When you are editing parameter, you can create 1D or 2D parameter. Axes are on edges of parameters.

Axe is edge of parameter.
There you can set element trasform, deform and opacity.
Software calculates animation between Axes by Interpolation.

Axes Points are points that you can place between Axes.
You can add as many as you want, and also you can set element on Axe Point.
Software calulates animation for Axes Points too.