Upbit lists Axis Robotics (AXIS), won-market turnover tops 29 billion won in 30 minutes

Upbit listed Axis Robotics (AXIS) on its Korean won, BTC and USDT markets at 10 p.m. KST on Oct. 21, two hours after announcing the listing. Trading on the won market topped 29 billion won in a little over 30 minutes, and the price touched a high of 481 won. The token is not yet listed on Bithumb, Coinone or Korbit.

Upbit listed Concrete (CT) on Oct. 19 and added Metaplex (MPLX) to its won market on Oct. 20. With AXIS, Upbit has added a new won-market listing for three straight days. The exchange also opened a promotional event that ranks users by trading volume and net deposits, with a prize pool of 2,883,000 AXIS.

A 410-won reference price, and a first trade just above the floor

Upbit posted its listing notice at 8 p.m. KST on Oct. 21 and said deposits and withdrawals would open within 1 hour and 30 minutes. At 9:50 p.m. it published the reference prices used to calculate the minimum permitted sell prices: 410.34 won on the won market, 0.00000371 BTC on the BTC market and 0.3094 USDT on the USDT market. For about five minutes after trading opens, buy orders are blocked, and sell orders more than 10% below the reference price are also restricted. Only limit orders are accepted for about two hours.

Upbit's one-minute candles show the first trade came at 10:05 p.m., when the buy restriction lifted, at 370 won, just above the sell floor of about 369 won, or 10% below the reference price. About 5.5 billion won changed hands in that single minute, and the price jumped as high as 454 won. The 481-won high came at 10:12 p.m.

As of 10:34 p.m., AXIS traded at 423 won on Upbit's won market, with cumulative turnover of about 29.3 billion won. At the same time, CoinGecko's aggregated global price was $0.30, or about 400 won at Coinyong's exchange rate of 1,327 won per dollar. That puts the Upbit price roughly 6% above the global average. Overseas, AXIS trades mainly on Uniswap, a decentralized exchange on the Base chain, and on XT.com and BingX. Upbit's market information flagged the BTC market with a "price fluctuation" caution and the USDT market with a "global price difference" caution that night.

A project that has people steer robot arms in a browser

Axis Robotics crowdsources the data needed to train robots. Contributors use a web browser to steer a robot arm in a simulated space, recording motions such as picking up a cup or opening a drawer, and take over to correct a trained robot the moment it makes a mistake. The resulting motion records, called trajectory data, are cleaned and used to train robot artificial intelligence (AI) models. Upbit said in its notice that AXIS is expected to be used as a reward for data contributions.

According to the project's official documentation, it had more than 229,000 contributors and over 7.3 million trajectories as of Oct. 10. Each record is given a unique ID and logged on the Base chain. The documentation says about 20,000 users left roughly 180,000 trajectories in 10 days during a first-quarter beta. In the second quarter, the project released a dataset of 207 tasks and more than 50,000 demonstrations. It also published a paper saying that further training a publicly available robotics model on the data raised its LIBERO-Plus benchmark score from 83.9 to 88.8.

16.5% circulating, with team and investor tokens locked for a year

The official tokenomics page says AXIS has a fixed supply of 1 billion tokens with no further issuance. At the token generation event (TGE), 165 million tokens, or 16.5%, were released, including 80 million for the ecosystem, 60 million for exchange liquidity and 20 million for the contributor airdrop. At Upbit's price of 423 won, the circulating supply is worth about 69.8 billion won, and the full 1 billion tokens about 423 billion won.

• Ecosystem (51.08%): unlocks monthly from the first month after TGE through month 35
• Contributor rewards (10%): another 30 million at month 3 and 50 million at month 6
• Core team (15.2%) and private rounds (16.47%): locked for 12 months, then unlocked monthly over 24 months

The page says the full supply will be unlocked by month 35. For the community sale (1%), a quarter was released at TGE, and the rest unlocks over six months starting in month 6.

Deposits only via the Base network