The concept of AX1 is to give token holders the chance to profit from the mining of various cryptocurrencies without the need for any technical knowledge. AX1 token holders are effectively buying a stake in a centralised mining pool, managed from a state-of-the-art data centre. The rewards from the mining activity will be accumulated within the pool which, in turn, will increase the value of the AX1 mining token itself. The value of the AX1 tokens will be further elevated through the following growth opportunities:
- POW vs POS
- Forward selling
- Secondary market
- Mined coin portfolio
- Growth of the cryptocurrency market cap
We will provide a very brief outline in this document of what “mining” is in terms of cryptocurrencies. The reason for this is that
AX1 is very much targeted not only at those who already know the cryptocurrency world but also those people who may have watched Bitcoin’s meteoric rise in price in 2017 and are now perhaps kicking themselves for missing out.
Of course, many of those who have missed out would now probably be reluctant to pay over $10,000 for one Bitcoin. But with the AX1, token holders will get to hold Bitcoins and other altcoins and benefit from any further price increase without having to buy them.
Throughout this Whitepaper we have tried to minimise the use of jargon and have avoided the use of technical diagrams and schematics. Advanced readers will already understand all of the themes discussed throughout, so we have tried to aim at the level of “aware” beginner.
Newcomers to the world of cryptocurrencies should get a good impression of what we set out to achieve with AX1 and how we have in fact achieved those aims.
The Crowdsale
The Crowdsale will run for 8 weeks from the 9th April 2018 - 16.00 UTC.Crowdsale Tokens = 22,222,222 AX1 tokens
Soft Cap: 1.25 million AX1 tokens. Funds to be utilised to accelerate the road map.
Hard Cap: 10 million AX1 tokens. 22,222,222 million AX1 tokens
Distribution of tokens
2% of the tokens are set aside for the Bounty campaign. 8% will be distributed to the AX1 Founders.
90% will be made available to the public via the pre-sale and public ICO The ICO will be staged over four periods to reward early adopters.
The table below shows the bonus availability
Use of Funds:
Token Bonus Summary
Remaining available AX1 Tokens, including any unsold AX1 Tokens from the previous stages (20 million AX1 Tokens are available in the crowd sale, however 22,222,222 can be issued to cover the allocation to the affiliate campaign and the founders). At the conclusion of Stage 4, any remaining unsold tokens will be burnt.
Accepted payments for the presale are GBP. In the public ICO, AX1 tokens can be purchased only purchased with Ethereum. The base cryptocurrency will be Ethereum. Other cryptocurrencies will be exchanged via the Shapeshift API. The AX1 tokens will be sent to the user’s personal respective cryptocurrency wallet after AX1’s Token Sale Stage 4 ,subject to participants complying with regulatory guidelines.
The Solution
With AX1, we are offering token holders the chance to participate in a managed mining operation and enjoy capital appreciation via contractually guaranteed economic rights in the portfolio of mined coins.
After deduction of any costs and liabilities incurred by the issuer, at least fifty percent of the value of the mined coins will be placed in a segregated account in order to asset- back the AX1 Tokens. This represents a real, contractual, substantive and auditable value guarantee and is a key strength of this offer in addition to the other attributes of the AX1 Tokens discussed elsewhere.
Under this arrangement, the Issuer will have NO further entitlement to withdraw, or otherwise use for any purpose of the issuer, ANY of the assets of this segregated account: its value therefore provides a solid basis for the perpetual asset- backing of the AX1 token and peace of mind to AX1 token holders that the Tokens are a true and verifiable store of value.
The assets held in the segregated account, though off limits to the Issuer will not just languish, however, but continue
to be advised upon by the Investment Advisory committee and therefore could be deployed in Proof of Stake activities and or by being traded as part of exchange operations to the increased value of the token holders. The segregated account will even be audited on a quarterly basis to provide yet more confidence to token holders with the results posted onto our online portal for review.
Technology
The technology used in mining consists of both hardware and software. The hardware is known as a “miner” or “mining rig”. Originally, mining could be done using a standard desktop computer, but for most coins this is no longer possible and a specially designed miner is now needed to mine most cryptocurrencies, particularly bitcoin.Miners are GPUs (Graphics Processing Units) rather than CPUs (Central Processing Units) because GPUs are better adapted to processing large amounts of repetitive workload, making them more suitable for the type of labour intensive work involved in cryptomining. The issuer of the AX1 tokens will use the proceeds of the ICO largely for the purposes of acquiring the miners.
The AX1 team includes several experienced analysts in the mining market. In addition we have already retained external advisers to ensure that we get the right mix of miners to fit with our strategic vision. By way of example, the most popular manufacturer of Bitcoin miners is Bitmain, and its lead product for Bitcoin mining is the Antminer S9.
A recent competitor coming to market is the Halong Mining DragonMint 16T miner, which claims to be the world’s most efficient Bitcoin miner as it runs faster and stays at a much lower temperature than others on the market. Another consideration is the Bitfury B8, for when we deploy the additional purpose built facility.
Needless to say, the mining team is currently very busy analysing all options available and modelling the optimal mix of miners. The full deployment strategy and desired inventory list will develop over the period up to and during the ICO, with final decisions on the whole inventory being taken once the ICO has closed.
Target Market
Former and potential home minersAs anyone who used to mine Bitcoins in the early days will already know, mining today is not at all comparable with mining in 2010. Whereas reasonable results could be achieved previously with decent home computing equipment, nowadays home mining will produce far too much noise and heat to be entertained by most households. These two factors are almost certainly sufficient to deter most, but add to them the difficulty in allocating enough space for viability, problems in sourcing of rigs, the obstacle of achieving correct mining diversification and coping with subsequent legal issues like creating noise pollution and fire risk, only the keenest miners will still be operating from their spare room today.
Newcomers to Crypto
Many hundreds of thousands of people all over the world are today regretting the fact that they did not buy into Bitcoin when it was $10 or less. The stories in the media of so many “Bitcoin Millionaires” are enough to turn even the most sanguine of souls green with envy. Many of these people are sadly resigned, albeit somewhat reluctantly, to the conclusion that the opportunity has passed them by. The risk of buying at around $16000 per Bitcoin (at the time of writing) is simply a risk too far for many.
AX1 is the perfect investment for such people. We are not suggesting buying Bitcoins but mining them instead. As we will be mining a lot of different altcoins as well, we are also auto-diversifying the portfolio element of the AX1 token’s value.
Roadmap
More Infomation
WEBSITE: https://www.ax1.ioANN: https://bitcointalk.org/index.php?topic=3258496.0
WHITEPAGE: https://www.ax1.io/ax1_whitepaper.pdf
FACEBOOK: https://www.facebook.com/ax1mining/
TWITTER: https://twitter.com/Ax1mining
TELEGRAM: https://t.me/joinchat/H0-70RCWgkTDq1YHrzQKqg
Author
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1785333
My ETH: 0xef1A7Ef523c3eed127fe7572859c3378257FC987