Introduction
The AXL project arose from a demand for decentralized solutions for individuals and businesses. The AXL platform can address a major issue that exchanges confront by employing the Poly network bridge. Poly Network is a heterogeneous Blockchain interoperability protocol that has a wide range of support across different Blockchains due to its simplicity of membership.
Bitcoin, Ethereum, Neo, Ontology, BSC, Heco, Elrond, Zilliqa, and Cosmos-SDK are among the 9 heterogeneous chains that Poly Network can support. The poly network protocol allows for cross-chain asset transfers between multiple Blockchains, and more than $4.1 billion has been transferred over 50,000 addresses on several Blockchains.
10,000 collectible characters inspired by AXL INU will be produced. Each piece of art will be one-of-a-kind and available for purchase on the NFT platform where it is listed. Personnel that are interested in collecting NFT art can do it as many times as they want. Each item can also be kept and resold at a later date for a higher price. The AXL project's second step is to build our own decentralized exchange, where trades can be conducted directly without the need for a central authority or a third party to hold crypto assets. Smart chain routing will be used to build the AXL DEX, which will support both the Ethereum and Binance smart chains.
This has the advantage of allowing consumers to quickly and cheaply transfer their cryptocurrency between various chains.
Features of AXL
Interoperability:
Interoperability: The AXL DEX's strong suit is interoperability. Through the poly network, we will fully enable the multi-chain smart contract protocol. At the moment, we only support the Ethereum and Binance smart chains. Users having crypto assets on these platforms can conduct trades without switching from one chain to the next, dramatically lowering transaction costs. Another benefit is that if a user believes a Blockchain is inefficient, cross chain compatibility allows the user to easily migrate to a different Blockchain that is either faster or has lower transaction costs.
Following the completion of staking and the minting of our NFT characters, work on the decentralized exchange will begin in earnest.
Secondary use cases:
AXL tokens will be directly tradable for other supported tokens on the AXL DEX, and cross-chain interoperability will allow AXL tokens to be quickly and cheaply exchanged for AXL tokens on another Blockchain.
Burning AXL tokens, Buybacks, and Burn Mechanisms:
Burning AXL tokens would imply the destruction of an AXL token in order to maintain the AXL token's value. Buyback and burn programs will serve to sustain the token's growth and price stability, making it more appealing to investors. Increased liquidity and lower price volatility are further benefits of the buyback and burn strategy. This creates a pleasant trading ecosystem that will encourage long-term growth for the platform and token holders while also assisting with the price stabilization of the AXL token. The DEX fees and interest earned by the lend & borrow model will be used to purchase and burn AXL/AXLS tokens.
Solution of AXL
Users will be able to make transactions on the AXL platform using the AXL token. For example, in order to participate in an upcoming project through the AXL Launchpad program, users will need to stake AXLs. Fees in AXLs will be requested of projects wishing to be included on our Launchpad website.
Holders of AXL tokens will have access to numerous projects launching on our platform as part of the AXL launchpad program. To participate in the IDO pre-sale, all users will be required to own AXL tokens prior to the product launch and at its conclusion. If you're a project owner who wants to advertise your tokens as an IDO, you'll need AXLs to pay the necessary fees.
Freeze - Freezing entails locking AXL tokens, blocking access to or specific functionalities of the tokens, such as token transfer. The ability to freeze AXL tokens will aid in the preservation of AXL tokenomics, as a set number of tokens will be locked for a period of three years, avoiding AXL token overcirculation.
Burn — In this situation, the AXL token will be burned in order to further stabilize and gradually boost the token's value. The phrase "burning" refers to the act of destroying bitcoin in order to reduce its total quantity. Fees received from the Dex by Repurchase and burn will be used to fund the burn.
Conclusion
This whitepaper goes over the AXL ecosystem's initial launch, which includes the AXL, AXL coin, and our own NFT debut. It is not an investment solicitation and does not represent a securities offering in any jurisdiction. All of the ideas mentioned in this paper are susceptible to change because they are forward-looking statements based on our executives' and team members' opinions and critical analysis.
Because all approved AXL sales are final and non-refundable, you should conduct thorough research into the other risks and costs associated with purchasing, holding, and trading the AXL token. You may not be able to buy or hold AXL token, or participate in services and programs that involve the use of AXL token, if you live in a region where the holding and sale of cryptocurrency is outlawed.
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