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
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 $15000 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.
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.
AX1 Concept
We wanted to do something more than launch just another token that distributed mined coins. Instead, we wanted that mining pool to actually help create long-term capital value for the token itself.
Mining Adaptability
Many current mining operations spend huge amounts of money on hardware, in many cases that hardware is not very adaptable between coins. We wanted to avoid this as far as possible as we would rather mine coins more likely to increase in value than less likely to increase in value for the same net cost. The ability (within the obvious constraints of current technological possibility) to switch our rigs from mining one coin to another at short notice as directed by the Strategic Advisory Committee (more below) is a key consideration in our overall plan.
Avoiding over-concentration risk
This factor is closely connected to mining adaptability. When analysing many of the current mining operations that have been established for some time, we observed that in many cases the operations were too focused on one particular coin. We wanted to avoid this and instead mine several coins, from day one.. The layout of our data centre building lends itself very well to this as we can easily demarcate our miners by coin, even down to individual bays. With planning permission already approved for a second site, AX1 will build an additional structure that will also facilitate the above.
Research & Development
Concentrating absolutely all resources on today’s mining operation only makes sense in a totally static mining space: one in which coins never deplete and the diffi culty of mining them never increases. We know, of course, that no such mining space actually exists. We also know that in order for our token to be the best token in this category, we will need to constantly innovate and adapt our operation to keep up with both new technology and the dynamics of what coin to mine. To this end we are placing a major focus on R&D so that we can be sure we are the leaders when it comes to fi nding new avenues of profi t.
Operational scalability
The whole project has been designed from inception with scalability in mind. The target amount to commence work on the second site in England is $10 million and when this amount is reached, work will commence on the second site and funds deployed to fi t out this custom-built mining centre. Planning permission has already been approved for the second site. If the crowdsale raises more than can be deployed on these two sites, the issuer already has commitment for use of space in an existing operation in Canada and is in discussion over precise terms — this will be operationally integrated with, and controlled by, the base site in Manchester.
We believe that we have created a Token that offers real tangible advantages to token holders — one that will ensure long term value and capital appreciation.
Watch out for AX1’s whitepaper which will be being published shortly. Subscribe to our mailing list https://ax1.io