The Token is off to a bit off a rocky start, so what's going on?
The previous couple versions of this article we’re actually both correct and incorrect in a couple of instances, as of November 2021, this will be correct. Since those articles, I have actually learned a ton about crypto, decentralized exchanges, and a lot of other blockchain-related tech.
My first article was actually a lot more correct than the second, as the CEO was more in damage control mode as the crypto was plummeting. In reality, it as all just liquidity pool issues like I said in the first. Liquidity pools function by putting money into a liquidity pool, and the price trades relative to the balance of crypto in the liquidity pool. Once the token launched, there was no buying pressure, because there is still pre-orders open on their website page, and as it sold off, it plummeted the price causing more selling, and ultimately, this drains the liquidity pool. At launch, a liquidity pool only has Ethereum and Axis token in it, and you have to pay cash for Ethereum, so as someone sells off, it puts more axis token in the LP and removes Ethereum. Once all the Ethereum is gone, then there’s no way to trade, and you have to put more money into the liquidity pool.
Since so many people were selling off, it was costing a lot of money, and eventually, they just decided to stop throwing money at it. This meant all the money was drained and there was no way to trade.