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$AX

How $AX Backs APTs

APTs are backed by $AX in the Staking Contract. When additional $AX is added to the staking contract, APTs are minted. Similarly, when $AX is withdrawn from the staking contract, APTs are redeemed. 50% of all staked $AX is deposited into AX Swap Liquidity Pools, and the other 50% is deposited into the LSP contract to mint APTs.

AX Incentives

There are various incentives to encourage $AX holders to stake. Staking rewards and exchange rewards are paid to $AX stakers for providing liquidity to APT markets. The scale of these incentives is determined by AthleteX governance. When governance becomes decentralized, $AX holders will vote to determine incentives, APT listings, and other system decisions.

AX Distribution

The AX coin is the system governance and utility coin. AX coin has an inflationary or deflationary supply at the discretion of token holders. The team recommends the system go into deflationary supply during the major sports seasons since stakers earn a maximal amount of fees from high swap activity; alternatively an inflationary supply during sports offseasons so stakers remain incentivized to stake with freshly minted $AX.
The distribution of $AX is as follows:
Last modified 3mo ago