AthleteX $AX Pre-Sale Investment

Summary:

Let's expand our partnership with AthleteX and diversify our community fund with an investment into the $AX token.

Background:

AthleteX was the first project to announce that they are deploying their application on the SX Network blockchain. They are currently conducting a pre-sale for their AX token. The pre-sale allows investors to buy the AX token at an attractive price of $0.08/token (representing a fully diluted valuation of $8 million).

Abstract:

The SX Community Fund currently has ~40 million USD in it ($39m in SX & $1m in DAI/ETH/USDC), and receives monthly revenue of +$100k from the SX Protocol. This proposal would take $100,000 from the treasury and invest it into the AX token pre-sale to buy 1.25% of the total AX token supply. The investment will be a combo of DAI ($30,000), ETH ($30,000), and SX ($40,000).

These tokens will be held on the balance sheet of the SX Community Fund, and can earn staking and liquidity revenue for the fund once the token is live. Some of the AX tokens can also be airdropped later on to SX stakers.

Motivation:

To grow our community fund and expand our alignment with AthleteX through a mutually beneficial investment into the AX token in the pre-sale.