Combination of
Dax and the name suffix
-ton.
-ton could be interpreted to mean "town, settlement" in Old English, but in Daxton's case may have been affixed to
Dax just because it sounds good.
Dax, incidentally, is the name of a prominent main character in
Star Trek: Deep Space Nine. I wouldn't use
Dax or Daxton because of that. You'll be constantly asked if you're Trekkies, which is great if you are, but very annoying if you aren't.
Miranda (who's a Trekkie herself)