AX
AX is the collateral token for APTs and the governance token of AthleteX.
Last updated
AX is the collateral token for APTs and the governance token of AthleteX.
Last updated
Each APT Pair is backed by AX in the LSP Contract. When additional AX is added to the LSP contract, APTs are minted. Similarly, APTs are burned when AX is redeemed from the staking contract. This means APTs are always fully backed 1:1 with AX in the LSP contracts.
There are various incentives designed to encourage AX holders to participate in minting, redeeming, and providing liquidity on the DEX. LP fees are paid to AX LPs for providing liquidity to APT markets. There are also yield farms available for LPs to allocate incentives to the most in-demand markets. The scale of these incentives is determined by AthleteX governance. Since governance is decentralized, AX holders vote on LP incentives, APT listings, and other system factors.
AX is the system governance and collateral token. AX has an inflationary or deflationary supply at the discretion of token holders. The team recommends the system go into deflationary supply during major sports seasons since stakers earn a maximal amount of fees from high swap activity; alternatively an inflationary supply during offseasons so stakers remain incentivized to stake with AX emissions.
The distribution of AX is as follows:
