axs

AXS, or Axie Infinity Shard, is a blockchain-based governance and utility token that powers the Axie Infinity ecosystem. It is an ERC-20 token issued by Sky Mavis and is used in conjunction with the Axie Infinity game, a blockchain-based collectible creature game. The token operates on the Ethereum blockchain and is bridged to the Ronin sidechain to reduce transaction costs for in-game activity.

Functions of AXS include staking to earn rewards and participating in on-chain governance, where holders can vote on proposals related to the ecosystem. The token also serves to enable various in-game economic activities and to support ecosystem development through treasury funding. Governance is conducted via a decentralized autonomous organization, with voting rights allocated to AXS holders.

Economically, AXS has a fixed supply and has been distributed across multiple channels, including treasury reserves, project team allocations, and public sales during its rollout. The token trades on major cryptocurrency exchanges and is commonly used by participants within the Axie Infinity ecosystem to engage with the game's economy and governance processes.

History and context: AXS was introduced to support the Axie Infinity platform, which rose to prominence in the early 2020s as one of the leading blockchain-based games. The ecosystem and its governance structure have evolved alongside the broader growth of decentralized finance and play-to-earn models. The Axie ecosystem, like many cross-chain projects, faces ongoing considerations around security, scalability, and user adoption.

See also: Axie Infinity, Sky Mavis, Ronin, Ethereum.