Review on Axis DeFi by LUIS RIVERO R
Cryptocurrency with an algorithm that will maintain its value. (specially developed as DEFI also using Uniswap)
It is called a stable token that is based on algorithms that are executed to maintain their value, what makes this project different from others is that it has its own Oracle, (that is, it executes information without the need to be tied to a single service). There was no prior sale or ICO all funds
Now, basically, the developers of this project devised it with their own protocol to release liquidity to the market, the idea is as follows. When the price of MOST is higher than one dollar, the total volume is deflated, this in order that there are sales motivations to the users that or require.
When the price is less than a dollar, more liquidity will be issued or the supply will be inflated so that users will have more assets in their wallets, this in theory makes more users want to keep and buy Most.
In general, in this way they plan to keep the price at a dollar or that there is not so much volatility in the market, the data used to maintain the price will be the Oracle of Uniswap. The most interesting thing about this project is the way in which decentralized markets are used to create finance tools that can be adopted by any user, the idea in general sounds a little crazy but it makes sense, although they should be a little more noticeable in DEFI projects, however Most have a good structure but it depends 100% on their code and the community that supports them.
Pros
- It has its own mechanism for issuing tokens to the market
- It is a use case of a defi.
Cons
- Token has a low market volume.
