Axie Infinity Shards - $AXS
Axie Infinity Shards(AXS) are an ERC-20 governance token for the Axie Universe. AXS holders will be able to claim rewards if they stake their tokens, play the game, and participate in key governance votes. Players will also be able to earn $AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives.
Our goal with Axie Infinity Shards is to align the incentives between the players of the game and the developers in novel and exciting ways. The mechanisms described above have two main goals:
- To reward players for interacting with Axie Infinity while simultaneously incentivizing them to hold on to their tokens so they can claim additional rewards.
- To decentralize the ownership and governance of Axie Infinity.
We want Axie to become the first game truly owned and operated by the community that plays it. This opens up limitless possibilities but must be approached carefully. In the past, projects have been abandoned and become stagnant using the term “decentralization” as a ruse. The shift to a true Decentralized organization will occur gradually over time.
In early 2021, the Community Treasury will go live. The Community Treasury will begin to receive revenues generated by Axie Infinity as well as a portion of staking rewards. This treasury will be governed by AXS stakers eventually, once the network has become sufficiently decentralized.
The Treasury receives inflows from:
- 4.25% of all Axie NFT marketplace transactions.
- The AXS portion of the breeding fee.
More streams will be added in the future from cosmetic sales, tournament entree fees, licensing fees, and more as new opportunities present themselves.
In the early days of Axie Infinity, staking issuance will be high-- encouraging a high portion of staked AXS without requiring an additional source of funding.
However, as the issuance allocation drops over time, there will need to be another source of funding to encourage a high percentage of staked AXS. This is a potential use for the Community Treasury, which will have a sustainable source of funding from fees related to Axie infinity.
The Community Treasury on The Ronin Block Explorer