The latest update introduces bAXS, a wallet-bound version of AXS, designed to reward supportive users and maintain sustainability within the Axie Infinity ecosystem. Each bAXS corresponds to one AXS, secured in a smart contract, with transactions resulting in the burning of bAXS. bAXS is non-transferable, but you can use it for various Axie Core features at a 1:1 rate with AXS, such as staking, breeding, and evolving Axies. Users cannot combine bAXS and AXS for transactions, but can convert AXS to bAXS to utilize existing balances fully. Transaction mechanics include a dynamic exchange rate based on Axie Score Designation when converting bAXS back to AXS. Staking bAXS yields AXS, further incentivizing participation in the Axie ecosystem.
Vulcan Forged to Pause Operations From July 23 for Restructuring
Vulcan Forged will pause operations from July 23 while the company restructures. The restructuring will focus on reducing costs, simplifying operations, and identifying which products and systems have a sustainable future. The CEO says the company has operated at a...