bAXS (Bonded AXS) is a specialized version of the AXS token designed to power the Axie Infinity ecosystem. It is designed to reward active players and ensure that the value generated within the digital nation stays within the community to support long-term sustainability.
Key Characteristics:
- bAXS is the token you earn from Axie games, leaderboards, and ecosystem experiences.
- To prioritize active contributors, bAXS cannot be transferred between wallets. It is bonded to the account that earned it, but you can use it for various Axie Core features in place of AXS at a 1:1 rate. You also have the flexibility to convert it into AXS at any time with an exchange rate based on your standing in the ecosystem [Axie Score Designation].
- Every bAXS is backed 1:1 by AXS in a secure smart contract. When you use/convert bAXS, it is burned, and the corresponding AXS is released from the contract to complete the transaction.
Using bAXS on App.Axie
On App.Axie, bAXS is fully integrated into Axie Core features. To provide the best value to players, the system prioritizes bAXS as the primary currency.
When performing an action on App.Axie, the system checks your balances in a specific order:
- If you have enough bAXS to cover the full cost of the transaction, the system will use your bAXS.
- If your bAXS balance is not enough to cover the full amount, the transaction will be charged entirely in standard AXS instead.
Note: The system cannot split a single transaction between bAXS and AXS. If you are short on bAXS, you can convert AXS to bAXS to cover the difference [see the conversion steps below].
Supported Axie Core Features
You can spend bAXS at its full 1:1 value for:
- Ascending, Evolving, and Breeding
- Restoring Atia Streak
- Forging Items and Consumables
- Minting Runes/Charms from Axie Infinity: Origins
- AXS Staking
NOTE: Staked bAXS is valued at a 1:1 ratio with AXS for all snapshots and when calculating staking rewards. Rewards from staking bAXS is paid out in AXS, and direct restaking option is not available for bAXS staking rewards.
Note: Future updates will enable the ability to purchase NFTs directly from the Marketplace using bAXS.
Converting bAXS and AXS
Step 1: Go to your App.Axie Inventory, locate your bAXS balance, and click the Swap icon next to it.
Step 2: Use the switch button in the middle to toggle between AXS ➔ bAXS or bAXS ➔ AXS.
Step 3: Enter the amount you wish to convert. Click Swap and confirm the transaction in your wallet.
Tip: You can also find a direct link to the conversion interface under the Axie Experiences menu on App.Axie.
Exchange Rate
Conversion of bAXS to AXS is based on a percentage exchange rate, designed to incentivize reinvestment into the Axie Core loop and ensuring the value generated by active players supports the ecosystem. The difference between the values is sent directly to the Community Treasury. Dedicated players with higher Axie Scores are recognized with a significantly higher exchange rate, while those less active contribute more to the treasury when seeking liquidity.
Converting AXS to bAXS is always 1:1. However, converting bAXS to AXS follows this exchange rate, which is determined by your current Axie Score Designation.