aXpire to Unlock 35M Tokens for Market Making Reserve
We are happy to announce aXpire’s partnership with a market maker, initially on KuCoin exchange, to provide liquidity to the AXPR trading pairs. The market maker will add depth to order books, tighten trading spreads, and protect AXPR from market manipulation.
Liquidity is crucial for a healthy market. Without an order book with depth and tight spreads, the trading experience for purchasers is far from ideal. To address this challenge, aXpire is to unlock 35,000,000 AXPR tokens from company supply this week to ensure sufficient liquidity across the KuCoin exchange, and later to provide liquidity for the AXPR token’s listing on Uniswap. The tokens are not being unlocked to be dumped or otherwise sold onto the market, but rather to provide liquidity and a trading reserve for the market maker to utilize effectively. The tokens will still remain in control of aXpire.
A spin-off from LSG, aXpire is a blockchain SaaS company that offers a multitude of B2B and B2C solutions. Launched on Ethereum and Binance Chain, the AXPR token is involved with all software solutions created by aXpire. This partnership with the market maker will allow for the trading experience to improve for AXPR token purchasers.
“At present, many cryptocurrencies suffer from a lack of liquidity,” explained Gary Markham, the Chief Executive of aXpire. “This creates a difficult environment for traders to participate in. By unlocking and providing AXPR tokens to the market maker’s trading reserve, we want to ensure aXpire’s trading market is liquid, and that we can later also list on Uniswap.”
We are doing this for two specific reasons:
- To Reduce the Friction
Market makers will help alleviate the friction for traders participating in the market through deeper order books and tighter spreads.
- Facilitate Growth of the AXPR Token Ecosystem
The market makers will ensure there exists a potential buyer and seller for AXPR. This will support healthy token economics which, in turn, will make our ecosystem easier to participate in.
We want to keep our community’s trust intact by announcing this token unlock beforehand, and by creating a welcoming trading environment for AXPR holders that can strengthen aXpire’s position in the market.
aXpire is an off-shoot of Legal Solutions Group (LSG) that offers cloud-based software and applications to businesses and individuals, with a history of having worked with the likes of Coca-Cola, Nike, IBM, and other global brands. Founded in 2017, the company has launched a number of solutions onto the market and counts a top 10 global hedge fund amongst its clients.