I remember the story. The version I heard involve Mercury, the Greek god messenger, giving all three axes to the honest woodcutter. And the woodcutter was more concern about the townspeople getting cold from zero heat in winter than about himself; sweety. And also the naughty one being scold by Mercury for lying.
It’s the old tale of a poor woodsman who loses his axe in a lake.
The fairy who lives in it offers two identical axes of precious gold and silver, but he asks for his old one back.
He’s given all three for his honesty.