What is Axie Infinity (AXS)?
Axie Infinity is a blockchain-based game where players breed, battle, and trade fantasy creatures called Axies. The native token, AXS, is used for governance, staking, and purchasing in-game assets.
Why AXS Staking is so high?
1. Token Distribution Model: 29% of AXS tokens are allocated for staking rewards, creating a large reward pool.
2. Fixed Reward Issuance: 1,566,000 AXS are distributed monthly until July 2025, ensuring steady rewards.
3. Early-Stage Incentives: High initial rewards to encourage staking and participation.
4. Variable APY: APY depends on the total AXS staked; fewer stakers mean higher APY, once reaching 311%.
5. No Lockup Period: Tokens can be unstaked anytime with a 24-hour waiting period.
6. Ecosystem Revenue: Staking rewards are partly funded by ecosystem fees.
7. Governance Incentives: Stakers gain governance rights for the Community Treasury.
AXS Staking: How it Works
Staking AXS involves locking up your tokens to earn rewards and support the Axie Infinity ecosystem. Stakers earn additional AXS tokens as rewards for their participation.
Benefits of Staking AXS
1. Earning Rewards: Generate passive income through staking rewards.
2. Governance Participation: Influence key decisions and protocol updates within the Axie Infinity ecosystem.
3. Supporting the Network: Contribute to the stability and growth of the Axie Infinity platform.
Steps to Stake AXS
1. Acquire AXS Tokens: Purchase AXS tokens from a cryptocurrency exchange.
2. Choose a Staking Platform: Select a platform that supports AXS staking.
3. Deposit Tokens: Transfer your AXS tokens to the chosen platform.
4. Start Staking: Lock your AXS tokens to begin earning rewards.
5. Monitor and Claim: Regularly check your staking status and claim rewards as they accrue.
Platforms for Staking AXS
• Axie Infinity Staking Portal: The official platform for staking AXS tokens directly.
• Binance: Offers staking services for AXS with competitive rewards.
• YouHodler: Provides high-yield staking options for AXS with flexible terms. Learn more here.
Using AXS in DeFi Protocols
AXS can also be used in various DeFi protocols for additional yield opportunities. Providing liquidity in pairs like AXS-ETH on platforms such as Uniswap can earn trading fees and liquidity mining rewards.
Additional Information from StakingY.com
• Staking Rewards: Staking AXS can yield annual rewards, varying by platform and market conditions.
• Staking Strategies: Combining AXS staking with liquidity mining in DeFi protocols can maximize returns.
• Security and Risks: Ensure that platforms used for staking are secure to protect against hacks and fraud. Evaluate lock-up periods and potential market volatility.
