Submitted By James McFadden — a.k.a Metal on Discord A member of the Axion Advisory Council
Think of the OTC as Axion’s personal in-house bank, where the various fees paid by buyers and sellers on the open market pay, along with funds from the Axion Accelerator collects, all come together to create one big fund or as we like to say in Defi, pool…
Over time, as this fund builds up, Axion stakers will have an opportunity to swap their liquid $AXN with the USDC held in the OTC Pool, and in doing so, they will avoid paying the sell tax that was recently added to the $AXN contract. It’s important to note that only those who hold an existing stake will be able to access the OTC Pool. While there are still a few details to work out, one thing is certain… we are committed to getting this done. You may also want to read my previous article regarding this process.
What truly makes the OTC Pool an important tool is this. As stakeholders are able to access the OTC to sell their liquid $AXN, every single token sold into the OTC Pool will be burned and removed from liquidity, further adding to the deflationary strategy the team is dedicated to supporting and building out. The second thing the OTC Pool will help do is reduce the overall selling pressure we are still seeing on the open market. By selling your $AXN to the OTC Pool, it will no longer be diluting our liquidity.
As I‘m getting this article ready to publish, other team members are working to get the voting portal set up so you can cast your votes on this protocol. Your votes are very important in this process so we can determine just how much our community supports this effort. While it may diminish other aspects of our tokenomics, it will also support our foundation in some very critical ways.
This is just one critical and important step as we set the stage for everything that is to come and I assure you, there is so much more coming our way and we can’t wait to share it all!
As always, be sure to follow us on Medium, come hang out with us on Discord, join us for Axion Fridays on Telegram, and follow us on Twitter!
And now… please cast your vote…
The Axion Launchpad is your ticket to the future of crypto.