AXL- THE PERFECT DEX FOR ALL INVESTORS AND TRADERS

The introduction of blockchain technology and cryptocurrency has provided a major boost in the global financial industry, allowing people to send, and receive more in a secured and efficient way. The issue of insecurity, and high transaction charges which the current financial system (centralized finance) employs are being taken care of by blockchain potential and cryptocurrency because of their great potential,

They make it easy for people to enjoy and benefit from digital space like never before. Through these powerful financial tools (blockchain technology & cryptocurrency) a more reliable system of finance known as decentralized finance has been born. Decentralized Finance popularly known as DeFi offers the world an opportunity to be in total control of their funds and enables them to carry out their financial activities without the involvement of intermediaries.

Since cryptocurrency has come to stay, there must be a marketplace known as Exchange, where users can interact and trade their digital assets. Cryptocurrency exchanges are divided into centralized and decentralized exchanges. They provide users with the opportunity to buy and sell their assets in pools to make profits. Centralized exchanges make use of obsolete technology and lack security, also they do not allow users to have full control of their accounts and funds.

Meanwhile, decentralized exchanges are transparent, offer a high level of security, and need no mediator during transactions. Despite all these and many more benefits which decentralized exchanges present to users, their lack of interoperability on various blockchain networks has been their major challenge. But the good news is that AXL has come to provide the world with a truly decentralized cryptocurrency exchange that is designed to allow interoperability between different blockchain networks.

AXL- A SCALABLE PLATFORM THAT ALLOWS USERS TO SWAP THEIR CRYPTO ASSETS ACROSS DIFFERENT CHAINS

AXL is an innovative and excellent DEX (decentralized exchange) which is designed with a smart routing on the Ethereum Chain as well as the Binance Smart Chain that will not only support Liquidity Providing, Staking and Yield Farming which are the easiest ways of earning passive incomes, but will also (IDO) Initial Dex Offering Launching, Non-Fungible Token (NFT), and Lending & borrowing.

AXL platform is created to provide various decentralized solutions that will benefit individuals and entities. It is a highly secured, and reliable platform that enables users to freely move their cryptocurrencies or digital assets from one chain to the other. AXL platform employs the Poly network bridge, and its scalability helps it in tackling the problems which existing exchanges are currently facing today.

The AXL platform’s goal is to provide crypto users, traders, and investors with a decentralized exchange that will allow interoperability between different blockchains, and this is achieved by utilizing Poly Network which is a powerful interoperability protocol for heterogeneous blockchains. This network (Poly Network) can support or work with up to 9 heterogeneous chains which include Bitcoin, Ethereum, Binance Smart Chain, Cosmos-SDK, Heco, Neo, etc because of the Poly Network ease of membership.

AXL- INNOVATING NFT AND MAKING IT MORE ATTRACTIVE

It is important to understand that the AXL platform as a project starts with its Non-fungible tokens (NFT), which is a form of digital art designed by the great platform and will be listed on several NFT marketplace. non-fungible tokens without mincing words have become the new and innovative way of creating expression. It allows artists, companies, and brands to provide both authenticity and originality in this fast-growing digital age.

NFTs are built on blockchain technology and they can easily be associated with items like videos, audio, photos, digital arts, files, etc. Unlike cryptocurrency, NFTs can not be exchanged with others because of their non-fungibility and each one (NFT) has a unique identification that can be used to provide proof of ownership. Apart from helping artists, and creators to profit from digital assets, NFT also provides solutions for licensing digital creation.

AXL platform is determined to improve NFT and brings it to the limelight, in this regard 10,000 valuable collectible characters which are inspired by AXL INU, will be produced by AXL. Each of the characters will be unique to the other and anyone can collect any of these characters from the NFT marketplace where they are listed.

FEATURES OF THE AXL PLATFORM ECOSYSTEM

The following are the outstanding features of the AXL platform.

  • HIGHLY SECURED: AXL platform is built with a high level of security to ensure the maximum safety and security of users and their funds.
  • INTEROPERABILITY: This is one of the features of the AXL DEX that gives it an edge over other decentralized exchanges. Through Poly Network, the AXL platform will support multi-chain smart contact protocol fully, to enable users who have assets on these platforms to execute trades without switching from one chain to another chain, which will go a long way in reducing operation costs drastically.
  • LOW FEES: Transactions costs on DEXs are usually low, but in AXL DEX transaction costs are very much lower than on other exchanges. In addition, transactions are completed at a very high speed, because of the platform’s high throughput.
  • STAKING: Staking is one of the ways by which cryptocurrency holders earn free crypto assets as a reward. Users on the AXL ecosystem will be able to stake their cryptocurrency holdings, and in return, they will be rewarded. Users who stake AXL tokens will earn free AXL tokens as a reward.
  • YIELD FARMING: This is one of the innovative products of Defi. It allows liquidity providers to lock up their cryptocurrency in a liquidity pool that is based on a smart contract, which will enable them to generate high returns in the form of additional income. Yield farming on the AXL platform is more rewarding and profitable.
  • LENDING & BORROWING: As a truly decentralized exchange, the AXL lending and borrowing model allows users to grow their assets to enable them to maximize their profits. While the lenders will be able to receive interest from the borrower on their crypto stash, the borrowers will use their current holding as collateral for another crypto-asset which they need through a loan. On the AXL platform entities and individuals can lend crypto at ease, this feature will enable them to deposit digital assets into lending pools, and borrowers whose desire is to exchange their asset for another will be able to access it.

ABOUT AXL TOKEN

Token Name: AXL INU

Symbol Ticker: AXL

Maximum Supply: 100,000,000,000 AXL

Pre-sale Price: $0.00075/AXL

The AXL token as the platform's native token will be used in carrying out transactions on the AXL platform. Another important use case of the token is that it will also be used for the AXL Launchpad program. To be eligible to participate in the AXL platform's upcoming projects, users will need to stake some AXL tokens, in the same manner, for projects that want to be listed on this Launchpad we need to pay fees in AXL tokens.

The AXL token is beneficial to the token holders, it gives them access and the right to vote and participate in decision making. It also allows holders to create proposals and enable them to take part in some governance functions and acts. But all of these depend on the number of AXL tokens that the users have in their wallets.

CONCLUSION

One of the benefits of a decentralized exchange or aggregator is that it provides users with the best prices from their DEX trades, AXL as a revolutionary DEX splits users to trade across numerous decentralized exchanges along with its attractive liquidity pool which will ensure that users get the best prices at the lowest slippage possible.

AXL DEX allows traders to perform trade directly without involving any mediator. And since it supports the ETH and BSC chains, users will be able to swap their assets across both chains at ease and faster, with a very low fee.

AXL will utilize buyback and burn mechanisms which will help in retaining the token's valuation and at the same time help in supporting the growth of the ecosystem as well as in maintaining the price stability of the AXL token, thereby making the project more attractive to global investors.

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WRITER’S INFORMATION

Writer: Mansonndubuisi

Bitcointalk Username: Mandez4real

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Manson Ndubuisi

Manson Ndubuisi

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I am a crypto writer and a blockchain technology enthusiast. Here is my homepage link, https://mansonndubuisi.medium.com/