Welcome to This Week In Cardano

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Hi Cardano Community,

Welcome to This Week In Cardano - your daily Newsletter covering the major updates in the Cardano Ecosystem!

This is what we have for you today:

• 🪂 The upcoming Axo token Airdrop

•  🥺 KYC for claiming Airdrop

• 💎 Gem of the Day

This Week In Cardano

Your Daily Newsletter covering all major events happening in the Cardano Ecosystem

The upcoming Axo token Airdrop

Axo Trade is one of the most anticipated projects on the Cardano. Formerly known as Maladex, Axo aims to revolutionize the financial industry with its decentralized system, focusing on building a trading platform for digital assets and an exchange settlement layer for the global open market.

As the new year began, Axo Trade announced its plans to conduct an airdrop of its Axo tokens. This exciting development has garnered attention from the community, but there are also some interesting details that came with the Airdrop announcement.

But before we go into those details, let's talk a little bit about Axo Trade.

What is Axo Trade?

Axo Trade, the decentralized trading platform being built on the Cardano, is aiming to revolutionize the world of finance by providing universal access to markets and powerful financial tools all in one platform.

Axo trade is being developed by Generation Lambda, a company led by Jarek Hirniak, a certified quant with extensive software development experience, including experience leading large-scale teams.

Its protocol is claimed to be efficient by design, with every feature and capability written and executed on-chain while complex computation is handled off-chain. It is also aimed to be fair at its core, with a formally verified Order Matching Engine that guarantees the best execution price and order of arrival.

One of the unique features Axo would be offering is its programmable swaps, which allow users to translate their ideas into success by expressing any financial transactions as autonomous on-chain code. These swaps enable an unlimited number of order types, including conditional orders, time-sensitive orders, stop-loss and market-triggered orders, and accumulation strategies.

Axo also aims to offer advanced risk management capabilities, allowing users to dynamically protect their portfolio composition with triggers based on volatility, VaR, and custom formulas.

In addition to its robust trading features, Axo offers a wide range of financial products, including indexes, futures, and options. It also provides institutional-grade tooling for market makers, enabling capital-efficient liquidity modeling and impermanent loss management. With its focus on efficiency, fairness, and non-custodial solutions, Axo is aiming to set a new standard for trading and pioneering the transition to a fair and efficient financial system for everyone.

Axo Airdrop Announcement

A portion of Axo Trade's initial funding came from the Maladex Initial Stake Pool Offering (ISPO). However, the ADA rewards generated from the Maladex stake pools were not used for the development of the Axo Trade protocol.

Axo Trade has now returned the ADA assigned to every wallet originally delegated to the Maladex pools. This return also includes the min pool fee of 340 ADA from the first block minted per epoch.

The decision to return these funds was made due to unclear regulatory guidance on the treatment of income generated from stake pools, and serves as a testament to Axo Trade's commitment to compliance and transparency.

As a gesture of appreciation for the community support, Axo Trade is gifting AXO tokens to eligible members of the community through an airdrop.

Are you curious about how to claim your AXO tokens?

Look no further than the Axo Vault, where you'll be able to access your eligible tokens.

20% of your AXO tokens will be available immediately upon platform launch and 80% of your AXO tokens will be locked in a smart contract, vesting over the course of a year.

But before you can do so, you'll need to complete a thorough identity verification process, known as know-your-customer (KYC). This will require you to provide documentation, a phone number, an email, and even a "proof of liveness" through a webcam to verify your identity.

Why KYC to claim your Airdrop?

Axo Trade requires users to complete a know-your-customer (KYC) identity verification process.

KYC is a standard requirement in the financial industry and Axo aims to innovate the open global financial markets. If Axo Trade were to be negligent in complying with financial industry regulations, it could face sanctions, loss of licensure, and even being shut down, hindering financial entities from considering using the protocol. This could be a death blow to the founding goals of the platform.

But the KYC process is not a requirement to use the Axo platform. According to the team, Axo users will be able to use their verified data to create decentralized identifiers (DIDs) In the future.

Conclusion

Axo Trade is aiming to revolutionize the world of finance by providing universal access to markets and powerful financial tools all in one platform.

But to do that, it has to comply with all the necessary regulatory requirements and take a safe path to achieve the founding goal of democratization of financial opportunities.

That's why KYC is a part of the Airdrop claiming process. But the KYC process is not a requirement to use the Axo platform.

Interested in sponsoring this Newsletter?

💎 Gem of the Day 🧵

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

Are you curious about how to claim your AXO tokens?