Axis Robotics denies that the team and investors are selling off AXIS, stating that recent sales may involve OTC counterparties.

According to an official announcement from Axis Robotics, AXIS experienced a large-scale on-chain sell-off between October 28 and 29. The project stated that the sold tokens originated from ecosystem allocations within the initial circulating supply, rather than from team or investor holdings. The project noted that 835 million AXIS tokens (accounting for 83.5% of the total supply) remain locked in a vesting contract jointly managed with Binance, with no tokens transferred out as of yet, and none are set to unlock over the next 12 months. Suspecting that the over-the-counter (OTC) counterparty responsible for distributing tokens to ecosystem participants breached the lock-up agreement, the project has suspended further cooperation with them and will seek legal remedies. All remaining ecosystem tokens moving forward will be distributed exclusively via an on-chain vesting mechanism.