In Brief:
- Axie Infinity launched its staking program for AXS
- The staking will help users to discuss on the Community Treasury use and will also give voting rights
- Axie Infinity will airdrop $ 60 million worth of AXS governance tokens to early players of the game
Axie Infinity, a play-to-earn Ethereum Blockchain game, has revealed the staking program for its native token, Axie Infinity shades (AXS).
As per the announcement, AXS holders can initiate staking of their tokens, But the reward will be distributed in 24 hours. The reason behind this is to let people across the globe, who live in different time zones, participate in staking.
The Axie Infinity team has stated that “Staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens”. The announcement also said that the platform would airdrop $60 million worth of AXS tokens to early users of the game.
The Axie Infinity’s team also wants to give voting rights and “a say over the use of the Community Treasury” by the staking. Currently, The Community Treasury is holding 18 million AXS tokens. The total worth of these tokens is $1.4 billion.
In the first month of the staking program, The team is planning to airdrop 2 million AXS tokens. At present, nearly 58 million of the set cap of 270 million AXS tokens are in circulation. The remaining tokens will be given away via various staking, gameplay rewards, and ecosystem reward structures.
Axie Infinity was launched in 2018, in which players can collect, breed, raise, battle, and trade Axies. These Axies are mainly NFTs with various attributes and strengths.
AXS tokens are listed on many crypto exchanges. Users can purchase these tokens from the exchange platform as well as Players can also collect through in-game achievements such as marking them as a top of the playboard.
