AWAX is building a new blockchain-based solution for investing in exchange-traded funds and value, passive coin-traded funds and active coin managed funds. Through the effective use of smart contracts, order and issuing fees can be reduced to a fraction of traditional costs. This will make investing in AWAX more financially inclusive across all income classes. Artificial geographical trading restrictions, including the need for a bank account, can thus be eliminated. Counterparty risk can be reduced to mere minutes. Furthermore, AWAX is introducing a new system of passively managed cryptocurrency baskets, which reduces the risks and high fees of actively managed coin funds by using liquidity providers, incentivized by arbitrage effects. AWAX system is based on an underlying rule-based asset allocation rather than high-risk contracts for difference. It uses the asset-first principle, which incentivizes asset vendors to deliver assets before getting paid, thus further reducing investor risk.
AWAX ICO began on November 2, 2018. The ICO token supply represents 60% of the total token supply, so there is a total of 18,000,000,000 AWAX tokens available, for 0.05 USD each. The ICO funding target is 15,000,000 USD, the funding cap is 200,000,000 USD and is expected to end on December 15, 2018 or when the funding cap is reached.
AWAX ICO features a bounty campaign as well as a 20% bonus on the Pre-Sale and 10% on the Main Sale.