AXIA announces temporary halt of AXIA Coin trading at KuCoin in preparation for AXIA Network mainnet launch

All trading of AXIA Coin (AXC) at KuCoin was paused as of 7:00 a.m. EST (11:00 a.m. UTC) this morning, March 29, 2022. This pause in trading has been instituted so that the two organizations can take the technical steps necessary ahead of the AXIA Network mainnet launch and the accompanying introduction of the much more versatile network coin.

In the interim, AXC holders have the option to transfer their tokens into their AXIA Ecosystem or external wallets. It should be noted, however, that a seamless process for migrating ERC-20 AXC tokens to the new AXIA Network coins will be done through AXIA Capital Bank, where users can also enjoy several member benefits. In order to accommodate any inconveniences related to the KuCoin trading halt, AXIA Capital Bank will be announcing that all new and existing staking participants will receive a one-time account balance bonus on the deposited amount associated with their staking subscriptions should they be processed prior to AXIA Network mainnet launch. Additional information will soon be released regarding other new benefits that are on the way for AXIA Capital Bank members.

It should also be noted that current staking pools will be closed just prior to mainnet launch. New staking pool programs with reduced APRs will be introduced at the launch of the network. As the team has shared since the outset of the program, the initial staking subscription rates were always created in order to reward early holders and adopters and would not continue forever. More information concerning the updated staking programs and bonus allocations will be provided in a follow-up newsletter from AXIA Capital Bank to its members and the broader AXIA community this week.

If you are currently in a staking pool, your APR will not be impacted. With the vast majority of holders already staking their AXC, the circulating supply has continued to be reduced and is today at an all-time low; KuCoin and AXIA reasoned it would be best to begin a secure and orderly transition to the listing of the network coin with the knowledge this process of a reducing supply may continue even further leading up to the AXIA Network mainnet launch.

The utility of spending AXC from AXIA Capital Bank accounts remains available for staking participants and the upgraded debit card program will soon be launched, as well.

A Countdown Clock will be going live this week on AXIA.global denoting the go-live date of the AXIA Network mainnet that the AXIA community can follow along with in real time. Following the launch of the network and its new native coin, AXIA will be able to un-pause trading, as well as list with multiple new exchanges to provide another avenue to assist bringing AXC to the masses.

More information will be available soon regarding the upcoming launch of the AXIA Network and all the benefits that the AXIA participants can receive as soon as the transition is complete. This evolutionary period for the project will set AXIA up for success in the long run and ultimately help prepare it - both technologically and from an awareness perspective - for the incredibly exciting year ahead.