We wanted to develop something new, rather than launch

another tokenised right, to coins from a mining pool which

distributes the coins mined without building any long-term

capital value into the token itself.

The intention was to open up the cryptocurrency market

to investors with no technical knowledge as well as those

already familiar with it.

AX1 has secured the use of two entire floors in a state of the

art data centre in Manchester, UK, and retains an option to

construct additional purpose-built premises in the north of

England for enterprise level mining operations.

Due to the complexity of the problems it is in fact almost

impossible to mine profitably from home using standard

computer equipment. However, there Is still a great deal

of profit to be made for those who can access the right

equipment, suitably managed,cooled and administered.

The only people looking to mine currencies soon will be

people with access to a centralised mining pool that is built

to withstand this increasing complexity.

We are also convinced that industrial-scale mining will

dominate the field within a few years, meaning our

investment in the equipment and premises to house such

an operation will place AX1 in an excellent position for the

future.

With AX1, we are offering token holders the chance to

participate in a managed mining operation and enjoy

capital appreciation via contractually guaranteed economic

rights in the portfolio of mined coins.

After deduction of any costs and liabilities incurred by the

issuer, at least fifty percent of the value of the mined coins

will be placed in a segregated account in order to asset

back the AX1 Tokens. This represents a real, contractual,

substantive and auditable value guarantee and is a key

strength of this offer in addition to the other attributes of

the AX1 Tokens.

Under this arrangement, the Issuer will have NO further

entitlement to withdraw, or otherwise use for any purpose

of the issuer, ANY of the assets of this segregated account:

its value therefore provides a solid basis for the perpetual

assetbacking of the AX1 token and peace of mind to AX1

token holders

AX1’s Roadmap

AX1’s crowdsale

Jersey Regulatory treatment of the issuer

In order to give prospective ICO investors a degree of

protection and comfort that may not be available in many

other jurisdictions, and being mindful of the guiding principles

pursuant to which the Jersey Financial Services Commission

(the“JFSC”) discharges its functions as the Island’s financial

services regulator (the “Guiding Principles”) which are to have

regard to:

• the reduction of the risk to the public of financial loss due

to dishonesty, incompetence, malpractice or the financial

unsoundness of financial service providers;

• the protection and enhancement of Jersey’s reputation and

integrity in commercial and financial matters;

• the best economic interests of Jersey; and the need to counter

financial crime both in Jersey and elsewhere,

•

the JFSC has required AX1 Limited (the “Issuer”) to obtain a

consent from the JFSC under the Control of Borrowing (Jersey)

Order1958 for the issue of tokens pursuant to the ICO (a

“COBO Consent”).