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Axis Production Launch

· 5 min read
Derrick
Derrick
Marketing

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After extensive development since the start of 2024, we’re excited to announce that Axis is officially live. Among the many missions we set out to accomplish, below is what best recaps our journey so far:

  • Create a Modular Infrastructure Layer for Auction Development and Deployment: Axis is the first permissionless platform for developers to build auction-driven applications by combining various modules. Auctions are the backbone of many critical use cases in crypto, and we believe there’s potential to push these boundaries even further. More details on how developers can get involved will be shared soon.

  • Showcase Auction-Driven Mechanisms: We’re bringing sealed-bid auctions on-chain to optimize for price discovery, addressing a recurring pain point in our industry. Our journey to this point, including the complexities of on-chain auctions, why we see bidder privacy as a major unlock, and our exploration of various implementations, is documented here.

Introducing the Origin dApp​

Our first native dApp is designed to power next generation token launches, and will be up and running with the following features:

Sealed-Bid Auctions (Token Distribution)​

EMPInfographic

A sealed-bid auction system that ensures true price discovery by allowing users to place private and encrypted bids, eliminating PvP dynamics. Sealed-Bid Auctions allocate tokens to the highest bidders, with the clearing price set by the last successful bid to be filled. Learn more about the underlying mechanics.

Fixed-Price Sales (Token Distribution)​

FixedPriceInfographic

Fixed-Price Sales are a straightforward mechanism that allows participants to purchase tokens at a set price on a first-come, first-served basis. Although not new to crypto, our implementation enhances the UX for buyers and offers greater configurability for sellers. We expect it to serve as the first step in a multi-phase token launch.

Vesting Tokens (Advanced Auction Feature)​

Sellers have the option to add vesting terms for token launch participants. This means after an auction ends, winning bidders will need to wait a pre-specified duration before claiming the underlying payout tokens. Currently, Axis only supports linear vesting tokens.

Direct-to-Liquidity (Advanced Auction Feature)​

If implemented by sellers, a liquidity pool will instantly be seeded with all of or a portion of auction proceeds, providing a layer of programmatic security for token launch participants. More info on how this protects users here.

Allowlists (Advanced Auction Feature)​

If implemented by sellers, access to a token launch will be gated for a specific group of addresses. Typically used for Fixed-Price Sales to reward early adopters or community members.

Supported Networks, Bidding Tokens, and Contract Addresses​

Axis is initially deployed on several Ethereum Layer 2 networks with support for various bidding tokens. L2s provide a better user experience with low gas fees and quicker confirmation times for transactions, which is important in a fast-paced auction application. All contract addresses can be found here.

  • Arbitrum | WETH, USDC, USDT, DAI
  • Blast | WETH, USDB
  • Base | WETH, USDC
  • Mantle | WETH, USDC, USDT
  • Mode | WETH, USDC, USDT

Axis Fees Explained​

Protocol Fees​

Axis has a protocol fee for each auction type, denominated in the quote token. At launch, fees for all auction types are set at 0%. Axis will be a community-owned platform, and governance will have the ability to adjust this in the future.

Referral Fees​

Axis implements a referral program at the smart contract level to connect auctions with bidders, acting as a decentralized marketing fee accessible to anyone who promotes and directs traffic to specific auctions. This fee can be set by the seller for each auction, denominated in the quote token.

The more winning bids or total auction value directed through your links, the more you earn. Instructions for creating referral links can be found here.

Curator Fees​

Curators play a crucial role by vetting and showcasing token launches on Origin. While the value-add per curator can vary, whether an auction is curated is an important consideration for token launch participants.

An auction owner can set a curator that can be compensated for the performance of that auction. Unlike the protocol and referrer fees, the curator fee is denominated in the payout token. Curators receive the same asset as buyers so their incentives are aligned.

How to Get Started​

For Users​

To help you get started with Origin, we have comprehensive guides in our documentation. These include overviews of each auction mechanism, advanced features, how to use the dApp, and what to expect during each stage of a token launch.

In the meantime, follow us on Twitter or join the community for more details about the upcoming token launches on Origin!

For Projects and Curators​

The Axis Protocol is permissionless, allowing anyone to issue auctions by directly interacting with the smart contracts. We have built the Origin dApp on top of the Axis Protocol to provide a seamless experience for token launches. However, only auctions supported by approved curators will be displayed on the application to give users confidence.

If you’re interested becoming a launch partner or a curator, check out the resources below: