content page - aexon...tokens to fund the aexon cryptocurrency project, businesses and operations,...

Content Page

1. EXECUTIVE SUMMARY ............................................................................................................... 1

1.1 The AEXON Pledge .............................................................................................................. 1

1.2 Summary of Project ............................................................................................................ 1

2. The AEXON Vision ....................................................................................................................... 3

3. Problems and Solutions ............................................................................................................. 4

3.1 Summary of Problems and Solutions............................................................................... 4

4. Creating Value and Proving Concepts ..................................................................................... 9

4.1 Building Blocks .................................................................................................................... 9

4.2 Long Term Vision ................................................................................................................. 9

4.3 Co-Working Office Space ................................................................................................... 9

4.3.2 Potential and Value Proposition ............................................................................ 12

4.4 Technology Products ........................................................................................................ 13

4.4.1 ActivBM ....................................................................................................................... 13

4.4.2 Potential and Value Proposition ............................................................................. 13

4.4.3 Business Directory .................................................................................................... 14

4.5 eWallet Mobile Application with Card Load Function .................................................. 15

4.6 AEXON Programme Card .................................................................................................. 16

4.7 Payment Gateway .............................................................................................................. 16

4.8 The AEXON SmartCard ..................................................................................................... 18

5.1 General ...................................................................................................................................... 21

5.2 The Implementation of our AXN Token .............................................................................. 22

6. Cyber Security ........................................................................................................................ 26

7. Services ................................................................................................................................... 30

7.1 Loyalty ................................................................................................................................. 30

7.2 AXN Points Use Cases ...................................................................................................... 31

7.3 AEXON Exchange and AXN Token Secondary Market ................................................ 32

8. Utility Token Roadmap ......................................................................................................... 36

9. Partnerships and Corporate Structure ................................................................................... 37

9.1 Partners .................................................................................................................................... 37

9.1.1 Cryptocurrency Exchange, ePayments, eWallet, P2P Payments ........................... 37

9.1.2 Co-Working Spaces ................................................................................................... 37

9.1.3 ActivBM ....................................................................................................................... 38

9.1.4 Asia Law Exchange - ALX ......................................................................................... 38

9.2 AEXON Corporate Structure ............................................................................................ 38

9.3 Geo-Location Benefits ...................................................................................................... 39

10. Tokenisation Plan and Roadmap ........................................................................................ 40

10.1 Token Utility .......................................................................................................................... 40

10.2 Secondary Market.......................................................................................................... 41

10.3 Token Design and Build ................................................................................................ 42

10.4 Token Specifics ............................................................................................................. 42

12. Security and Legal ................................................................................................................. 47

13. Team ........................................................................................................................................ 48

14. Conclusion .............................................................................................................................. 49

14.1 Project Summary ........................................................................................................... 49

14.2 Critical Success and Risk Factors .............................................................................. 51

14.3 Next steps ....................................................................................................................... 53

IMPORTANT NOTICE AND LEGAL DISCLAIMER

PLEASE READ THIS SECTION CAREFULLY, AND IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).

The AXN tokens are not intended to constitute securities in any jurisdiction. This White Paper is not a

prospectus or offer document of any sort and is not intended to constitute an offer of securities or a

solicitation for investment in securities in any jurisdiction. This White Paper does not constitute nor

form part of any opinion on any advice to sell, or any solicitation of any offer by the distributor/vendor

of the tokens (the “Distributor”) to purchase any tokens nor shall it or any part of it or the fact of its

presentation form the basis of, or be relied upon in connection with, any contract or investment decision.

The Distributor is an affiliate of Aexon Pte. Ltd. (“AEXON”), and will deploy all proceeds of sale of the

tokens to fund the AEXON cryptocurrency project, businesses and operations, as described in the White

Paper below. Any agreement between the Distributor and you as a purchaser, and in relation to any sale

and purchase of AXN tokens is to be governed by only a separate document setting out the terms and

conditions (the “T&Cs”) of such agreement. In the event of any inconsistencies between the said

separate document and this White Paper, the former shall prevail.

You are not eligible and you are not to purchase any AXN tokens in the AEXON Initial Token Sale if you

are a citizen, resident (tax or otherwise) or green card holder of the United States of America or a citizen

or resident (tax or otherwise) of the People’s Republic of China or the Republic of Korea. No regulatory

authority has examined or approved of any of the information set out in this White Paper. No such

action has been nor will be taken under the laws, regulatory requirements or rules of any jurisdiction.

The publication, distribution or dissemination of this White Paper does not imply that the applicable

laws, regulatory requirements or rules have been complied with. There are risks and uncertainties

associated with AEXON and/or the Distributor and their respective businesses and operations, the AXN

tokens, the AEXON Initial Token Sale and the AEXON Project offerings (each as referred to in this White

Paper). This White Paper, any part thereof and any copy thereof must not be taken or transmitted to

any country where distribution or dissemination of this White Paper is prohibited or restricted. No part

of this White Paper is to be reproduced, distributed or disseminated without including this section and

Legal Disclaimers at the end of this White Paper.

1

AEXON TOKEN WHITEPAPER

1. EXECUTIVE SUMMARY

1.1 The AEXON Pledge

Our pledge to purchasers of the AEXON Utility Token (“AXN Token”), is that monies

raised will go towards a long-term business plan based on building an inclusive

Community.

We will launch an AEXON Community Gateway that will include an eWallet with a suite

of ePayments services running through a gateway which allows acceptance of both

cryptocurrencies and fiat currencies, low cost remittances around the region, an

entrepreneurs’ marketing platform through the community portal at first centred

around co-working spaces, but later growing to include multiple locations where

communities can congregate and the unbanked can market their cottage industries

and products and services, and a business and consumer community hub which will

improve the lives of the people living within the ASEAN region.

The AXN Token will operate on a payments and loyalty

programme ecosystem which will start regionally but

can be extended all around the world.

1.2 Summary of Project

We are anchoring the AXN Token on brick and mortar businesses and an inclusive

Community concept which will have specific benefits for our customers and will

generate significant revenues for long term sustainability of the AEXON Project, which

will in turn will drive the intrinsic value of the AXN Token higher as time passes. These

are:

2


● A Community Gateway landing page on an eWallet but allowing all members to be

visible and to promote themselves and their offered goods and services

● Technology Platforms to support our customers, and allow ePayments to move

towards an inclusive, cashless society

● Third Space offerings to house our initial digitally connected customers and serve

as community business hubs

This document will be used as the backbone for the management team to raise funds

to fulfil this 3-year business implementation plan and to run the AEXON Project to

generate increasing revenues and to bring value to the AEXON Community. Each

component of this overarching Project will be explained in detail and statements on

allocation of funds and subsequent returns will be provided.

3


2. The AEXON Vision

The AEXON Project is the vision of a Common ASEAN Standard based around the

AEXON Community Gateway and AXN Token that can streamline life’s important

functions such as community, business, and economic transactions.

With ownership of the AXN Token, payments will be simplified and will cost less. Our

customers, ranging from the digital nomad to the unbanked, will become empowered

in almost all areas of their lives.

We are collaborating with and entering into some exciting partnerships that will bring

specialised expertise and generate not only strong revenues but also significant

customer bases to our community.

4


3. Problems and Solutions

3.1 Summary of Problems and Solutions

The broad problem that we are solving with the AXN Token is that the world we live

in is largely fragmented, non-inclusive, disparate and “analogue”.

The advent of blockchain technology allows us to get everything aligned and digital,

into the One Community vision that we are striving towards. Community members can

be housed within our proposed AEXON Community Gateway built upon blockchain

technologies for financial transactions, unique user identification for each community

member at work, play, finance and life, and enabling the advent and usage of

community rewards programmes and points.

It is clear to all that current payment services and solutions in the world are

fragmented, exclusive, outdated and costly. About 50% of the population in the region

are estimated to be unbanked and shut out from credit and capital facilities as well as

5


the banking world. Many people in the region do not even have passports, so how then

can they get involved in the digital world that we are living in?

We solve this problem by connecting the entire community through one eWallet

solution.

6


7


Entrepreneurs face barriers to entry in markets, and would love to be able to reach out

to like-minded entrepreneurs and business partners, in an inclusive rather than

exclusive community, and be able to reach out to a huge distribution network rather

than having to fight for market share through traditional, linear methods.

We solve this problem by connecting the entrepreneurs to a huge regionally

connected (through Telecommunications networks and customer bases) community

marketplace.

When the right combination is struck between blockchain technologies, mobile

technology releases, secure payment solutions, a robust built-in cyber-security and

compliance process, an inclusive community gateway where all in the community will

be able to establish their online presence and interact together (community gateway

+ eWallet + crypto and fiat exchanges), then a new service can be released to the

public which will make a big impact.

The problem that most token offerings suffer from is a level of uncertainty when trying

to succeed in bridging the gap between ideation and successful delivery of value to

the token purchaser. There are a host of eWallet, eBanking, crypto-exchange and

ePayment gateway solutions and ICOs in the market and about to be launched into

the market. There are also some who are trying to build communities and loyalty

programmes.

The AEXON Project is different because we own the underlying business building

blocks of the Community that our platform operates upon, and we have an entire

ecosystem that supports itself and is self-reliant.

All the other solutions in the market are competing against each other and have no

unique propositions - one is as good as another to the average man on the street and

this leads to more choices and more friction and confusion to the average user. When

a new offering comes into the market and spends more on market and customer

acquisition, or someone comes along and disrupts some part of the community, each

8


of those standalone solutions and offerings will become uncompetitive and eventually

become unviable, unprofitable options.

What distinguishes our AEXON Project is that we are incorporating two significant

deals with long term revenue-generation into our offering: the opening and operation

of (1) numerous Co-Working Office spaces in Asia, with (2) unique back-office

service offerings, whose customers will use the AXN Token to not only gain discounts

to their desk space and other co-working space offerings, but also to utilise the

business systems services that we can provide as an integral part of our service suite.

3.2 Table of Community Served

Unbanked Entrepreneur Digital Nomad Investor

Problem Ignored by Banks Needs flexible, low-cost

working space and

services

Many Currencies, many

wallets, Need to Market

Services to Community

Tokens without

proven ROI

Other Problems Expensive

Remittances, No

Financial and

Global

Community

Inclusion

Can’t afford heavy

segregated costs

Limited convenience and

one stop solution to

“work, live, play”

No long-term

vision, prospects

and business

viability from

most ICOs in

market

Solutions Digital Payments

– P2P or

eCommerce

Co-working space and

business systems savings

Loyalty Programme, and

SmartCard for premium

members

Secondary

Market created

for ROI

Requirements Cash conversion

to digital

Dedicated HR, Accounts,

payroll, legal team

Painless transactions,

painless business to

community engagement

and integration

Minimum

amount of

tokens required

“Node”

capabilities to

have business

ownership in

Community

Seeking Financial Services Peer Database Fast Exchange Can open

Franchise

Benefits New financial

capabilities and

reduced costs of

transaction and

credit

Reduced costs, member

of Digital Community

Lifestyle, Work – Life,

Business community

enabler

Access to new,

high growth

asset class,

generation of

business profits

9


4. Creating Value and Proving Concepts

4.1 Building Blocks

Our roadmap features a long-term plan to deliver two significant region-wide projects

in the technology and real estate domains. From these projects we establish a

customer base and we will be able to open up new technology services and products

and serve our customers with a range of secure, compliant financial services which

improve their everyday spending habits. The following sections look at each of these

offerings and how they fit together.

4.2 Long Term Vision

The mid-to-long-term goal for our Project is the building of a regional community in

Asia. The way to do this is to launch multiple co-working spaces at key gateway cities,

starting from Singapore, and the Philippines to anchor technology and professional

service offerings at these distributed locations so as to enable our business outreach

into the various countries and locations around the region.

The second step of the plan is to have outreach to the underbanked and unbanked

communities by way of the Telecommunications companies that already have the

data and KYC information of their mobile phone clients, to include these populations

into our inclusive AEXON community.

4.3 Co-Working Office Space

We are opening numerous new co-working office spaces in the Asian region in

gateway cities, which is slated to cater to a new wave of communities integrating

the co-working concept into their business operations. We aim to be the reputable

co-working office space service provider for start-ups and SMEs in Asia.

10


The AEXON operated co-working spaces will be differentiated from other co-working

space offerings by (1) providing back-office IT services to streamline business

operations for tenants and users, (2) intuitive user experience through a community

gateway application that features simple booking of co-working desks/spaces,

payment for services to other community users (peerless digital P2P payments),

business listings (tokenholders who meets the required minimum token sum), and a

digital wallet developed by AEXON to remove complexity from the conversion process.

4.3.1 Market Size

The business of co-working spaces is experiencing a huge growth globally as the

demand outstrips supply by 3:1.

Research and news articles have shown a promising increasing trend of people

shifting to flexible working spaces instead of the traditional office setting. Survey from

Deskmag has shown that 71% co-worker members feel more creative, 62% of them

experience significant improvement in their work and 90% of them feel more

confident. This, coupled with the minimal barriers to entry of this market, makes co-

working an even more promising market.

The market for co-working spaces is growing rapidly. In 2011, there were only 1,000

co-working spaces with their presence dominant in Europe and the United States.

Three years later, in 2014, the number shot up to 6,000 co-working spaces. Forecasts

suggests that by 2018 there will be 37,000 co-working spaces across all continents.

The success of co-working spaces is mostly contributed by the increasing adoption

of a “shared economy” mindset among the people. Co-working spaces are not only

seen as a cheaper alternative to renting an office space, but it is also seen as a symbol

of connectivity and efficient with the community available in every co-working space.

The demand for such spaces is even increasing at a faster rate than the supply1. In

2014, the number is estimated to be 295,000 members of co-working spaces. For

1http://sbr.com.sg/commercial-property/exclusive/are-coworking-spaces-in-singapore-here-stay

http://sbr.com.sg/commercial-property/exclusive/are-coworking-spaces-in-singapore-here-stay

11


2018, the forecast expects to reach an astounding number of 2,370,000

professionals who buy membership at co-working centres.

https://venturebeat.com/2016/03/05/coworking-spaces-are-on-the-rise-heres-why/

The sentiments has not dampened with retracting economies and negative GDPs

around the world. The demand for co-working spaces buckle the trend as more

companies practices split operations, maintain agility, and reduce costs.

Even during extraordinary times where companies have activated their contingency

Business Continuity Plans (BCP), co-working spaces have experienced increased

demand from companies looking to conduct split operations. Employees are able to

work across a network of offices in separate rooms/desk clusters, and companies are

able to be agile and scale up or down efficiently, managing costs whilst ensuring

optimal productivity2.

2 https://www.straitstimes.com/business/more-demand-for-co-working-spaces-as-firms-split-operations

This working concept

is especially popular

among entrepreneurs,

freelancers, and small

business owners who

require flexible

working space and

hours, as well as

collaboration

opportunities with

people from different

businesses.

https://venturebeat.com/2016/03/05/coworking-spaces-are-on-the-rise-heres-why/

https://www.straitstimes.com/business/more-demand-for-co-working-spaces-as-firms-split-operations

12


4.3.2 Potential and Value Proposition

With investors shunning global market leader, WeWork, due to surmounting bad press,

business mismanagement, and running losses each month, this presents

opportunities for smaller, more nimble outfits to capture the segment.

Even with the threat of a recession spurred on by the existing COVID-19 pandemic

outbreak, the co-working industry should emerge from the COVID-19 crisis not only

stronger by also more important and necessary. Community is still seen as the key to

recovery as shown in a published “2020 Impact Report” (January) by a co-working

space, Launch Pad, that detailed the creation of over 9,000 jobs, and raising over $230

million in equity capital3.

Such services would continue to be one of the key recovery assets when the economy

returns to normalcy and buckle the downward trend for most of other industries.

A similar ICO/ITO project PrimalBase builds upon the concept of co-working spaces

by integrating a community-based ecosystem where members are able to share, sell,

or rent out high-quality office spaces using Ethereum whilst memberships are

determined by the possession of Primalbase tokens (PBT) – ownership is

transferrable and tokens, rentable. Since its launch, Primalbase has since fully

delivered on their long-term trajectory plan with over 4 offices and a constant flow of

members utilising PBT and ETH tokens in their ecosystem transactions. The success

of the ICO/ITO has captured the attention of industry’s experts and proves that such a

concept is viable and profitable over the long-run.

3 https://www.forbes.com/sites/danestangler/2020/04/03/here-are-three-reasons-covid-19-makes-coworking-spaces-even-more-important/#66c9e4f833ac

https://www.forbes.com/sites/danestangler/2020/04/03/here-are-three-reasons-covid-19-makes-coworking-spaces-even-more-important/#66c9e4f833ac

https://www.forbes.com/sites/danestangler/2020/04/03/here-are-three-reasons-covid-19-makes-coworking-spaces-even-more-important/#66c9e4f833ac

13


4.4 Technology Products

4.4.1 ActivBM

ActivBM offers full-suite back-office business services that can simplify company

operatix`x`ons by allowing business owners (especially co-working office clients) to

focus on their products and services as well as their sales, while the ActivBM team

handles the business owners’ accounts, finances, payroll, legal services and much

more. Our mission is to help local businesses to reach a higher level of growth in a

shorter period of time, without the need for dedicated back office resources in the

early stages. This business offering has already achieved over S$1 Million in ARR

(annual recurring revenues) over the first year of operations, has assisted multiple

clients in achieving Singapore government grants for IT implementation, and is slated

to take off with exponential growth in the coming years with strategic partnerships,

marketing and sales business models and distribution channels.

4.4.2 Potential and Value Proposition

The market capitalisation of SAP and Oracle, the two leading enterprise resource

planning software providers in the world, total over US$306 Billion today (SAP looking

to double that figure in 2020). The market size for B2B software services provision is

immense, and the disruptive business methodology of the AEXON Project offering

seeks to carve out a niche within this immense space, and serve the underserved

segment of the small-medium enterprise requirements for backend business services

delivered through software.

14


A leading publication projects Asia-Pacific spending on technology to

be US$738 Billion, with technology outsourcing comprising US$49

Billion.

4.4.3 Business Directory

Within the AEXON Community Gateway, each member holding sufficient AXN Tokens

will be entitled to create their own personal and business profiles where they can

promote their own services and products. They will be able to form special interest

communities/groups, create and participate in forums, and post, access and search

within a directory of entrepreneurs where each entrepreneur can search for the skills

or connections that they need as well as buy products and services from each other,

rate and review each other, and earn AXN Points (AXP) from certain activities and

https://go.forrester.com/wp-content/uploads/Asia-Pacific-Tech-Market-Outlook-For-2017-To-2018.pdf

15


spend such AXP on desired products and services. This will create a community of

like-minded entrepreneurs and an inclusive marketplace, where there is a natural

market of people willing to assist each other to help each other’s business ideas grow.

Later stage developments will enable P2P lending, micro-loans, etc, since cashflow

and capital flows are an integral part of the business cycle.

4.5 eWallet Mobile Application with Card Load Function

The eWallet mobile app will be developed to integrate with the AEXON Programme

Cards, which will allow anyone who is ‘unbanked’ to digitise their cash. The app will

have the following features:

Load Wallet capabilities:

● Bank Card (credit/debit/stored value)

● Bank Account (direct transfer)

● Cryptocurrency Exchange – load from your currency wallet

● Cash (via ‘Cash Load Card’ Function)

Payments

● Peer to Peer (P2P) Payments

● Remittances

● API suite to connect to major Payment Gateways

● eCommerce - purchase of goods/services from Community merchants

● ePay bills from Merchant Network (e.g. Telco account bills)

Additional Functions

● Loyalty Programme Discounts from Merchant Network

● Digital currency exchange

● QR Codes enabling business advocacy and community identity

● Usage of AXP at AEXON Community merchant portals

16


4.6 AEXON Programme Card

The AEXON Programme Card product will bring the unbanked and underprivileged

into the world of mobile and digital payments and allow access to credit and capital

facilities that were previously inaccessible.

Consumer and retail banking is going through revolutionary change driven by

increasing regulation, technology and operational costs. The cost of providing

basic, let alone full, consumer banking services to the masses is prohibitive and

revenue for banks is declining. The market and requirement for low cost financial

services is growing rapidly. The market for the unbanked is worth billions of dollars

today, but is largely untapped due to the inherent costs in setting up accounts for

them and catering to their needs.

Prepaid has been targeted by a range of providers, but not all of them are treating it

as a serious revenue stream due to high transactional costs or an inability to achieve

large-scale market penetration. We solve these issues by having our Telco

distributed AEXON Programme Cards and by bringing these to the blockchain for

decentralised, low-cost authentication solutions. Globally significant players include

GreenDot, Netspend and MoneyBookers. However, these are all from the USA and

there are no regional giants in Asia as yet.

Banks pay considerable lip service to Financial Inclusion and the requirement to

service the unbanked. However, they are aware that internal costs and transfer

pricing regimes make this an uneconomic proposition. AEXON can implement and

manage pre-paid services on behalf of banks to serve corporate clients’ and/or

government organisations’ payroll requirements for the unbanked.

4.7 Payment Gateway

The AEXON Project will work with the Hazza Network that has a project putting

payment gateways on the blockchain which has already achieved extensive payments

17


industry adoption and support. A formal acquisition of Hazza Network by Gravitas

International (the parent affiliate company of AEXON Pte Ltd) has been completed in

2020. The AEXON project is thus able to tap on the Intellectual Property (IP) rights and

underlying technology in implementing the payment gateway systems.

Riding on the backbone of financial industry leaders, we will seek to grow our

merchant base and extend our loyalty programme beyond access to co-working

spaces, back-office business services, the ability to buy airtime or to pay bills

domestically or across borders, to a truly inclusive massive community marketplace.

Our forthcoming partnerships with leading ePayments solution

providers will allow us great flexibility of payments ease.

AEXON will onboard strategic partners with full suite ePayments solutions that

combine the most popular cryptocurrency services and products of the digital

ecosystem with one AEXON Community Gateway to allow the managing of

transactions, exchanging, integrating merchants’ payments, controlling of funds and

so many more. A cryptocurrency cum fiat exchange, a merchant platform, etc are

also part of our proposed platform.

We do not believe in reinventing the wheel like numerous other offerings in the market

and simply marketing or using technical jargon to convince people that they are doing

something novel or revolutionary. What we will do is to adopt best of breed, low-

transactional cost solutions to bring the greatest value to the Community, and

instead focus on building cross-platform integrations and inclusions, and co-opting

more merchants and strategic partners so that we are a Community Platform of

platforms and services. As far as possible, such partnerships will embrace

blockchain technologies and solutions in order to reduce transactional costs for our

community members and users.

18


4.8 The AEXON SmartCard

Working with partners that already have a market solution, the AEXON SmartCard is

at once a multi-currency, general purpose re-loadable stored value asset, as well as

a one-card store of all of the holder’s credit/debit cards, merchant cards, loyalty

programme cards, etc. Premier members of the AEXON Community owning these

SmartCards will be able to load AXN Tokens, multiple Visa/Mastercard Prepaid

Cards, loyalty programme cards, transact in major cryptocurrencies and eventually

all cryptocurrencies and then perform a range of P2P transaction types, including

remittances.

19


The AEXON SmartCard’s launch will bring an adaptable and sophisticated card

technology to the financially savvy and well-heeled digital age Community member.

We will provide limited edition SmartCards to the premier AEXON Token holders, and

also to those who wish to own this physical and high-tech status symbol. The

SmartCard is integral to the ease-of-use and speed of transactions within the

ecosystem and will be slated to be released in accordance to the projected timeline

of Q2 FY2021, subjected to supplier delays.

The AEXON SmartCard will provide a simpler, more convenient and more cost

effective way to make P2P payments from one card which boasts many more secure

features than a bank card, since it has computer chips and will have biometric

sensors, and rides on software that can be overridden and wiped out in the event of

theft or fraud by authenticated owner or helpdesk control remotely.

The AEXON SmartCard is an offering mirroring the AEXON eWallet, that combines all

electronic payment solutions into one convenient card. It is at once a Pre-paid Stored

Value Card, and also a Combination Credit/Debit card granting extensive payment

facilities and enabling Discount Programmes and a Business/Personal Community

Identification card offering for businesses and consumers leveraging on Third Space

co-working offices (and later more distributed nodes).

AEXON co-working spaces will initially be located in the high population density areas

and eventually down-streaming to the frontiers of the ASEAN bloc. AEXON will

provide identity to the unbanked and conduct required due diligence and KYC on its

users, leveraging biometric solutions and other technologies available in the world

today. Working with key strategic partners, existing KYC solutions (such as YOTI) can

greatly accelerate the entry of the underprivileged into the financial and international

community, by offering them hitherto unknown access to capital and credit. Formal

partnership announcements will be made in due course as this project develops.

20


AEXON will run its services on existing, compliant payment gateway services riding on

existing regulated market leaders and attach a secure card that can replace many

different transaction types such as:

● Remittances

● Paying utility bills

● Peer to Peer payments

The global remittance market is projected to reach US$600 Billion in 2020, and with

blockchain technology, the unbanked can be empowered to remit their monies at low

transactional cost.

21


5. Blockchain Development

5.1 General

Blockchain technology introduces key benefits to the Financial industry in terms of

administration and cost, which thus allows our services to reach the unbanked, to

whom financial services have up until now been inaccessible due to the prohibitive

traditional banking transactional costs.

Our system will verify our users in a secure manner. During the initial token offering,

interested parties will upload information to verify their identity in order to have their

tokens awarded.

On the secondary market, using the Application Binary Interface and Etherscan.io, we

will be able to identify the current wallet address of the AXN Token owner.

Token holders will be able to collect and start to use the loyalty points associated

with their AXN Token from the moment they have provided us with the necessary

KYC information, that will be saved off chain in our secure database.

This facilitates both financial sector information requirements, as well

as allows the creation and existence of a single user identification to

save immense administrative costs and time.

22


5.2 The Implementation of our AXN Token

The AXN Token will comply with the ERC20 standard, so it will be tradable on pre-

selected exchanges. In order for us to add functionality over time, and protect the

privacy of the private information of our members and token holders, the system

architecture is distributed on-and-off the Ethereum blockchain. An additional benefit

to the AXN Token holder is that this will limit the amount of storage and memory used,

making the contract more (gas) cost-efficient. For a formal description of the token

code, please check out our GitHub4 writeup.

The AXN Token holders are eligible to become members of our Community Gateway,

co-working space, ActivBM by registering to the Member’s area on our Community

Gateway platform. Tokens on wallets provided by exchanges like Bittrex, GDAX etc

can’t be tracked for balance. To ensure that AXN Token holders are tracked by our

systems correctly, we advise to keep the AXN Tokens in wallets that support ERC20

4https://github.com/gravitas-aexon/axntoken

https://github.com/gravitas-aexon/axntoken

https://github.com/gravitas-aexon/axntoken

23


tokens. A few trusted wallets in this category are Mist, Metamask, Parity,

MyEtherwallet or Etherdelta.

In order to maintain full control over the environment, we are providing

an AEXON proprietary wallet in parallel with the official project launch

in Q1 2021

The AEXON eWallet app allows you to become an AEXON Community member and

provides a single sign-on interface to login to all our members area such as:

- Community Gateway

- Co-Working Space(s)

- ActivBM Business Solutions

The AXN Token holder’s public address will be stored on the blockchain, and the KYC

and identity information will be stored on a secured database. Users can opt in to

make a public profile as well, and connect their information to the AEXON Community

Platform. When tokens are traded on the secondary market, the new owner will be able

to spend the AXN loyalty Points from the smart contracts from the moment they

register on the AEXON Community Platform.

Solidity, the high-level programming language used to realise the smart contract, is

translated to bytecode so that it can be stored on the Ethereum Virtual Machine. (The

Ethereum blockchain). We will use the A.B.I.’ (application binary interface) to track

transactions and called functions. The ABI is a list of the contract functions and

arguments in JSON format. The modules that add features, such as the community

platform, as well as the secured database attached to it, will use the information from

the A.B.I. to track the current AXN Token owner and add AXP to the correct owner of

the AXN Token on the scheduled date of distribution.

24


The AXP that are derived from the AXN Token will be able to be used for any number

of goods and services, such as buying a coffee from the co-working space cafe,

renting office spaces, hot-desks, yoga sessions, paying for Telco bills, paying for

ActivBM business services, etc. More products and services will be added to the list

of uses for the AEXON Points as more merchants are onboarded and more businesses

are acquired by the AEXON Project. Merchants and businesses accumulate AXP and

can exchange them for fiat or cryptocurrencies held by AEXON at the end of each

settlement period (by the fourteenth of each month), or can also use these AXP

themselves in the AEXON Community. The advantage of having this dual-token

system of AEXON Tokens (AXN) and AEXON Points (AXP) is so that the unit of

exchange within the AEXON system that is the AXP will not be volatile since it is

virtually pegged to a common standard fiat value (initially, 1 AXP = 1 USD), so that any

volatility in the openly traded AXN Tokens will not impact the AEXON business and

community ecosystem greatly.

Initially, AXN Token owners can register their identity privately on the AEXON

Community Platform, and opt in to register additional public information, such as their

business cards, specialisations, offered skills, products and services.

Entrepreneurs will be able to connect with each other and market their

skills to one-another.

The AEXON Community Platform is realised in PHP and AJAX. Secondly, we will build

modules in Node JS, Ajax, PHP and other languages and frameworks, so that AXN

Token holders can make discounted reservations for a desk and/or a meeting room

at our co-working spaces and use software from ActivBM, as well as marketing their

own skills, and browse the community and network to make use of the goods and

services that are offered by members of the network. Users that own more than

25


10,000,000 AXN Tokens will be able to apply to become a franchise holder for the co-

working spaces if they so wish, or licence this right out to interested business partners.

An updated list of such “Proof-of-Stake” business functionalities will be published on

the AEXON official announcements site(s). AXN Tokens pledged for the purpose of

triggering certain AEXON Community functions will be held in escrow and will not

generate AXP during the lock-in period.

Technical overview of the system architecture.

26


6. Cyber Security

6.1 Biometrics and KYC

The AEXON Community Gateway will provide identity to the unbanked and conduct

required due diligence and KYC on its users, leveraging biometric solutions and other

technologies available in the marketplace, which will greatly accelerate the entry of

the underprivileged unbanked population into the financial and international

community.

A combination of voice-, iris scan and facial feature authentication.

1. The user can use their smartphone for authentication, using its microphone and camera.

2. a. The User scans their face using the camera on their phone. b. The algorithm scans

the unique facial features and the distances between them. c. The data is verified on a

secured server.

3. a. User records password-sentence with the microphone from their phone. b. The

recording is sent to secured servers where algorithms validate if it matches the recorded

voice password of the user.

4. Additional meta-data about the users’ geo-location and behaviour is used to detect

suspicious conditions.

5. The user is validated using a combination of these methods.

6.2 Data Security and Cybersecurity

AEXON is partnering with specialist data and cyber security firms, to roll out onsite

and offsite, secure environments for the AEXON co-working space IT offerings,

ActivBM cloud services, HQ data storage and offsite secure backup solutions.

During the development of the system and the implementation of the system, we will

work with strategic partners to ensure the security of the system, data and

connections are not compromised in an age where the digital space has transformed

to an emerging battleground of black-hat hackers.

27


Infrastructure build-out for AEXON AEXON will have an infrastructure solution that ensures that the company gets a highly

scalable solution which provides the following:

• Data Integrity and Backup;

• Controlled authorised access to information;

• Secure encrypted internet protocols for companies in the open web;

• Can distribute and charge its customers for internet access and use this as an

up-sell or marketing tool;

• Can host a whole range of e-offerings to its customers from an in-house private

cloud;

• Can use virtual workstations for its in-house staff from an in-house private

cloud

• Can, if desired rent out virtual workstations to its customers from an in-house

private cloud.

There are 3 main areas to be built out as basic infrastructure (on a per office location

basis), and one central off-site back-up unit in a data-centre, or at corporate HQ, that

holds the back-ups for all office locations.

Once these 3 main areas have been addressed, all other solutions are to be built on top of this:

• In-house private cloud, Data backup and disaster recovery provisions

• Firewall provisions (HQ, Datacentre, and per office location)

• Internet connectivity plus distributed bandwidth (within every office location)

I) In-house private cloud, Data backup and disaster recovery

provisions

a. All company data, including the in-house private cloud shall be

stored on the internal storage unit and is to be backed up

automatically on-premises at 1 hour intervals.

28


This safeguards the company against the following potential

data-loss scenarios:

• Hardware failure

• Unintentional user error: data deletion

• Malicious intent of disgruntled staff data deletion

• Ransomware lock-up

b. All company data is to be automatically exported to an off-site

location at 1 hour intervals.

This safeguards the company against a total server loss due to

fire, earthquake, faulty sprinkler system, physical theft and/or any

other physical damage to the server. One can insure itself against

any form of equipment loss, but one cannot insure the data.

Having the data backed up at a second location assures rapid

recovery in this scenario.

c. Location of this backup unit can be at the Datacentre or company

HQ

II) Firewall provisions (HQ, Datacentre, and per office location)

a. Every location will have its own dedicated firewall

b. The firewall is extremely configurable and has a wide range of

security features that will be tailored to the company’s specific

requirements.

c. For example: Real time deep packet inspection, GeoIp control,

content filter control, ad-block control, antivirus control and many

more based on requirements.

III) Internet connectivity plus distributed bandwidth (within every office

location)

a. AEXON can distribute and charge for internet access and this is

a great value add for AEXON’s co-working space users.

29


For example: AEXON will have an incoming pipe of 1 Gbit/sec and

then distribute out at 10 Mbit or 20 Mbit per office and have an

instant connection for new occupants, saving them the hassle of

getting a 2 year contract with any of the main ISP’s, plus

termination charges if they want to move in or out during the

middle of a contract period.

b. If a customer desires, his bandwidth can be increased at an extra

charge.

c. Portal based WiFi access for guests

One the above is in place, a roll out can be executed for the following requirements:

• ActiveBM implementation

• eWallet implementation

I) These roll outs will be built on top of an in-house web-hosting

environment. Note that the in-house hosting environment is to run as a

KVM virtual Server in a private cloud scenario, on top of the above

infrastructure.

II) Virtual workstation implementation Virtual workstations for staff are to

be implemented and are to run as a KVM virtual machine in a private

cloud scenario, on top of the above infrastructure (the IT admin now has

one central point of administration and maintenance, images can be

rolled back as per described back-up policies, and a hardware failure of

a client accessing the Virtual workstation has zero effect on the data

integrity of the work station, moreover, once a new thin client

replacement arrives, one is back up and running in 10 minutes).

30


7. Services 7.1 Loyalty

The AEXON Loyalty Programme will support all our initiatives in these ways:

● Token purchasers receive discounts at the Asia’s co-working space outlets

(will negotiate to have access to all other locations as well, status to be

announced by ICO/ITO date)

● Token purchasers receive discounts on ActivBM services and any other

AEXON merchants and businesses - these uses will be announced on the

AEXON website(s).

● Those who own AXN Tokens will be given AEXON Loyalty Points (AXN Points

or AXP) monthly that can be used to spend on products and services within

the AEXON business community.

● On the designated date in each quarter, a certain number of AXP will be

generated in the AEXON eWallets of AXN Token holders. By the last day of the

quarter for settlement, all remaining AXP that are unconsumed will be

burned/destroyed, then on the next designated date, new AXP will be

generated again.

● If AXN Tokens are traded after the issuance date for the AXP, there will be no

further AXP generated for the new AXN Token holder. There will only be a one-

time quarterly issuance of AXP for each unique AXN Token.

31


The AEXON Community Gateway also allows businesses and merchants to create

their own online stores and websites, and allows more merchants to onboard their

services and products into the AXN Points/AXP loyalty programme. More usage

opportunities for the AXN Token generated and the AXP will be rolled out in periodic

intervals as more merchants enter the ecosystem. This thereby creates more demand

for AXN Tokens on the secondary markets as merchants will be required to have a

certain number of AXN Tokens, in order to be part of this growing Community

ecosystem. With Metcalfe’s law applying to this network effect, the value of the

AEXON Community and the AXN Token should keep growing.

7.2 AXN Points Use Cases

The AXN Points are a perpetual benefit given to the AXN Token holders on the

issuance date of each quarter, as AXN Points are generated each quarter (unspent

32


AXN Points will be destroyed on the last day of each quarter for settlement) for usage.

This is like a constant airdrop to add value to the Community from the AEXON Project

and to reward the AEXON Community and increase its inclusiveness and adoption of

this ecosystem. This in effect means that huge value is provided to the AXN Token

holders, as they not only enjoy the benefits of growing long-term value of the AEXON

Community, possible AXN Utility Tokens value increase from open market trading of

AXN Tokens by merchants that want to get into the economy as economic unit nodes,

but they also perpetually get regular spendable number of AXN Points that can be

used for real-world products and services as a reward for remaining in the ecosystem.

Soon after launch, the AEXON Project will also create a secondary market for the AXN

Points to be traded on the platform. If certain AXN Token holders are unable to

consume them before expiry, the secondary market for the trading of AXN Points will

drive up the value of the AXN Tokens even further since the AXN Points could

potentially be an additional tradable income source.

Why get into this AXN Token and AXN Points environment? Just as airlines give air

miles, online travel agents like booking.com or Expedia give points to their customers

that can be redeemed, etc, by creating a One-Community environment where AXN

Points that are generated can be utilised, this creates a more inclusive, tighter knit

Community that is more integrated, decentralised, and does not need central

authentication or governance to thrive.

We are truly democratising the Community engagement by allowing

Work, Life and Play to come together in One Platform.

7.3 AEXON Exchange and AXN Token Secondary Market

AEXON will start and run its own Exchange or enter into long-term joint venture

relationships with leading cryptocurrency exchanges, in order to ensure a permanent

Secondary Market for its own AXN Tokens, and also to increase liquidity for the AXN

Token. Some of these exchange partnerships have already been negotiated and will

33


be announced in due time. This is fully covered in a later section in this White Paper

about Tokenisation.

7.4 Nodes and Franchises

Once a serious investor has acquired a number of AXN Tokens, they have options on

what they can do not only to serve the Community but also to create their own line of

business within the AEXON Community Gateway ecosystem.

Within the AEXON Community Gateway, an AXN Token holder will be able to show

himself to be a ‘walking node’ (imagine GPS triangulation from an Uber screen)

depending on the search parameters from users - e.g. a co-working space tenant

wants to find an experienced architect. He then opens up the AEXON Community

Gateway Merchant Portal, types “architect” and the GPS will lead him to the right

location, right desk and voila, they can connect and do business. In addition, even from

the comfort of one’s home or desk. The AEXON is looking to partner with Virtual

Reality/Augmented Reality (VR/AR) practitioners and companies to enhance

functionality of each member of the AEXON Community. The integration will allow

members and businesses to be searchable as a VR/AR avatar that can interact with

others who are seeking out their services or with the intention to build their network.

