WAXC Exchange
12PCM has released it's opinion for the best route forward for AXIA Holders. The summary of opinion, and full opinion, can be seen here: https://12pcm.com/so/3cP8AovbH?languageTag=en&cid=web
The opinion presents a framework, whereas a large part of the framework is to purchase Wrapped AXIA ($WAXC+0000) on the ZERA Network for something we believe is more tangible, a Gemstone Token ($RUBY+0000). As of writing, both these tokens have been created.
12PCM has 60,000,000 $RUBY+0000 tokens in its wallet under contract which dictates the swap of $WAXC for $RUBY as described in the opinion. We anticipate the swaps will be commencing from October 15th and be ending November 14th.
To participate, you first need to "unlock" your AXIA, by wrapping it, and then further pursue an exchange. You can find information on WAXC here: https://www.zavane.com/portfolio/waxc
To enter into an exchange, you must complete the agreement here with 12PCM: https://12pcm.com/12pcm-waxc-ruby-exchange-redirect.
For ease of processing, we ask that you also complete https://12pcm.com/12pcm-waxc-authorization-redirect to allow for sharing of your information with us from the tokenizer.
Once you have WAXC deposited into your ZERA Network Wallet, you should be able to send the WAXC you want to exchange to 12PCM's ZERA Network Address: EjJEfSpkLj1MQc5EfDapx3eTL5H2audtGZshLDPsL1JP
After completing the above, the processed outlined in the document agreement shall commence.
As mentioned in the opinion, 12PCM assists and serves as an attestor for individuals transitioning to WAXC upon completing the Multi-Part Agreement (MPA), accessible at https://12pcm.com/axc-opinion-redirect. Those who complete the MPA will receive further information and support via email. Every AXIA Holder, regardless of the size or recognition of their holdings, is encouraged to complete the MPA. We are here to support everyone, not just a select few. Feel free to share this option with any/all AXIA Holders.
Any/all AXIA holders are welcome to pursue any/all aspects framework as they see fit for their individual circumstances.
$WAXC+0000 can be found here: https://www.zavane.com/portfolio/waxc
$WAXC+0000 on the ZERA Network can be found here: https://explorer.zera.vision/main-tokens/$WAXC+0000
$RUBY+0000 can be found here: https://www.zavane.com/portfolio/ruby0000
$RUBY+0000 on the ZERA Network can be found here: https://explorer.zera.vision/main-tokens/$RUBY+0000
12PCM Wallet (under contract for ruby swap) can be found here: https://explorer.zera.vision/address/EjJEfSpkLj1MQc5EfDapx3eTL5H2audtGZshLDPsL1JP
Please note some of the third-party links and services noted above are still in development and improving but we believe worthwhile to share.
Update: The Cost Adjustment Addition
Update released: October 24th, 2024
Please note, the following message has been adapted from the MPA email list.
Hundreds have signed up and completed steps available in the opinion and framework. There is now significant data available which allows us to start to predict the near term future and what it holds.
If you contributed capital to acquire AXIA coins or if you did work/services in exchange for AXIA coins, you may want to complete this document. If you didn’t, this document may not be for you.
To be short and to the point, there is a reasonable likelihood that additional distributions will be made for many based on a cost adjustment addition provided RUBY tokens remain available at the end of the exchange period (after November 18th, 2024). For many, or even all, this could be a significant boost to your RUBY holdings without any further contribution required by you. To ensure you are considered for the adjustment, you may wish to complete this document: https://www.12pcm.com/axc-contribution-redirect. This document should be simple and easy to complete. It asks for your contributions, both to purchase AXIA coins and AXIA coins received from work/services provided (if applicable). For most, you will leave section 1A empty. Further, it and has some legal clauses that defines penalties in the case of inaccurately provided information. Provided you enter accurate information reasonably known to you, completing this document should have no downside and can potentially benefit you as described further in this communication.
To be extremely clear, this is not a promise, but a goal, and depends on factors such as participation in the overall framework. We are trying to enhance the framework, as we always have, for those who have chosen to participate.
The remainder of this communication will primarily focus on some of the technical aspects of the Cost Adjustment Addition and some broad mathematical principles behind it. If you don’t care about the specifics at this stage, you can safely disregard the rest of this communication.
Today, we will be foreshadowing principles behind the cost adjustment addition which in our opinion can potentially result in additional contributions to your ZERA Network Wallet.
Any adjustments would be a bonus on top of what many made the choice to sign up for being the 50:1 swap of WAXC to RUBY. The bonus could be significant in many cases, even potentially multiple times of what the swap was itself for those who have been more disadvantaged to this point. Please note, this cost adjustment addition will only apply to those who complete the swap from WAXC to RUBY.
At the beginning, we estimated there were 3 billion coins that satisfied eligibility criteria. There may be that many, but upon review and actual participation data, it does not look like we will hit that maximum number.
It appears that there is a general range of RUBY tokens being distributed is approximately 0.1-0.7 per dollar of one’s contributions to AXIA. For example, if one had purchased $100k USD, they would have generally between 10,000 and 70,000 RUBY after the 50:1 swap. A concentrated portion would be between 40,000 and 60,000 RUBY in this example.
The cost adjustment addition aims to level the field. The mathematics are a bit complex but, but to over simplify, if “Bob” who contributed $100k to AXIA had exchanged all their WAXC for 20,000 RUBY, and “Alice” who had contributed $100k had exchanged all their WAXC for 50,000 RUBY, and the “cost adjustment target” ended up being 0.7 RUBY per dollar, “Bob” may see an additional 50,000 RUBY, and Alice may see an additional 20,000 RUBY. The “cost adjustment target” will need to be determined on/after November 19th, 2024. We expect any associated distribution(s) to occur in the last week of November. The above assumes that one first exchanges all their AXIA for WAXC.
This described “cost adjustment target” will be a maximum of 1 RUBY per dollar contributed, and we shall be able to use a maximum of half of the unused difference of RUBY tokens to get up to that. For example, if 20,000,000 RUBY tokens are used, that leaves 40,000,000 RUBY total remaining, thus half of the remainder (20,000,000 RUBY) may be used for the cost adjustment. In this example, it means that 20,000,000 RUBY shall be distributed from the bottom up until everyone under the cost adjustment target is at the calculated cost adjustment target. We understand this may seem complex. We will handle the math and as applicable, will distribute additional RUBY to your wallet as described.
It is impossible to know how many will exchange WAXC for RUBY prior to November 19th but given current exchange numbers as of writing, we believe this could have significant positive effect on many if not all.
We are working daily to increase the impact we can have. These anticipated enhancement(s) could be substantial, and this won’t be the last potential enhancement you’ll see. One upcoming enhancement, which for now must remain undisclosed, cannot be revealed until after November 19th. For those of you reading closely, you've already seen verbiage describing this possibility, though you may not be anticipating it to materialize.
If you have any questions or concerns, feel free to reach out. Please note, it is impossible for 12PCM to make a determination until after November 19th of what cost adjustment target will be and if/how you are specifically effected by it.