- AXIA has introduced its AXC coin staking program.
- Staking platform protects users from market volatility and inflation.
- AXC users can get the maximum annual reward of 192 percent.
Consigning AXC out of circulation for certain periods can help users to earn rewards on their stake that are compound and paid out daily. According to the platform, users can get the maximum annual reward of 192%
As the average annual percent yield (APY) of US banks stands at 0.06% in October, interest rates of savings accounts are very low in the developed world. However, banks are filled with an inflow of customer cash deposited in savings amid the pandemic. This situation in parallel with the hike in inflation depicts that private customers banking with fiat money will see their fund value declining over time due to minute interest rates and constant devalued currencies.
Meanwhile, AXIA’s motivation for the staking program is to offer its users protection against inflation rates. Staking AXC reduces the circulating supply and therefore contributes to the continuous growth of the whole ecosystem. AXIA system uses each stake to burn an equivalent number of coins and enhance the AXC value.
Moreover, the extra value of AXC also develops from the supporting assets in the AXIA Treasury. The treasury is capable of expanding over time whereas the supply of AXC decreases at the same time. This is where the tokens become short in supply over time, thus rewarding early adopters and the entire community to participate in the stake project.