The customer can only see service providers who own certain levels of AXN Tokens,

thus our AEXON Nodes have a similar function to Proof-of-Stake Nodes - meaning the

accumulation of a certain number of AXN Tokens will allow holders of AXN Tokens to

be points of contact as business evangelists (sales agents/brokers for merchants on

the platform), exchanges (e.g. Geolocate like Uber to find nearest money-

changer/eWallet Walking Node if you need cash that the AXN Token holder might have

on him/her), and larger accumulations of AXN Tokens to be allowed to be franchisees

or to buy into the AXN Community businesses, with each merchant setting their own

entry level requirements. Token holders who wish to engage in such “Node” functions

will have to deposit their stipulated levels of AXN Tokens into AEXON escrow

34


accounts, which are defined by smart contracts and obviate the need for complex

legal agreements to be in place before engagement.

For example, let’s say an AEXON Community member purchases 10,000 AXN Tokens

during our pre-sale at US$1,000 equivalent and gets a 25% bonus (please note that the

bonus given will depend on when the purchase of AXN Tokens takes place, and this

figure is only provided for illustration purposes). That means that this member will

have 12,500 AXN Tokens distributed to his AEXON eWallet. To be an AEXON

Community member (to activate all the membership functions in the AEXON

Community) will require 3000 AXN Tokens, held in escrow, and the remainder 9500

AXN Tokens in the AEXON eWallet will generate about 15 AXP per quarter (the AXP

generated will vary depending on the total ICO/ITO funds raised and will be published

after the ICO/ITO closes, and only put up here for illustration purposes).

With the activated AEXON Community loyalty programme, this said member can now

enjoy a 25% discount (these numbers will vary from location to location and business

to business and are only put up in this example for illustration purposes) off of the co-

working space services, ActivBM business services, etc. So let’s say he goes to the

the co-working space membership counter, shows his AXN Tokens in escrow and

activated AEXON Community membership, gets to book a hot-desk at US$75/month

(these numbers will vary from location to location and are only put up for illustration

purposes) instead of the listed public rate of US$100, and he can use his 15 AXP to

offset the monthly cost even further. That means that this AEXON Community

member will only need to pay US$70/month for the usual US$100/month service!

While part of the AEXON Community, he can access the AEXON Community Gateway

and put up his profile for products/services offered, so that other members of the

community can buy his products/services or search for him as a service provider.

In addition, let’s say that 3 months after the AEXON ICO/ITO closes, the AXN Token

rises to US$0.30/AXN Token in value. The said member can then sell his 9500 extra

AXN Tokens at US$2,850, whilst still retaining his 3000 AXN Tokens held in escrow for

his membership services. In effect, this AEXON Community member only paid

35


US$1,000 to obtain about 3 years worth of co-working space hot-desk usage

(assumptions are that the member bought in at a bonus offering stage and that the

open market price of AXN Tokens went up in this example)!

There are many further examples of how AEXON Community members

can utilise their AXP for purchases and as node functionality, and

these will be described in more detail on the AEXON website.

7.5 Including and Serving the Unbanked

With the AEXON Community Gateway allowing access to the previous financially

disadvantaged, the unbanked will now be given an opportunity to become part of the

inclusive AEXON Community as depicted in the following infographic.

36


8. Utility Token Roadmap ● Initial Token Offering/Sales – Q4, 2020

● Potential for Increase in value

o Periodic buy-back of AXN Tokens from open market using business

profits

o Onboarding of more merchants, more usage for AXN Points

● AEXON’s Token Buyback Plans

o at regular intervals, 20% of the net profits from the business operations

of AEXON will be used to buy back AXN Tokens from the open market at

the existing price points to reduce market supply and increase price

levels

o below certain threshold levels, AEXON Project Treasury department will

buy from open market to reduce market supply

● Accumulations of AXN Tokens allow Token holders to act like nodes, for example,

to set up their own business community portal, to be an AEXON business

franchisee, to own a co-working space franchise, to own an ActivBM business

services franchise, to exchange money for AXP rewards, etc. These have been

briefly described in preceding descriptions and will be further detailed in the

AEXON website.

37


9. Partnerships and Corporate Structure 9.1 Partners

9.1.1 Cryptocurrency Exchange, ePayments, eWallet, P2P Payments

AEXON is currently engaged in negotiations with several strategic partners for the

provision of these already proven, market-ready solutions and expect to announce the

formalisation of such engagements before the AXN Token Pre-Sale commences.

Some of these are leading exchanges such as Huobi, Coinbene, COSS, and Octo3 for

payment solutions.

A strong international cybersecurity and data centre specialist company will provide

secured online and offline network solutions for the entire AEXON Project, and its

state-of-the-art USA patented Exchange risk management solution is imminently

being approved for a substantial development grant by the Singapore government to

provide the financial institutions with an additional layer of risk management.

Finalisation of this formal engagement is expected to be announced before the start

of the Pre-Sale.

9.1.2 Co-Working Spaces

This offering initially relies on the launch of co-working spaces entering into and

expanding in the ASEAN market (and strategic nearby markets), by setting up and

operating multiple units in gateway cities such as the Philippines, and later to potential

countries such as Singapore, Seoul, Tokyo, Hong Kong, Yangon, Manila, Phnom Penh,

Bangkok and Kuala Lumpur over the next couples of years depending on market

conditions and demand.

This will attract paying companies who will use the AXN Token both to

utilise premium co-working office spaces and also to subscribe for

back-office business services at affordable rates.

38


9.1.3 ActivBM

ActivBM is the perfect complement to a co-working space environment (which

correspondingly serves as the ActivBM launching pad worldwide), as it is the

business engine “software” to the “hardware” of co-working spaces as the real estate

anchor, and with ActivBM as a value-add and accelerator to all businesses, especially

to growing start-ups, ASEAN businesses can be incubated and accelerated to provide

strong growth.

9.1.4 Asia Law Exchange - ALX

ALX proposes to build a regional platform of Legal-Tech services, serving a middle

layer of KYC, compliance, cyber-security offerings, Personal Data Protection offerings

and compliance, on top of a strong foundation of IT software offerings to businesses,

which nicely fits with the ActivBM ecosystem of technology and services offerings.

9.2 AEXON Corporate Structure

● Gravitas Holdings (Pte) Limited was set up in Singapore and is the marketer,

distributor, and auditor of this AEXON offering, amongst other future ICO/ITO

offerings.

● The AEXON Project is set up as a special purpose vehicle (“SPV”) registered in

Singapore, and has the necessary corporate agreements with Bluesky Group Pte

Ltd (owns the ActivBM brand), and arrangements with strategic partners such as

ALX, Huobi, Coinstreet, Octo3, YOTI, etc, for the other core components of this

Project.

● AEXON will be audited by Gravitas Holdings (Pte) Limited in a manner similar to

private equity deals which are usually only reserved for the top 1% of the

investment population, with full accountability to token purchasers by way of

39


yearly administrator reports showing the utility token values, auditors and lawyers

conducting yearly audits and reviews of the AEXON activities, etc.

● Seed funding and founding investors are limited to Accredited Investors and/or

Institutional Investors, or under the Securities and Futures Act exemptions under

the definition of the Singaporean legal system as equity in Gravitas Holdings (Pte)

Limited and the AEXON Project SPV are regulated by Singaporean law.

9.3 Geo-Location Benefits

● Singapore was chosen to be the HQ of the AEXON Project due to its location as

one of the premier blockchain and token offering centres in the world.

● Singapore is a global financial hub, and is uniquely positioned between the East

and the West, and is increasingly attractive to ASEAN as well as global

businesses.

● The Singapore government is embracing the nascent Fintech industry and has

promulgated numerous initiatives to assist FinTech companies. The Monetary

Authority of Singapore, which is the regulatory authority of Singapore, is greatly

encouraging Fintech innovation and is open to compliant ICO/ITO projects that

can provide value to the economy and community.

● Singapore’s own digital tokenisation efforts are already at an advanced stage,

with its “Project Ubin” past Phase Two of implementation and the Singaporean

regulatory environment of permitting utility token offerings is a great positive to

be had.

