AXS token rises by 21,6% ahead of the transition to a decentralized governance model
Axie Infinity’s decentralized board will include 700 members to test the new project governance system
05.12.2022 - 13:30
217
2 min
0
What’s new? The price of the AXS token of the Axie Infinity gaming project has risen by 21,6% in 24 hours. As of December 5, its price is $8,23, according to CoinGecko. The altcoin’s growth may be due to the project’s community initiative to form a decentralized ecosystem. Information about this has been published on the Axie Infinity page on the Substack platform.
What is Axie Infinity? It is a Play-to-Earn blockchain game in which users can earn money by selling, breeding fantasy creatures, and their battles with other players. Axie Infinity was developed in 2018 by the Vietnamese studio Sky Mavis. The game uses AXS and SLP tokens on the Ethereum blockchain. All creatures in Axie Infinity are NFT tokens.
What else is known? The decentralization initiative includes board formation, resource allocation, on-chain voting, and project treasury formation. The ultimate goal is to give the community the responsibility of guiding each other through self-organization, where participants will be responsible for making decisions about the future of the Axie Infinity ecosystem.
The project’s representatives have noted significant progress toward progressive decentralization. Nearly 700 participants are ready for the pilot launch and will soon receive a community acceptance letter, a role in Discord, and access to the newly created Governance section.
In April, Sky Mavis, the developer of the Axie Infinity game, launched a bounty program for detecting bugs in smart contracts. The company promised a $100 000 reward for finding “critical” vulnerabilities. For “low,” “medium” and “high” risk bugs, the rewards are $1 000, $5 000, and $50 000 respectively.
The bounty program was launched after the Ethereum-compatible Ronin network suffered a hacking attack that caused Sky Mavis to lose more than $625 million. The hacker managed to take over the validator nodes and withdraw 173 600 ETH and 25,5 million USDC.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$88 151
BTC
-2.56%
-
Ethereum
$3 068.19
ETH
-4.46%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.372213
DOGE
-5.45%
-
Ripple
$0.820891
XRP
+16.41%
-
Cardano
$0.591264
ADA
+2.25%
-
Bitcoin Cash
$419.06
BCH
-4.68%
-
Polkadot
$4.82
DOT
-4.84%
-
Litecoin
$80.95
LTC
+7.74%
-
Stellar XLM
$0.134112
XLM
+7.94%