Cryptocurrencies have been promoted as successful use cases for a unit of account and as a store of value. Stablecoin projects have exploded into the market promoting themselves as the ideal digital medium of exchange. However, the potential of digital money that utilizes blockchain and smart contract technology goes beyond a digital translation of the existing economic paradigms.
We envisioned AXIA as a blockchain-based platform that doubles down on the idea that cryptocurrencies can be built as entirely new forms of money. As independently developed currencies, they’re free to implement better, more transparent and efficient monetary systems. In our case, one that embeds a new monetary characteristic: Creation of Value.
With this in mind, we introduced a smart contract superstructure that directs value back to coin holders via fee generation and rewards. The use of automated smart contracts at the core of AXIA’s functionality allows for convenient and efficient features such as fee classifications and user categorization. Users of AXIA decentralized applications are able to receive discounts, loyalty points, and cash-back in return for economic activity or other forms of contribution. These smart contracts are open yet immutable programs that define the business rules that undergird all the transactions that take place in the AXIA ecosystem.
More so, participants in the AXIA ecosystem get to add value via decentralized activity. A portion of the fees collected by transactions on AXIA is used to balance an underlying asset-base called AXIA Reserve, mitigating volatility in an automated fashion. A proprietary Asset Accumulation Algorithm (AAA) optimizes the value held in the Reserve via the purchase of assets.
This is what makes AXIA an alternative to both the traditional economic system and existing cryptocurrency projects. By linking a decentralized public blockchain to the accumulation of assets, the ATL effectively cycles economic value back to members of the AXIA community. This same value grows the more the coin is used on AXIA’s expanding ecosystem of decentralized applications.
On AXIA, coin holders retain and maximize the value of their digital assets while participating in the utility offered by AXIA payment services, wallets, communications, exchanges, and other applications. A fee sharing network creates opportunities for all users to participate in value creation.