40


10. Tokenisation Plan and Roadmap 10.1 Token Utility

1. The AXN Token will allow discounted rates on the list prices of co-working space

facilities as well as ActivBM service offerings, and any new merchants onboarding

to the AEXON Community.

2. Within 3 months of the close of the ICO/ITO, the x`at over 42 million points around

the world will be rolled out. Testing of this solution is already taking place with the

card issuers. It will have the same functionality as both a debit card as well as a

prepaid stored value card.

3. AEXON will have its own Exchange or have a strategic partnership with an

experienced and reputable Exchange operator(s), in order to ensure a permanent

Secondary Market for its own Tokens, and also to increase liquidity for the AXN

Token.

4. Within 12 months from the ITO, the AEXON SmartCard, with QR code for ActivBM

business community and co-working space functionality, Biometrics for activation

and account signup (and to assist with the performance of know-your-client

(“KYC”) procedures), Loyalty and Merchant Programme, Direct Marketing for

distribution to business partners and social contacts to be issued, and the beta

testing for the regional stored value telecommunications account linked card

(physical and virtual) to commence (subject to factory production fulfilment

orders).

5. Also slated for 12 months from ITO, AXN Tokens will have full functionality as

Nodes - meaning the accumulation of a certain number of AXN Tokens will allow

these holders to be points of contact as Nodes (e.g. Geolocate like Grab to find

nearest money-changer/eWallet Walking Node (banker/service provider), and

41


larger accumulations of AXN Tokens to be allowed to be franchisees of the co-

working space/ActivBM businesses, etc.

6. It is also on the AEXON roadmap to acquire banks or apply for banking licences in

the region in order to have full remittance and money-changer licences in place, so

as to roll out an AEXON Token Digital Currency if permitted, and be useful as a

regional, cheap way of transacting across countries and currencies. However

triggering this phase of development will depend on how much funding is raised

from the AXN Token sale.

10.2 Secondary Market

1. The first secondary market utility of the AXN Token will be for co-working space

and office services business owners/entrepreneurs to acquire/lease such AXN

Tokens from the Secondary Markets in order to enjoy membership/token

ownership privileges (i.e. access and discounts for such services).

2. The next secondary market utility of the AXN Token is for the ability to be a sales-

force/business member of the AEXON Community, as a Walking Node, to

evangelise the functionality of the AXN Token and Community. The more

connections, merchants and people in the Community, the more universality of

financial transactions and exchange of products and services are enabled.

3. Additional AXN Points rewards will be provided to those who serve as Nodes to

exchange money for members of the Community, Business facilitators and sales

people/teams, through direct marketing rewards. This is akin to loyalty

programmes and rewards points, since the AXN Tokens can be exchanged for

valuable consideration and/or fiat currency.

4. Another Secondary market utility is the ability for certain concentrations of AXN

Tokens to achieve franchisee functionality (e.g. to acquire rights to open a new co-

42


working space location, equivalent value of US$1 million would be needed in order

to have rights to purchase a Franchise from the AEXON Project, etc).

10.3 Token Design and Build

The AXN Token will be designed and built in Solidity and the modules to redeem the

AXN Points to pay for some Community services such as ActivBM business suite

services, and co-working space rentals are released in Node JS.

There will be a limited amount of AXN Tokens in circulation. The AEXON technical

team is currently assessing the Ethereum platform for suitability in hosting the AEXON

Project eWallet.

10.4 Token Specifics

This table summarises the specific credentials and timings of the AXN Token.

Subject Description

Project

AEXON will distribute loyalty AXN Points to their holders, and

AXN Token holders will be able to use to make reservations

at co-working spaces, use ActivBM and other onboarded

merchants, etc, at a discounted rate. This will be powered by

an eWallet powered by existing service providers with such

services, and a trusted financial institution (e.g. renowned

issuers).

Utility Token

The AXN Token will be like a loyalty voucher, that users

ranging from the unbanked to the entrepreneur will be able to

use for the above listed functionality.

43


Ticker Symbol AXN

Token Technical

Background is built as an ERC-20 token on the Ethereum blockchain

Token Private Sale

Start Date 01 June 2020

Token Private Sale

End Date

31 July 2020 (Total Duration: 2 Months)

Duration of the private sale will be adjusted based on the

existing allocation/balance of AXN for the private sale

Token Public Sale

Start Date

Q4 2020 (Tentative December 2020)

Official dates to be announced upon the conclusion and

performance of the Private Sale phase

Token Public Sale

End Date

Duration of 1 week from the finalised start date

Duration of the private sale will be adjusted based on the

existing allocation/balance of AXN for the private sale

Token Price 1 AXN Token = US$ 0.10

Total Percentage of

all AXN Tokens

released for sale

80%

Percentage of all

AXN Tokens for

AEXON Projects

Funding (including

Pre-Sales)

60%

Percentage of all

AXN Tokens for

Early Investors and

20%

44


Founders,

Marketing,

Operations of

Tokenisation and

Community

Gateway, etc

Percentage of all

AXN tokens for

AEXON Treasury

Reserve and Other

Interests

20%

Target Amount Sold

(Fixed limit)

(USD 50,000,000 equivalent raised - with roughly 1 new co-

working space opened for each USD 3,000,000 raised)

Project Status

Live product/services: ActivBM, co-working space outlets

outside Asia

Pipeline:

● Co-Working Spaces

● eWallet mobile app

● See Roadmap for details.

Token Holder

Reward AXN Points (loyalty points) or AXP

Card user incentive

To be announced on the individual business unit sites, and a

consolidated table to be released on the AEXON website

after ICO/ITO

Early bird bonus for

Pre-sale and Public

Token Sale

50% bonus during white list before presale and 25% bonus

during presale. During the ITO, bonus will be 15% then 10%

then 5% till the end of the ITO.

45


Accepted

currencies for the

ITO

Bitcoin (BTC) & Ethereum (ETH) + USD for the presale;

Only ETH for the ICO/ITO

Minimum Amount

Raised (otherwise

all Token

purchases

refunded to

investors)

USD 5 Million.

46


11. Financials

This section covers what we will do with the funds we raise from the Initial Token Sale

and from the private equity market; what our basic costs are per project stream; and

what revenue streams we anticipate from each core project stream.

11.1 Allocation of Project Funds

Each USD 3,000,000 worth of funds raised will equate to a new co-working space to

be opened. Each such co-working space outlet will have ActivBM technology offerings

as well.

11.2 Description To build out, market and operate the AEXON Community Gateway and co-working

spaces requires an estimated USD 3 million per site over a course of 3 years, and each

ActivBM office instance will require about USD 500K for implementation. 60% of the

AXN Tokens created for this Initial Token Sale will be utilised for the Project Funds,

whilst 20% will be utilised for marketing, operations, technology development, and

some compensation for the early investors and promoters of the AEXON Project.

Thresholds for the AEXON Project are as follows:

● At USD 5 million raised and allocated to the AEXON Project Funding as set out

above at Section 7.1, 1 co-working space, 1 ActivBM office, a series of initial

AEXON cards, an Exchange partnership, and the AEXON Community Gateway

will be rolled out;

● Each additional multiple of US$5 million raised, will go towards an additional

co-working space and ActivBM office,

47


12. Security and Legal

The founder of the AEXON Project and Gravitas Holdings, the Project promoter, is a

practising advocate & solicitor in Singapore from a firm with 9 lawyers, is one of the

first and leading practitioners in the ICO/ITO space, and has just published a book on

ICOs/ITOs in Singapore. The presence of another core team member who is handling

government relations, is also very well connected with the legal environment and has

had multiple positive engagements with the Singaporean regulators for Personal Data

Protection and KYC discussions for some of the offerings under this Project.

Therefore, from a legal and compliance viewpoint, this AEXON Project is well in hand.

Security is well taken care of, by way of data centre, virtualisation, security, and risk

management specialists being on board for the set-up and administration of the

various co-working sites, as well as the overall IT system infrastructure of this Project.

