Axie Infinity Staking Program
Ethereum based play-to-earn NFT game Axie Infinity has launched a staking program for its native token Axie Infinity Shards (AXS).
According to the Sept. 30 announcement, holders of the AXS token can begin staking their digital assets, even though the rewards will be activated in 24 hours to ensure that users in other time zones can stake them beforehand.
“staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens.”
According to the official statement, about 58 million of the set cap of 270 million AXS tokens is currently in circulation while the rest would be distributed via staking, gameplay rewards, and ecosystem reward structures in the first month of the staking program. Meanwhile, a total of 2 million AXS tokens are scheduled to be distributed already.
AXS tokens represent a little slice of the game’s universe, and players can also earn in-game achievements such as taking place on leader boards or winning tournaments, in addition to directly buying them.