AXS Up 32 Percent In The Last WEEK, Don't PHOMO!

The AXS token has increased in recent days. (Photo; Doc. Cryps)

JAKARTA The main token to the Play-to-earn Axie Infinity game, AXS, has experienced a significant increase recently. AXS managed to skyrocket 32.8 percent in the past week. This latest increase strengthens the AXS rally that has occurred since two weeks ago.

At the time of writing, AXS is trading at IDR 180,023 per token. AXS ranks 41th as the largest cryptocurrency by market cap, as reported by Coingecko data.

Axie Infinity is a blockchain game that allows users to get rewards in the form of crypto. Players will use in-game tokens, Smooth Love Position (SLP) for in-game transactions.

While the main AXS token allows players to vote in the development of the game Axie Infinity. That means, AXS is a governance token in the game project. Therefore, the price of the AXS token is higher than the SLP token in-game.

Vesting Token

Play-to-earn (P2E) games implement a investing system to regulate how players can earn and maintain assets in the game. Vesting will set the timeframe required to acquire assets and also manage the system to keep assets for a specified period of time.

This investing system is added to prevent market manipulation and maintain economic stability in the game. With this system, players have to wait for a certain period of time before they can sell or use the assets they acquire. This will prevent players from mass selling their assets and lower market prices.

According to data from TokenUnlocks, today's opening of the Axie Infinity token is much smaller than the previous event that took place in November or the upcoming unlocking in May. This is because the divesting schedule used in today's token opening will only be distributed to those who get staking rewards only.

Tokenomics and Axie Infinity allocations as described in its whitepaper, the largest part of the tokens opened during the entire divesting schedule will be distributed as staking prizes (29 percent), with the second largest share awarded to the team (21 percent).

However, according to a Coingape report, the recent investment schedule, the opening of tokens will only be distributed to those who get staking rewards, so the number of tokens opened today is less than the opening of previous tokens.