On Tuesdays, Thursdays and Sundays we hold our regular auctions. In each auction, there are currently 200,000,000 (2 million) AXN available for sale. People bid Ethereum (ETH) into the auction to win a share of AXN at a discounted rate compared to buying on the market (Uniswap).
These auctions also allow our network participants to earn AXN dividends simply by staking Axion (AXN).
Regular auctions take place every Tuesday, Thursday and Sunday.
They hold around 200,000,000 (200m) AXN in them.
You must stake your winnings for a minimum of 60 days (single stake per auction).
Regular auctions receive a 10% bonus compared to buying on Uniswap.
NEW - Both auction types, grant an additional 6-20% Bonus AXN to your principal when staking over 350 days.
80% of the Ethereum that goes into regular auctions repurchases AXN from Uniswap and distributes it to stakers.
19% goes to the Axion Foundation.
1% goes to The Eden Reforestation Project.
Auction is capped at 100% capacity to prevent it from overselling.
How to participate in the Regular Auctions?
You can enter an auction simply by visiting the Auction Platform and bidding ETH into the auction. Please note that once the 24-hour auction is complete, you will be required to Stake your winnings for a minimum of 60 days. So make sure you have left some ETH in your wallet to cover these fees.
There is no deadline to make your stake, you can leave your winnings unstaked indefinitely, but they won't earn interest or dividends until staked. Take a look at our step by step guide to bidding in the auctions here.