Capital Appreciation Mining Token based in Manchester, United Kingdom
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.
With AX1, we are offering token holders the chance to participate in a managed mining operation and enjoy capital appreciation via contractually guaranteed economic rights in the portfolio of mined coins. After deduction of any costs and liabilities incurred by the issuer, at least fifty percent of the value of the mined coins will be placed in a segregated account in order to asset back the AX1 Tokens. Under this arrangement, the Issuer will have NO further entitlement to withdraw, or otherwise use for any purpose of the issuer, ANY of the assets of this segregated account: its value therefore provides a solid basis for the perpetual asset-backing of the AX1 token and peace of mind to AX1 token holders that the Tokens are a true and verifiable store of value. The assets held in the segregated account, though off limits to the Issuer will not just languish, however, but continue to be advised upon by the Investment Advisory committee and therefore could be deployed in Proof of Stake activities and or by being traded as part of exchange operations to the increased value of the token holders. The segregated account will even be audited on an annual basis to provide yet more confidence to token holders with the results posted onto our online portal for review.
We will provide a very brief outline in this document of what “mining” is in terms of cryptocurrencies. The reason for this is that 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 $10,000 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.
Throughout this Whitepaper we have tried to minimise the use of jargon and have avoided the use of technical diagrams and schematics. Advanced readers will already understand all of the themes discussed throughout, so we have tried to aim at the level of “aware” beginner.
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.