AXIA, the organisation building a digital ecosystem around the world’s first hyper-deflationary digital currency – the AXIA Coin (AXC), has announced the launch of its staking program.
By delegating AXC out of circulation for set periods, users earn rewards on their stake, which are compound and paid out daily.
The maximum annual reward users can receive on a stake currently stands at 192%.
Interest rates on savings accounts are at record lows in the developed world, with October’s average for US banks standing at just 0.06 annual per cent yield (APY).
At the same time, banks are awash with an influx of consumer cash put into savings amid the pandemic.
This, along with rising inflation, suggests that many private customers banking with fiat will see the value of their funds eroded over time due to minuscule interest rates and continually devalued currencies.
Nick Agar, founder of the company, said this staking program would offer “unparalleled rewards within the industry”.
“The program is specifically designed to not only protect against inflation, but enhance participants’ potential returns regardless of any potential market fluctuations,” he said.
The AXIA staking program was designed to protect against market volatility while also providing a unique rewards structure compared to alternatives.
With the launch of the staking program, AXIA offers users a hedge against inflation.
By staking their AXC, users reduce the circulating supply, thus contributing to the continuous growth of the entire ecosystem.
With every stake, the AXIA system burns an equivalent number of coins, further amping up the scarcity and enhancing the value of AXC.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.