Axie Infinity (AXS) Launches a Staking Scheme to Reward Participants

Kavya  |  Oct 1, 2021

Axie Infinity (AXS/USD), an Ethereum-based nonfungible token (NFT) game, announced to launch a scheme that Axie Infinity participants will begin collecting rewards for staking their AXS tokens. To ensure that all time zones may be staked on time, the incentives will be triggered in 24 hours.

To Reward Participants, Axie Infinity Launch A Staking Scheme

Staking, according to the Axie Infinity team, is a method to reward community members who have locked up their AXS tokens for the long term, and gamers may receive AXS incentives when they stake on the platform. 

On the gaming platform, you may gather, breed, raise and trade NFTs known as Axies. They each have their own set of strengths and weaknesses, which adds to the enjoyment of the game. 

Aside from the possibility of earning prizes, the team intends to grant members voting rights. It will also allow them to take part in various decision-making processes inside the Axie gaming community. 

At the time of publication, the Axie Infinity Community Treasury had about 18 million AXS tokens valued at approximately $1.4 billion.

During the first several months of the staking program, the team intends to issue roughly 2 million AXS tokens. 

The goal is to increase the number of users and holders who engage in the staking program.

Currently, about 58 million AXS tokens are in circulation, out of a total supply of 270 million AXS tokens. 

According to Axie Infinity, the remaining tokens will be released through staking for ecosystem reward, gaming, and staking structures.

More Ways for Players to Earn Rewards

Axie Infinity was released in 2018 as a fighting and trading game that allows users to do a variety of tasks on the platform. 

The tokens have now been published on many crypto exchanges and are gaining popularity among the NFT community.

Aside from purchasing the tokens directly, users may gain in-game accomplishments by winning tournaments or ranking high on leaderboards.

Related News