Axie Infinity is a turn-based card game created by Vietnamese gaming studio Sky Marvis. Set in the fictional metaverse of Lunacia, players must collect, raise and breed creatures called Axies to square up against other players.
This Pokemon-inspired monster breeding game combines Non-Fungible tokens with DeFi to reward players for battling their NFT in-game creatures.
The game also features an extensive economy powered by fungible and non-fungible tokens represented by lands, abilities, and in-game assets.
Players can participate in the game’s economy with in-game tokens Axie Infinity Shards (AXS), and Small Love Potions (SLP). Players also get rewards for participating in various modes, including Adventure or Arena modes.
Axie Infinity started on the Ethereum network. However, due to the high gas fees, low transaction throughput, and frequent network congestion on the Ethereum blockchain, Sky Mavis developed the Ronin sidechain to cut off the shortcomings of the Ethereum L1 chain.
Gameplay – How Axie Infinity Works
Axie Infinity is a turn-based game. This means that players must take turns while playing. In the game, players must breed and battle with unique monstrous creatures, the Axies.
Starting in the game, players claim their free Axies to start barreling with other players. New players can claim three Axies of basic abilities and breed them. Alternatively, they can buy powerful Axies in the Axie Infinity marketplace.
Each Axie comprises different traits and characteristics. These traits are unique features defined by their body part or class. They determine an Axie’s cost and rarity level.
Regardless of their class or body part, the effectiveness and power of each Axie in battle is based on four statistical attributes:
After putting a team of Axies together, players can square off with enemies Axie team in a 3v3 match. Essential to the Axie Infinity battling gameplay is the ability cards that determine each Axie’s move in each turn.
Fighting with other teams and participating in in-game activities is the best way to earn rewards and level up your Axie to become more powerful. Players can also earn additional rewards by battling Chimeras which are monster creatures within Lunacia.
Another important part of Axie Infinity gameplay is breeding Axies. Once Axies have undergone five days of development, they can give off new offspring with unique capabilities. Each Axie can give off 1 to 7 offspring depending on their parent’s breeding count.
Axie Infinity’s Lunacia metaverse comprises plots of land that constitute the land gameplay of the game. Players can participate in the game’s real estate system by buying and investing in their land plots.
With the land, players can develop and explore their metaverse for resources, crafting ingredients, and participating in in-game adventures.
Axie Infinity’s In-game Economy: Axie Infinity Shards ($AXS)
Axie Infinity Shard ($AXS) is the native token of the Axie Infinity, a part of the game’s dual token system. The ERC-20 tokens are the native and governance token of the game.
The main goal of creating AXS tokens within Axie Infinity is to provide a legal tender with a sustainable value that can align players’ interests with the game’s developers.
Also, to build a decentralized ecosystem where players can freely own and contribute their quota to the game’s development.
Players can earn AXS by participating in special in-game activities or via special user-generated content. They can also earn additional AXS tokens by dedicating their tokens to the staking pool.
The game’s economy also features a Community Treasury governed by AXS stakers. The Treasury will receive some percentage of the potential staking reward.
Additional revenue for the treasury will come from marketplace transactions, entry fees, asset sales, licensing, and other fees.
Steps to Stake AXS Tokens
Axie Infinity has provided a dedicated staking platform where users can easily dedicate their AXS tokens.
Axie staking platform has an intuitive, easy-to-use, and beautiful interface that is simple to navigate.
However, you can only use the Ronin wallet with the staking platform. Therefore, you need to set up a Ronin wallet and fund it with enough AXS tokens.
After funding the wallet, you can proceed to the staking platform and lock your tokens.
Here’s a step-by-step guide on how to stake your AXS tokens on the Axie staking platform:
- Download Ronin wallet
- Set up a new account
- Log in to Binance
- Buy AXS on Binance
- Transfer AXS tokens to Ronin wallet
- Navigate to Axie staking platform
- Stake AXS tokens
1. Download Ronin wallet
Ronin wallet is Axie’s special crypto wallet. It is a non-custodial multi-chain wallet that allows users to store Axie tokens and other important cryptocurrencies.
The wallet is available on mobile and PC devices.
For mobile phone users, go to your respective app store for iOS and Android phones and search for the Ronin wallet.
Hit DOWNLOAD/INSTALL to add the app to your phone.
Ronin wallet is available as a browser extension for PC devices. Go to your extension store and search for RONIN WALLET. On the wallet page, tap ADD TO CHROME to install the wallet.
2. Set up a new account
Once installation is complete, open the Ronin wallet from your browser’s navigation bar to begin setting up.
On the home screen, click on GET STARTED > I’M NEW. LET’S GET SET UP! if you’re a new user.
Input a strong and unique password and continue by tapping on CREATE WALLET.
Finally, click on REVEAL WALLET to back up your seed phrase. Ensure you keep your seed phrase safe since the wallet is non-custodial.
3. Log in to Binance
After setting up your Ronin wallet, it’s time to fund it with AXS tokens.
AXS is listed on many Centralized Exchanges, including Binance. With these CEXes, you can buy AXS tokens at a low fee.
Go to Binance at Binance.com on your web browser. On the homepage, click on LOG IN to access your Binance account.
Sign in with your email address and password and complete 2FA verifications to complete sign in.
If you’re new to the exchange, click SIGN UP to create an account. On the sign-up page, input your email address and a unique password in their respective fields.
Ensure you complete all verifications, including email and identity verification. Use the six-digit code sent to your inbox to verify your email address for email verification.
For KYC and identity verification, submit a clear copy of a government-issued ID card (passport, driver’s license, or national ID card) and utility bill in your ACCOUNT SETTINGS.
4. Buy AXS on Binance
After accessing your Binance account, you can now buy AXS tokens.
To do this, click on BUY CRYPTO and select a preferred payment method from the top left corner of the homepage.
On the purchase page, select AXS as the token you want to buy and input the amount of tokens you want to buy.
Click on BUY AXS to proceed to the payment page. Here, input payment details and complete 2FA verifications to approve the transaction.
5. Transfer AXS tokens to Ronin wallet
Once you’ve funded your Binance wallet with AXS tokens, it’s time to transfer them to your Ronin wallet.
Click on WALLETS > Fiat and Spot from the top right corner of the homepage. In your Binance wallet, click WITHDRAW in front of your AXS asset.
Before withdrawing, open the Ronin wallet and copy your wallet deposit address. It usually starts with ‘ronin:.’
Go back to the Binance withdrawal page and set NETWORK as RONIN. Paste your Ronin deposit address and specify the amount of AXS you want to withdraw.
Finalize transfer by completing 2FA verifications. Within 5 minutes, the tokens will reflect in your Ronin wallet.
After getting AXS tokens in your Ronin wallet, head to the Axie staking platform at https://stake.axieinfinity.com/.
On the staking platform, click on CONNECT TO RONIN WALLET.
Accept the prompt that appears in your wallet to confirm the connection.
7. Stake AXS tokens
Go back to the Axie staking platform after connecting your wallet.
In the staking dashboard, you’ll see your wallet, AXS balance, and staked token balance. Click on STAKE and input the amount of AXS you’d like to stake.
Finally, tap STAKE again to lock your tokens on the staking platform. Approve the transaction in the prompt that pops up in your Ronin wallet to complete AXS staking.