Coin market trackers reveal that the crypto market is north of $2.1 trillion. Considering the industry’s fragmentation, this is no mean feat. If anything, developers should be chest-thumping because of this mega achievement.
Still, amid the wild success, we should be aware of the continued isolationism and fragmentation in the space. For instance, the most active and valuable smart contracting platform, Ethereum, is still “old school” using legacy architecture to provide a solution for a fast-moving crypto space. Its inability to link to other modern chains like the Binance Smart Chain (BSC), for instance, is bogging advances, therefore negatively impacting adoption.
This should be a concern, especially because Ethereum is riding on the first-mover advantage. It ironically remains a choice for most gaming, DeFi, NFTs, and other dApps seeking to integrate the blockchain in their operations.
Statistics indicate that over $160 billion of digital assets are under management in various Ethereum-based DeFi protocols. However, the good news is that other smart contracting platforms with better scaling and throughput like the BSC, Solana, and Polygon are carving out a decent market share.
The AXL DEX Solution
With this in mind, dApps providing fitting solutions of allowing DeFi users to tap the best of both worlds from a single interface stands a chance of being valuable. It is precisely what the AXL decentralized exchange (DEX) aims to provide to the global DeFi community. According to the portal, they integrate smart routing on Ethereum and BSC.
These ledgers, as mentioned earlier, are activity-dense layers with well-established DeFi ecosystems. Adhering to the ideals of blockchain, all DeFi dApps on these respective platforms remain non-custodial and open to all users regardless of jurisdiction. Besides allowing token swapping, the DEX supports token staking, liquidity provision, lending and borrowing, a launching pad for projects, NFTs—and an internal marketplace, and yield farming.
The broad nature of the AXL ecosystem offers several advantages to DeFi users and projects. Most importantly, a user is given options and can weigh which network provides more value. While Ethereum is the leading with DeFi dApps, its on-chain fees are prohibitive. On the other hand, users can swap on the BSC, handling the same projects on Ethereum since the Binance-backed chain is interoperable with the Ethereum EVM.
By giving users options, AXL DEX stands out. At the same time, their support of a launching pad also makes it easier for projects to raise funds by tapping on the DEX’s client base. Unlike ICOs, there is better security for investors and crowdfunding projects. The AXL ecosystem’s token holders can reap maximum benefits since the AXL token is integral to the dApp.
AXL Token Presale Ongoing, 25 Billion AXL Allocated for Investors
Ahead of their launch, the AXL Ecosystem is currently conducting its presale, distributing AXL tokens to investors. The presale started on December 18, 2021, and continues for ten days ending on December 28, 2021. According to the project’s developers, the presale is split into two phases where 25 billion have been allocated to investors. Gate.io will host the first sale as a public sale, while the second phase on the BSCPad and ETHPad will be conducted as a private sale. The only supported currency during the presale is ETH and BNB, where each AXL will change hands at a fixed rate of $0.00075. All purchased AXL tokens will be distributed after the public and private sale.
The AXL token serves various functions. Token holders who hold a given threshold amount would vote on proposals. At the same time, these holds can forward proposals on improving the project. The AXL Ecosystem team also said AXL tokens have freezing capabilities. AXL can be locked or “frozen” and barred from accessing specific functionalities such as transfers through this feature.
