Through AXS, Axie Infinity will gradually evolve into a community-owned Decentralized Organization
This process occurs as AXS is distributed among players and stakers, with the Sky Mavis ownership becoming less concentrated over time.
The Sky Mavis team will be able to vote with the locked Play to Earn and Staking rewards allocations. This will prevent hostile actors from disrupting the ecosystem during the early and crucial phases of development. We estimate that Sky Mavis will no longer have the Majority vote by October 2023.
No voting possible
AXS holders can stake their tokens through the staking dashboard and participate in governance votes brought forward by the Sky Mavis team.
These votes will revolve around which teams should receive funding from the ecosystem fund, and how the Community treasury should be distributed.
More on-chain votes about smaller issues.
Potentially changing the way votes are being counted from 1 token 1 vote to Quadratic voting.
AXS holders determine which governance framework should be used and how much should be voted on. Some decisions will not be up for debate such as token supply which is iron-clad in smart contracts.
Potential things that can be voted on:
- Should Axie Infinity Limited continue to pay Sky Mavis to develop Axie Infinity?
- Should Axie Infinity use the marketplace created by Sky Mavis?
- How should the Community Treasury be used to reward AXS holders and the broader Axie community?
- Should the Community Treasury funds be attached to any yield farming/staking services such as Yearn.finance or Rari.Capital?