The Axie Infinity Shards is the native token created by the same developers of the game to have its own currency within the videogame. This token was launched in October 2020 and since then it was a before and after for the game. If you want to know howow to earn AXS within Axie Infinity, stay with us.
We will tell you everything you need to know about this token, that it is, what we can do with it, how much it currently costs, how to buy, sell, and how to earn AXS. All the information in detail throughout this article, let's get started.
What is AXS?
Known as AXS or Axie Infinity Shardsis a token compatible with the Ethereum network, made under the ERC-20 network. It is the native token as we were previously mentioned in the introduction, its main function when introduced to the world of Axie Infinity was to be able to give votes to people who had it.
People who have AXS in their Axie Infinity account will be able to have a say in what happens in the future of the game. Whether in surveys or different mechanics launched by the game developers, having this token will allow you to decide what will be the future of the game. gives some power to make decisions jwith the development team.
Among its multiple uses, we find the ".Staking"which would be to store and accumulate AXS tokens inside your inventory for a annual token return. This way you can "float" it as well, like any other cryptocurrency and use it as an asset.
With AXS we can perform payments in the same game between playersThis would already be an unofficial deal, through the Ronin Wallet. Since the main currency to buy Axies today is ETH and transactions are made in that currency. But, AXS works as a currency within the Axie Infinity ecosystem.
One of the most frequent uses for AXS is as a payment currency for the Axies breeding process. We currently need a total of 4 AXS for each breeding process, Sky Mavies is planning to reduce the amount in upcoming updates. But getting AXS is essential if you want to breed Axies, as is the SLP required for each pair of Axies.
What is governance?
Governance was the main promise and the one that caught the attention of all users at the beginning of its circulation. This basically comes after the stackeo of the same, the users that keep their AXS will have a annual return on everything generated in Axie Infinity. In addition, they are given a kind of special or privileged vote that they will have to take the lead together with the developers to make the best decisions for the game.
A brief example of this mechanic is if in a hypothetical case, the creators of Axie Infinity decide to launch a new token. It would appear in a poll or dynamic, where you have to exercise your right to vote and choose whether or not it is a good idea for it to be in the game. This clearly if you have staked AXS on your account for some time.
This type of dynamics has rarely been carried out in other videogames. This is Sky Mavies' great bet for prove that the gaming community can go hand in hand with the development team. and be a good mix. It is hoped that this will improve the closeness of players with their creators and allow for a closer-knit community within the game.
At the beginning of the project, a good amount of AXS would be given out through a lottery, so that the token would later be purchased on Binance. During its first few days of life, Axie Infinity awarded the public a total of 59,985,000 AXS in total to distribute. A very curious fact is that their initial value was only 0.10$, a practically free cost compared to what it costs today (about 60$ if you manage to buy it cheap).
The maximum AXS that can be generated in total is 270.000.000This figure has not yet been fully released and only a percentage of the total AXS to be distributed is circulating.
Stacking AXS within Axie Infinity's treasury can lead the user to have a good return at the end of the year. This happens by a very curious cycle, let's see how the AXS cycle works within Axie Infinity.
The cycle starts with the playerswho decide to start playing Axie Infinity and get tokens by playing the game. This token will be staked in the treasury of the game, which will give you an annual return, but how do you get this return? Well, we will apply the same process. Players who play Axie Infinity, receive tokens, but spend them in the same game. This token automatically becomes part of the treasury..
As players who have stacketed AXS in the treasury, they will receive a percentage of the annual profits. This cycle repeats itself, some as accumulators and others as consumers.
Full delivery process for AXS
As we have been telling you, a total of 270,000,000 AXS will be released. within Axie Infinity, this will be the final limit. It will be spread over 6 years to maintain a healthy economy and not produce inflation that will affect the value of the token and the gaming experience. The profits generated by this token will go towards various segments of the game, which are as follows:
- 26% will go to the treasury to be distributed as an annual return to players who have staked their AXS.
- 21% is assigned to the Sky Mavies team, distributed among users or offices to continue the game's development.
- 20% goes towards the game, i.e. to distribute among the players who rank well in the arena mode.
- 11% is aimed at the public sale, i.e. exchangers such as Binance.
- 8% aimed at the development and evolution of Axie Infinity ecosystem
- 7% divided among all the sponsors who supported the project from the beginning.
- 4% will be directed between royalties to the investors of the game.
How to get AXS
The two main ways to get AXS for Axie Infinity are buy it through Binance or by playing in arena mode and becoming one of the best. Let's start with Binance, within this Exchange platform you can get it at the market price and you can easily transfer it to your MetaMask wallet and then to Ronin wallet to top up your in-game account.
The purchase process within Binance is like that of any other cryptocurrency available on the site. You select in the market you want to buy AXS and with which currency you are going to cancel it, ideally in local currency if you do not have USDT. If you have USDT you can trade it within Binance itself by AXS and transfer it from your Spot wallet.
If you want to get AXS within Axie Infinity for "free" you must be in the top 1000 places in the entire arena mode.. We have an article that details this perfectly and how depending on where you place in the standings Sky Mavies will give you an AXS bonus at the end of the season.
The amount of AXS that is given out is without a doubt an incredible incentive for people to continue playing Axie Infinity arena mode. And well, it is hoped that the Sky Mavies team will achieve to maintain the economy of the SLP and the AXS in good shape. to maintain a good profit margin among its players.
In the last update that took place in August, measures were taken to maintain the economy of the game. Such as the reduction of the SLP bonus in the adventure and Task mode, and the increased rewards at AXS within the arena mode.