Axie's Ronin Airdrop

Axie's Ronin Airdrop

Retroactive Airdrops are something of a known Alpha especially for those projects without Tokens during launch. On October 26th 2020 Axie Team took a snapshot of the Ethereum Block  #11130500. Earlier they had announced that there will be a gift for approximately 10,000 founding members. In the current evaluation, that’s over $76 million, distributing 800,000 AXS tokens fulfilling their commitment nearly a year later representing it to be a truly community-owned game.

The snapshot extracted multitudes of variables to reward loyalty and involvement. 

  • Axies and land owned.
  • Marketplace activity.
  • Battles won. 

During the snapshot, there was no AXS token and the team were busy building the necessary infrastructure and AXS token itself with modelling projections for an optimal Airdrop. The economic and transparent option would have been to lock in a certain amount of tokens and inform the community, but they didn’t and the community didn’t complain either. That gave a degree of flexibility to identify key elements in measuring Loyalty. 

Those early adopters can check their Ronin wallet linked to their old Ethereum address for their gift. The ratio of tokens to wallets indicate it made millionaires playing a blockchain game laughing at the legacy thinking.

When you release 800K tokens to the community many would expect a massive red candle on the token price, but Axie has been defying odds with a huge upswing in the price thanks to their staking dashboard launch.

Axie timed the drop with their staking feature launch with attractive APR, which brings an interesting dynamic to fuse gaming and DeFi. Axie has put up amazing content for walking through users through the process of staking and smart contract interaction.

During the first month of staking there will be rewards of up to 2,000,000 AXS. This is 64,516 AXS per day and 2.24 AXS per block (there are ~28,800 blocks in a day). The team is currently collaborating with Delphi Digital. The primary aim is to gather data from other chains to study inflation reduction and maximising emission schedule while keeping the Max supply fixed with 270 Million.

Axie community treasury has more than a billion-dollar worth of tokens, Stakers will have voting rights to how the treasury and governance are managed, which encourages staking and community participation. Their team also mentioned working on utilities for the AXS token in other ecosystems.

They are developing methods to enhance governance and working on improving coordination problems. Axie has been on a crazy run exceeding expectations and setting records in user adoption, volumes and most importantly glueing the community together in a sustainable ecosystem. 

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