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What is the issuance and circulation of AXS coins?
As of June 2023, about 54 million AXS coins are in circulation, representing approximately 20% of the total supply of 270 million coins.
Oct 25, 2024 at 01:48 am
Issuance and Circulation of AXS Coins
1. Issuance
- Axie Infinity (AXS) coins were first issued in November 2020 through an initial coin offering (ICO).
- A total of 270 million AXS coins were created, with 11% of them (30 million coins) allocated to the ICO.
2. Distribution of ICO Coins
- 4% to token sale participants
- 2% to advisors and angel investors
- 1% to development teams
- 2% to early node operators
- 2% to strategic partners and reserves
3. Circulation
- As of June 2023, approximately 54 million AXS coins are in circulation, representing about 20% of the total supply.
- The remaining coins are held by the development team, investors, and reserves for future use and rewards.
4. Role of AXS Coins
AXS coins serve several key roles within the Axie Infinity ecosystem:
- Governance: AXS holders can vote on changes and updates to the game and its underlying systems.
- Staking: Staked AXS coins can earn rewards in the form of additional AXS and SLP (Smooth Love Potion) tokens.
- Breeding: AXS is required to breed Axies, the collectible creatures used in the game.
- Marketplace transactions: AXS can be used to purchase and sell Axies and other game assets on the Axie Infinity marketplace.
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