After announcing the end of SLP rewards in Axie Infinity: Origins earlier in January, Sky Mavis co-founder Jeff Zirlin announced in a recent X post that the game’s AXS rewards will also cease, to be replaced by a new token variant called bAXS.
This uses Limit Break’s ERC20-C protocol. Such tokens are labelled AppTokens.
Designed to help developers control token supply and reduce selling behaviour, bAXS – short for “Bonded AXS” – is intended to keep value circulating within the Axie ecosystem. Backed 1:1 by AXS, the token will be used to reward active ecosystem contributors and can only be spent or staked.
However, a key difference lies in the selling process, where Axie reputation and Axie score determine the fee a user is required to pay when they sell bAXS.
Lower charges are applied to users with higher Axie scores, with fees going to the Axie treasury.
“A good day for $AXS, but the true story here is the structural changes to supply that we’re making this year,” Zirlin wrote.
The price of AXS doubled to over $2 on the news, although falling back slightly since. The token currently has a marketcap of around $300 million.
