First published 5 November 2020, the day after the token’s trading date. Expanded in October 2026 so a creature is not described as AXS, and so the bridge loss is not described as the game chain minting coins. Axie Infinity is a game from Sky Mavis. An Axie is a creature, an NFT. Land is another NFT. AXS is the token, capped at 270 million. SLP is a second token the game pays out. It has no such cap. A price of AXS is not a price of SLP, and neither is the creature. Ethereum without the jargon is where the token started. ETH paid that fee. An NFT is a receipt, not a painting in a vault.
The public sale on Binance opened on 27 October 2020 at 0.10 dollars, for 29.7 million AXS, 11 percent of the cap. The issued float at the start was about 60 million, 22 percent. The published schedule unlocked the rest over 65 months: 29 percent for staking rewards, 20 percent for play-and-earn, and the remainder for the company, advisors, a private sale, and an ecosystem fund. That clock has run. An unlock was coins that already existed. The cap is still 270 million. A lock that paid more AXS was spending that allocation. Staking is a lock and a queue, not a savings account.
Ronin is not Ethereum
Ronin, a sidechain the studio built, opened for land in February 2021. Creatures and tokens were moved there that spring. AXS on Ethereum is not AXS on Ronin until you are looking at the contract the project points at. A 0x address on Ronin is not an Ethereum address. Breeding and the marketplace were paused on Ethereum so they would happen on Ronin. This page will not walk through breeding.
In March 2022 the bridge was drained of ether and a dollar token. The project later put the loss at 173,600 ETH and 25.5 million USDC. Those were coins the bridge held. The game’s chain did not mint them, and Ethereum did not break. The Ronin hack was a bridge with too few keys, not Ethereum failing. is that week, written as news. Users were told the loss would be covered. A promise to cover is not the same as the coins never having left. A bridge is extra software, not a tunnel. This page will not describe how it happened. The wrong network is still the wrong city. Nothing here is an instruction to bridge, to breed, or to buy AXS.
