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Binance Launchpad is about to launch AXS, the governance token of the encrypted game Axie Infinity, let’s first understand its token model

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Axie Infinity is the most popular NFT game project today. Users can collect, train, and raise digital creature Axie in Axie Infinity and play against other players or AI. Each Axie is unique.

Rhythm BlockBeats news, Binance Launchpad is about to launch the governance token AXS of the encrypted game Axie Infinity, and has opened a snapshot of the BNB special session on October 27. This round of position snapshot cycle is from 8:00 on October 27th to 8:00 on November 3rd. Binance will allocate lottery tickets based on users’ average daily BNB holdings on the 7th.

Rhythm has sorted out the token model of AXS according to the official information of Binance. The specific information is as follows.

Token Allocation

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Total circulation of tokens: 270,000,000

Initial circulation supply : 59,985,000 pieces, 22.2%

Binance Launchpad sale: 11.00%

Private sale: 4%

Play to Earn: 20%

Staking Reward: 29%

Team: 21%

Advisor: 7%

Ecosystem Fund: 8%

Generation Coin Sales Data

Private Sale Allocation: 10,800,000 AXS

Private Sale Agent Coin Price: $0.08/AXS

Total Private Sale Raised: $864K

Binance Launchpad Sale Allocation: 29,700,000 AXS

Binance Launchpad sale token price: 0.10 USD/AXS

Binance Launchpad estimated total amount raised: 2.97 million USD

Token governance and use of funds

As of press time, Axie The team has used the raised funds according to the following distribution:

Development fee: 85%

Administrative fee: 10%

Business development and marketing: 5%

All funds are kept in a multi-signature cold wallet controlled by the core team. All use of funds requires the signature of at least two-thirds of the top management team.

AXS Token Release Schedule

AXS Token Purpose

AXS Token has The following uses:

Governance: AXS token holders will be able to use tokens to participate in governance voting;

Staking: Players can stake their AXS tokens to get weekly rewards;

Payment: Players can use AXS tokens to pay when they play games pay.

Players can earn AXS tokens by participating in games or voting on proposals.

It is expected that in early 2021, players will be able to earn rewards for staking AXS tokens. The amount of AXS Token rewards a player receives depends on whether the player has played the game and participated in governance voting for a period of time. All issued rewards will be locked in the smart contract for a period of 1 year.

The community treasury will be launched after the staking feature is implemented and will receive income generated by Axie Infinity as well as a portion of staking rewards. When the network becomes sufficiently decentralized, this treasury will be managed by AXS stakers.