Key members of this security team is also engaged in multiple rounds of discussion

with MAS and Spring Singapore for the rollout and implementation of a USA patented

Exchange risk management offering.

48


13. Team

Project and Operations

a. Malcolm Tan, CEO, Legal Advisor. Malcolm is a lawyer/entrepreneur, with

multiple businesses and exposure and experience in multiple industries,

including corporate advisory, telecommunications infrastructure, technology

and finance (VC, PE) which are particularly on point for FinTech and the crowd-

funding space. Malcolm contributes in-house legal knowledge and expertise as

well as wide-ranging contacts enabling partnerships to be formed readily to

accelerate AEXON growth and fulfilment of its vision. Malcolm also has direct

interests and/or companies in legal services, corporate services, corporate

advisory, finance and wealth management, digital marketing, etc which directly

contribute to the success factors required for new companies and businesses.

He has also just published a book on “How to ICO/ITO – Legal and Regulatory

Framework in Singapore” and has advised or is currently advising a few

companies intending to ICO/ITO in Singapore.

We are in the midst of adding our team members on the project and operations

front. This will updated in due course.

Advisors

We are in the midst of adding our advisors on the project and operations front.

This will updated in due course.

49


14. Conclusion 14.1 Project Summary

The AEXON Project is a rare project that has already achieved quantifiable, real

revenues in the business world as well as having real off-take agreements that

provide demonstrable profits through traditional business operations and comes

with solidly backed revenue streams that can be seen and calculated, as opposed

to most ICO/ITO offerings which are backed merely by white papers and theoretical

concepts.

All of the AEXON roadmap offerings are proven technologies that exist in today’s

society, but the AEXON Project is uniquely capable of bringing all of these concepts,

technologies and business uses together in one offering that will be continuously

upgraded, and can bring together everyone into an inclusive, efficient, more

empowered Community.

This is a tremendous opportunity to get into some of the fastest growing segments

in the world with just one participation in an Initial Token Sale, i.e. co-working

spaces (leading growth segment of the real-estate industry), as well as IT B2B

services, and financial inclusion for the unbanked which number several hundred

million worldwide.

The utility tokens generated and sold through this offering will also have their own

natural secondary market, as concentrations of the AXN Tokens are required for

entry into the AEXON Community as merchants, and also offer utility of services

and offerings such as access to hot-desks at the co-working spaces, offices, and

value added backend office services, as well as telecommunications

subscriptions and access to the value of new co-working space centres and

locations. On top of that, AXN Token holders will be able to tap into a community

platform that will help them accelerate their business.

50


In order to enter into the market expediently and provide immediate value for its

token offerings, the AEXON Project will initially leverage transactions processing

from leading global Third-Party Processors, and regional prepaid programme

leaders and technology providers.

Riding on the backbone of regulated financial industry leaders, AEXON physical

and/or virtual tokens/cards will allow the purchasing of airtime and the payment

of bills domestically or across borders, as well as the transmission of salaries

across borders.

There will also be great benefits to employers and regulators by the reduction

of cash in the economies, and the enabling of large underserved segments of

the population with little to no access to financial products and services.

Offerings such as prepaid programme cards are developed in the USA and

Europe but still not widely accessible and known in the ASEAN context, and will

greatly accelerate ASEAN economies with the subsequent ease of transactions

with a vast uptick in financial access. Community inclusion will also allow the

previously underprivileged to gain market access and improve their lives faster

than the normal growth trajectories in such situations.

For the financial industry, blockchain technology introduces key benefits in

terms of administration and cost which also allow our services to reach the

underprivileged, to whom financial services have up until now been prohibited.

Our solution will be compliant and should be welcomed by the banks.

51


14.2 Critical Success and Risk Factors

● ActivBM

ActivBM will leverage the physical platform that the co-working space offers,

to spread its presence globally. All the functionality on the ActivBM platform

provides the support that each member company needs and the support team

must be able to respond sufficiently to cater for all demands in each

operational function.

Risk factors for this business are poor service delivery by the ActivBM service

providers, and an inability to cater to the growing demand. Such risks are

alleviated by having a standby panel of service providers, and ensuring that

Service Level Agreement KPI’s are properly set, monitored and measured, and

adhered to.

● AEXON SmartCard, Programme Card and AEXON Community Gateway

Success of the AEXON SmartCard, Programme Card and AEXON Community

Gateway depends on adoption, which will rely on solid marketing, changing

consumer behaviour, and the ability to not only solve a customer’s need but

also to convince them of the value of the card – not just in terms of saving

money on transactions but in terms of convenience. WeChat Pay used brilliant

marketing by giving free red packets during the Lunar New Year period, and

once people used their ePayment solution, they captured huge market share

and adoption. A second brilliant marketing strategy that WeChat Pay utilised

was to get hundreds of thousands of merchants to support their 8th August

marketing drive (like Black Friday in the West), and this managed to draw even

more of the online crowd to their platform.

52


Partnerships that are attached to the payment types (such as partnering with

Telco’s to enable billing or OTT payments) will help to make this card

indispensable.

The success of the KYC foundation process we are creating will provide a

reliable, compliant reputation for our card which will quickly become known

amongst the communities who have struggled with being officially recognised

and allowed to use financial services in the past.

The ability for salary payments to be made directly onto the card is important

because in this way we can digitalise the spending of the previously unbanked

populations.

● Generic Business and Operational Risks

Since the funds raised from the AEXON Initial Token Sale will be utilised in the

ordinary course of business in the stipulated projects, there are business and

operational risks that will arise, and the AEXON team is mindful of such and

will take their best measures to mitigate the business and operational risks

within the scope of this White Paper.

● Regulatory Risks

It is the view of the AEXON Project team as well as counsel involved with the

Project that the AXN Token and AXN points generated for AXN Token holders

do not constitute securities under the meaning of the Singapore Securities and

Futures Act, and also in relation to the United States’ SEC position. However,

to avoid the regulatory issues with respect to the United States position, the

AEXON Project will not be offered to citizens and/or residents of the United

States of America. With regards the Singaporean population, since the initial

benefit of the AXN Token and AXN points relates directly to Singapore, the

AEXON team will make representations and start engaging with the

Singaporean regulators forthwith in order to reduce this risk factor. AXN Token

53


sales will not be offered to citizens and/or residents of the People’s Republic

of China and to other jurisdictions where ICO participation is currently illegal.

● Technical and Security Risks

Due care will be taken in terms of the technical development portions of this

Project by engaging and second-sourcing multiple skilled developers and

consultants and service providers, and also consulting with the technical

advisors on the team as well as outsourced consultants.

Security will be very seriously considered and offline and online security is a

critical factor that the AEXON team is cognizant of and will take measures to

mitigate, including the adoption of bounty campaigns and engaging external

security experts to consult on these issues.

● Financial Risks

In order to defend against any sudden regulatory shifts, the AEXON team will

arrange for multiple financial channels of receipt of funds and consolidation

of funds in the approved jurisdictions that allow or at the very least, do not ban

cryptocurrencies. Qualified chartered accountants and corporate finance

specialists are in the team or will be onboarded, and external expertise sought

and retained in this regard.

14.3 Next steps

● Fund the licensing and implementation of our technology platforms including

the processing services from leading third-party providers;

54


● License, integrate and implement leading third-party web/mobile customer

interface technology.

● Expand staff levels to implementation and then operational levels.

● Design and launch social media campaigns targeting domestic helpers to

ensure a ready pool of pre-qualified prepaid programme account holders prior to

full launch, for beta testing of remittance functionality.

● Initiate an aggressive “land grab” to fully leverage our early mover advantage

in both Singapore and surrounding ASEAN and neighbouring countries through

strategic partnerships and organic growth.

● Strengthen capital base for development and improvement of Community

Gateway, AEXON Programme Card and SmartCard and AXN Token and Merchant

and Loyalty Programme and card partner(s).

● Ensure expansion into other jurisdictions with a strong demand for co-

working spaces in Asia-Pacific countries.

content page - aexon...tokens to fund the aexon cryptocurrency project, businesses and operations,...

Documents