Axie Infinity, an NFT money game based on the Ethereum blockchain, has announced the launch of a staking program for its native token, Axie Infinity Shards, or AXS.
AXS holders can start wagering their tokens while the bonus activates in 24 hours to ensure all time zones are wagered in advance, according to an announcement dated Sept. 30.
“Staking is a way for us to reward our community members for thinking long term and blocking their AXS tokens,” said the Axie Infinity team, part of the Axie Infinity team, adding that through staking AXS -Can earn rewards.
The group plans to give voting rights and “one vote on the use of the community treasury” through staking out. Axie Infinity’s Community Treasury holds over 18 million AXS tokens valued at over $ 1.4 billion at press time.
A total of 2 million AXS tokens will be distributed in the first month of the staking program. Roughly 58 million of the total of 270 million AXS tokens are in circulation, with the rest being released through staking, game rewards and the reward structure of the ecosystem, the announcement said.
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Launched in 2018, Axie Infinity is a trading and fighting game that allows players to collect, breed, raise, battle and trade Axies, essentially inedible tokens (NFTs) with varying attributes and powers.
The AXS tokens, which are also listed on several crypto exchanges, represent a small part of the gaming universe. In addition to direct purchase, players can also achieve in-game achievements such as reaching the leaderboards or winning tournaments.