We at AxionGuide aim to make Axion understandable to newcomers and for experienced crypto investors.
Be aware that we are not part of the Axion team, and the information provided here is not to be considered as financial advice in any way. Continue reading for a complete tutorial on how to buy Axion and be sure you use the bonus offered for 10 % extra tokens when buying your Axion tokens through the Axion Auction.
The basic idea of Axion is that you stake(deposit) it for a period of time, in exchange for interest, just like a traditional Certificate of Deposit(CD).
For price protection of Axion, there is a safety mechanism called Minimum Auction Bid(MAB). MAB will initially be calculated from the 7-day average price on UniSwap.
This means that if there is a very small amount of ETH sent in, you get an equal price to the UniSwap price, and the tokens that are unsold will roll over to the next auction. By using my bonus, you get 10% extra tokens compared with UniSwap.
The tokens that are up for auction come from unconverted Axion and penalties that are built into the Axion contract. You can read more about penalties in the Axion staking guide.