price by around 102%, and reduce total supply by around 17%
This is a multi-option poll, please vote for ALL the options that you would be happy to have. The option with the most votes in total will be implemented at the end of the 7 day voting period.
Users must have at least 1m AXN staked for 1875 days (5 years) or more in order to vote.