Axie Infinity introduces AXS staking program
Axie Infinity, a play-to-earn NFT game, has announced the launch of the staking program for its native token Axie Infinity Shards or AXS.
Staking rewards will be activated in 24 hours.
AXS holders can now stake their tokens while the rewards will be activated in about 24 hours to ensure all time zones can stake beforehand, The team plans to give voting rights and a say on how the Community Treasury is used. There are currently more than 18 million AXS tokens worth more than $1.4 billion in the Axie Infinity's Community Treasury.During the first month of the staking program, 2 million AXS tokens will be distributed. Approximately 58 million of the set cap of 270 million AXS tokens are in circulation, with the remainder being released through staking, game rewards, and ecosystem reward structures.
What is Axies Infinity?
Axie Infinity is inspired by Nintendo's popular Pokémon series, where you collect adorable monsters and pit them against each other in cartoon-style battles. The focus is on turn-based battles, either against computer-controlled Axie teams or live opponents over the internet. The game runs on the Ethereum blockchain using Ronin, a side chain that helps minimize fees and transaction delays.What makes the game unique is its successful "play-to-earn" mechanism. Users can breed Axies and earn real money from them. The "Play-to-Earn" approach rewards them with crypto tokens that they can exchange for cash. AXS tokens are also traded on various crypto exchanges. The token is a small part of the game its universe.
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