NFT Portal Release
3/13/2022
We’re excited to release the NFT Portal to the Axia community — we’d like to thank you all for your patience with us as we worked through it.
Before we get to the release, we’d like to discuss the development of the NFT portal and the tokenomics surrounding it as well as our future plans.
Tokenomics
The NFTs bring utility by allowing investors to passively earn a portion of emissions by simply holding the NFT. Tokens are ‘passively’ earned as they are automatically accredited to the holding wallet.
The NFTs as well as earnings are deployed and delivered on the Matic (Polygon) network, citing cheaper transaction costs and greater accessibility for your average investor.
Initially, we determined that 5% of the daily emissions should be dedicated to NFT earnings — essentially making it like an investment pool, with the investment being Axia NFTs as compared to a basket of tokens. With our calculations we decided that 10% is a more appropriate allocation to NFT earnings. This 10% is distributed amongst all activated NFTs with Diamond tiers earning the most, Platinum next, and finally Gold.
What is Activation and Deactivation?
Wallets can hold and earn from more than just one NFT — for example, you can hold as many Gold NFTs you like and you will earn a proportional amount of Axia. To obtain more NFTs you will have to obtain them from marketplaces which will require deactivation to be able to sell. Whilst an NFT is deactivated, you will not be earning Axia passively, however you will be able to see it in your wallet and actively trade it.
The purpose of this function is to add fluidity to markets by creating a variable rates of earnings as tokens are distributed on a pro-rata basis to all activated NFTs only. This acts to discourage selling due to the lack of earnings whilst the NFT is deactivated thereby increasing the floor price of said NFTs.
How do you Activate or Deactivate NFTs?
To activate or deactivate an NFT simply head to the NFT page found on the Polygon dApp.
ALWAYS double check the URL of the page you are visiting before you connect your wallet. Make sure it reads https://polygon.axia.finance/ if utilizing the polygon dApp.
Step 1. Once on the Polygon dApp head to the NFT page listed on the Navigation bar
Step 2. Click on the NFT class you wish to activate or deactivate
The NFT portal will display all yieldnodes (NFT class) that you own as well as summarize the amounts that are active or inactive. Details are listed under the ‘Statistics’ card.
Step 3. Note the NFT number you wish to activate or deactivate
Clicking on an NFT class will greet you with a pop-up box that gives you further details on the unique NFT numbers that are activated or deactivated. Note the card ID that you wish to activate or deactivate. In this example we want to activate a card — which will be the card number 107.
Step 4. Type in the card ID in the activation box
Simply type in the card ID in the activation box and click activate or deactivate.
Step 5. All Done!
Confirm the transaction in your respective wallet i.e. Metamask and once the transaction is confirmed — you’re all set!
Step ???? Profit!
Don’t forget to add the Axia token contract address to your wallet and watch your Axia balance grow!
Polygon contract address (Axia): 0x49690541E3f6E933A9aa3cFFEe6010a7BB5B72d7
Stakers and NFTs
Stakers will be able to claim a gold NFT through a claim portal that will be released in the coming days. All Oracle, Lone, Defi and Swap pool stakers on ETH prior to the snapshot dates will be eligible. Details TBA — please follow us on telegram to stay up to date on the process to claim your NFT. https://t.me/axiaprotocol
Future Plans
New pools — Following the release of the NFT platform, our new pools will soon be active! Keep your eyes peeled for this.
NFT Marketplace — It is in our plans to add an NFT marketplace for our NFTs to allow them to be traded, with Axia being the native token for NFTs being bought and sold on the marketplace.
Fiat onramp — as detailed on our roadmap, this is still being pursued, however this is low on our priority list at this stage.
Community treasury — the community treasury will be a new feature we plan to implement and exact details are being explored. Funds earned from the protocol will go towards the community treasury. Axia holders will be able to vote on the use of funds in the treasury. This can be through the purchase of digital assets i.e. metaverse properties or blue chip NFTs, community giveaways, competitions and is considered completely separate from development funds that are already allocated for the project and it’s growth. The exact details on how ownership of assets and voting will be determined and is TBA.
How will the community treasury earn funds? An example is that a small fee will be deducted for using our NFT platform which will be sent to the community treasury. Other avenues are currently being explored and will be implemented. Feel free to share your ideas with us over on our telegram!
We will also be providing some initial funds for the community treasury.
Avenues to reduce and lock Axia — we are looking closer at the tokenomics of the Axia token itself and have explored options in locking tokens and reducing the circulating supply as well as introducing ways to “spend” and use Axia.
This starts by creating an ecosystem around the token, although pools assist as the Axia token comprises a proportion of these funds, we plan to expand our focus outside of pools. Our future NFT marketplace will expand the Axia ecosystem as it will allow Axia to be used as currency, or a denominator on the marketplace.
One of our other ideas is to introduce fixed term ‘vault’ where Axia will be locked for a 3, 6 or 12 month period with rewards being a bonus in emissions or tokens from partnering projects, potentially allowing us to act as a launchpad or avenue for new projects to raise a proportion of funds. For example, investors will be able to lock their tokens in the vault to earn tokens in a new project without investing capital or risking their Axia. Your locked Axia will always be safe. 80% of emissions earned will go to the new project with 20% being sent to the community treasury. The contributing project benefits from a higher holder count and the raising of funds. Projects will not be expected to raise their full capital requirements with us, moreso a smaller proportion during the initial launch. This idea is under discussion and may not be the route we choose to take.
These ideas are in their early stages and are subject to change — however it is an area we are looking at seriously as we realize that emissions can add a reasonable amount of selling pressure to the token.
We hope that this addresses a few of the questions out there in the community and provides you with a good ‘how-to’ for an exciting and long anticipated update!
Sincerely,
The Axia team
