As discussed in our previous post, a key component of the AXIA system is the AXIA Transaction Link (ATL) – a smart contract-powered fee generation and rewards system. Smart contracts are made of an open but unsolvable code written on a blockchain. They define automated business rules in which AXIA functions as money in the ecosystem. Each AXIA ecosystem member has a dedicated user category, such as individual, business, or charity. The ATL uses this information to facilitate a specialized fee router, which is the fee and rewards engine of the ecosystem.
When community members hold, transfer, convert, or spend AXIA Coin, they become eligible for customized fees and rewards based on the account they have. This is similar to what people do in the traditional financial world when they interact with payment processing systems or enjoy cashback or other reward programs.
However, AXIA is the first such system in the digital currency space, and it is offered exclusively to those who participate in the AXIA ecosystem.
With the ATL, we can finally move away from a monetary system where the transactional value is stripped away from the individual for the benefit of a company, bank or “middleman” and, instead, value cycles within and between members of the AXIA community.
As we have already discussed in our earlier posts, AXIA coins can be used to make payments, facilitate exchange, and power new applications. It can be used to replace dedicated loyalty point programs, fuel the non-profit sector, reward knowledge or information sharing communities, integrated into communications applications, and become the dedicated currency of online marketplaces.
Within the AXIA ecosystem, exists the AXIA Reserve, which is designed to safeguard and reinforce the value of the AXIA Coin. Based on a consistently growing basket of diversified assets that are managed using a proprietary Asset Accumulation Algorithm, AXIA’s current value is supported by real-world assets such as real estate, cash, art, precious metals, and gemstones. The value of the AXIA Reserve will vary in size and volume over time, but the total supply of AXIA Coins will not, providing the coin with balance, stability and enhanced value over time.