Statement on the $AXIS Sell-off of 28–29 October Over the past two days, a series of addresses sold a large volume of $AXIS on-chain. We want to set out clearly what these tokens were and what we are doing about it. 1. No team or investor tokens were sold. All Core Team and investor allocations, together with every other locked allocation, 835,000,000 $AXIS (83.5% of total supply), remain in the vesting contract, which is jointly administered with Binance: 0xAFE41cfd4C21f1D896678e32C5AD456ea41835e6. Anyone can verify the balance on BaseScan. Not a single token has left it, and none unlocks before the 12-month cliff. 2. Where the sold tokens came from. The tokens sold came from the initial circulating supply set out in our published tokenomics, specifically part of the Ecosystem allocation. Many ecosystem recipients are not crypto-native, so their allocation was delivered through a single OTC counterparty, under a written agreement that includes lock-up terms. 3. What we believe happened. The pattern of the sales, which went through exchange deposit routes and hundreds of fresh addresses within hours of delivery, strongly suggests that the OTC counterparty sold these tokens on the open market. If so, this is inconsistent with the agreement. 4. What we are doing. - We have suspended all further dealings with this counterparty. - We are reviewing the agreement with legal counsel and will pursue every remedy available under it. - Going forward, any remaining Ecosystem tokens will be distributed only through on-chain vesting. The team‘s tokens remain locked, and our commitment to building Axis is unchanged.