Indodax has added another listed crypto asset. This time, it’s Axie Infinity (AXS)’s turn to be listed on Indodax, this week. Let’s go over the explanation.
Understanding Axie Infinity (AXS)
Axie Infinity is a blockchain-based trading and fighting game partially owned and operated by its players.
Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle, and trade token-based creatures known as Axies.
It can take many different forms, and there are more than 500 body parts available, including parts of water, animals, birds, insects, plants, and reptiles. The subset of each typeclass has four different rarity scales: common, rare, extremely rare, and legendary. Axies can have any combination of body parts, making them very varied and often rare and unique.
Each Axie is a Non-Fungible Token (NFT) with different attributes and powers and can be entered into 3v3 battles. The winning team gains more experience points (exp) which are used to increase Axie’s stats or develop their body parts. These Axies can be bred together to produce new and unique breeds, which can be used or sold in the Axie market.
The Axie Infinity Ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). It is used to participate in major governance ballots and will provide holders of voting rights on how to fund in the Axie Community Treasury.
The Uniqueness of Axie Infinity (AXS)
Each Axie has six out of hundreds of potential different body parts. Each has its own battle moves. This basically results in endless variations between Axies. Most Axies had relatively weak stats. Whereas Axies with the strongest combination of body parts can have extraordinary stats.
Unlike some other blockchain based fighting and breeding games. Each Axie can only be bred seven times to help control the Axie population.
Axie Infinity has its own mating hub to help users find a suitable mate to breed their Axie. The goal is to have the best chance of producing rare or powerful offspring. It costs 0.005 ETH in addition to Small Love Potion (SLP) tokens to breed Axies.
AXS token holders will soon be able to stake their tokens to receive regular rewards. But unlike some other staking assets. AXS holders also need to vote and play to claim their rewards.
Axie Infinity Circulation (AXS)
The Axie Infinity (AXS) token has a total supply of 270 million tokens. Of these, around 53.5 million tokens were in circulation as of mid-November 2020.
In total, 11% of the total supply was allocated to participants in the Binance Launchpad IEO sale and 4% was sold in private sales.
In addition, 29% is allocated for betting rewards, 20% for games to earn pools, 21% for teams, 7% for advisors, and 8% for ecosystem funds. A total of 100% of AXS tokens will be in circulation by early 2026.
Security Axie Infinity (AXS)
The Axie Infinity (AXS) token is an ERC-20 token launched on the Ethereum blockchain. As a result, it is guaranteed by Ethereum’s proof-of-work (POW) consensus mechanism.
In early 2021, Axie Infinity plans to migrate its NFT tokens, including Axies, Land, and other in-game item tokens from the Loom Network to a custom-built sidechain on Ethereum known as Ronin.
Ronin is an app-only sidechain made just for Axie Infinity. It is being developed by Sky Mavis — the development company behind the game Axie Infinity, and is designed to support near-instant confirmation of transactions, reduce fuel costs, and be able to help scale Axie Infinity.
How to Buy Axie Infinity (AXS) Crypto Assets on Indodax
Well, this week, the Axie Infinity (AXS) crypto asset will be listed on Indodax, namely open deposit on August 4, 2021 at 14:00 WIB and open trading on August 5, 2021 at 14:00 WIB.
Here’s how to buy it:
- For those of you who are not yet a member, click the link here.
- After that, make a deposit. For those of you who are confused about how to deposit, if you click this link
- After your deposit and balance come in, you can return to the market.
- Search AXS. Then click
- After logging in, all you have to do is buy by filling in your balance and at what price you want to buy AXS. Or you can also buy it instantly or directly.
- After that, you need to patiently wait for the price to increase for some time.
- After the price increases, you can sell it at a higher price with the instant method.
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.