Hello all, I am writing this to announce a bad news unfortunately.

Since I launched the AXE Protocol, I’ve been working hard to keep this project alive, because I was truly believe in this rethinked Olympus DAO setup, with a sustainable, but high APY, with an idea, that the Treasury can be kept in different crypto tokens and rebalanced based on the FTSE Russel Capping Methodology.

During the whitelist phase, the launch, after the launch I was actively part of the community, answered all the questions from everyone. Unfortunately the first punch in my face was, when we reached the 16th epoch and most of the early investors staked out and cashed out. These people did not care about the future of the project or the idea, they just wanted to make money quick, like investing in a shit coin.

After this I initiated a Treasury Booster program, what was a pure failure. Most of the people invested during the program swapped their discount price AXE directly to BUSD, what caused that the Liquidity Pool on Pancakeswap was totally crashed, so the AXE Price dropped to 0.22 BUSD/AXE. Parallel I was keep in touch with multiple crypto “influencers” about potential cooperation and marketing options, but I figured it out, that most of them was a scammer without any real followers. To make a good marketing for a small project like this is very hard. Twitter, Facebook, Google and all the big advertising platforms ban the crypto related projects.

For these reasons I decided to stop this project.

I execute now the redemption plan and redistribute the left of the Treasury to the AXE holders and stake AXE holders (marketing, development, payment of mods, shillers and other freelancers contributed to the project will be deducted from the Treasury). The IP of the axeNFT will be handed over to an other project, who can maybe use for other purpose.

What do you need to do? Nothing. The redistribution will be automatic, based on the todays snapshot, so all unstake/stake action will be useless. Compensation will be paid In BNB from the Redemption Reserve.

I hope you will understand my decision and thanks for your support along this journey.

— Max