Axion Announced an Upgrade to its Staking Portal

The project’s most recent announcement revealed an upgrade to its staking platform, which is about to arrive in only a few days.

Published March 8, 2021 Updated 3 months ago

Cryptocurrency staking is massive these days, and it mostly became this popular due to the emerging DeFi trend, where staking is one of the most popular activities. In short, it allows users to lock up their coins for a certain period of time, and receive rewards in exchange. The locked coins are then used for providing liquidity, or some other purpose, according to the project’s design.

Axion, itself, does that. It allows users to enter a smart contract where they can lock up their coins for a specific, previously agreed upon period of time, and in return, they receive rewards. The longer the period, the better, with the maximum length being 5555 days, or 15 years.

Axion has made a lot of plans for 2021, aiming to improve and upgrade its service. New upgrades, features, and developments are either on their way, or already here.

Axion Announces an Upgrade to its Staking Platform

On March 3rd, Axion announced on its Discord server that Venture Auction development has been completed, and that the project is currently in the process of auditing the system. The audits are expected to take 7-10 days, and after that, they will go live.

Since then, the project announced that the Venture Auctions will be launched on March 12th, which is in only two days. At this time, the marketing will kick into high gear, which is another plan that the project has come up with. Essentially, the project plans to use large amounts of money to onboard new users into Axion, by allowing them to stake their coins and earn Bitcoin dividends.

The next part of the announcement is even more important, however, as the project revealed that developers managed to simultaneously work on a full upgrade to the UI of the staking/auction portal, which will also be ready to go live around the same time. Judging by the Discord announcement, the developers are rather proud of the upgrade they have created for the platform, noting that it ‘looks absolutely phenomenal.’

Axion White Paper will Finally Get an Update 

Lastly, Axion developers also managed to update the project’s white paper, which is actually something that has been anticipated for a long time now. The reason why it took so long is that the developers have used historical metrics to run countless simulations on the long-term performance, for the benefit of their users. Axion wants to be responsible, and it only promises its users what it can actually deliver, without giving false promises and exaggerated claims, as many other projects tend to do to attract new users, developers, and clients.

Most people these days remember overexaggerated claims as one of the main marks of ICOs, and nobody wants to see the DeFi sector share the same fate as the ICO trend. As a result, Axion has been very careful about what it promises, as promising too much to attract new people is one of the easiest ways to create controversy, disappoint clients, and lose the trust of its community. 

So, the project dedicated a lot of time to creating and running simulations in order to determine what can be expected in the future. While the simulations cannot provide 100% true answers, they still offer a realistic prediction, rather than an empty promise.

Of course, the crypto industry’s nature makes any prediction or forecast questionable, particularly these days, when volatility is massive and price surges and crashes happen on a daily basis.

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Ali Raza Ali is a journalist with extensive experience in content creation, including online journalism and marketing. He holds a master's degree in finance and enjoys writing about cryptocurrencies and FintTech. Ali's work has been published on a number of major financial publications.