Axie Infinity (AXS)

Key metrics (as of October 26th 2020)

1. What is "Axie Infinity" (AXS)

Axie Infinity (or "the Project") is a Pokémon-inspired digital pet universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets (known as Axies). Currently, players can start the game by purchasing Axies from other players on the Marketplace.

All in-game assets and Axie-related data can be accessed by 3rd parties, allowing community developers to build their tools and experiences in the Axie Infinity universe.

The project team aims to build a platform that encompasses the characteristics of a social network and jobs platform by creating a strong community and play-to-earn opportunities.

Recent news

• June 2020: Introduced Ronin Ethereum sidechain.
• June 2020: Participated in the fifth season of Ubisoft Entrepreneurs Lab.
• May 2020: Released the Mavis Hub Launcher for application updates, new games, and more.
• December 2019: Released Axie Infinity community alpha.

2. Existing products

2.1 Battle

The Axie team started development on the real-time card battle system and application in March 2019 and released an Alpha in December 2019. The battle system was structured as an "idle battle" system with inspiration from games such as Final Fantasy Tactics and Idle Heroes.

The current Axie battle system pits 3 Axies against each other in real-time. At the beginning of each round, Axies are dealt with cards based on their body parts. Players must choose the cards that maximize their chances of winning while anticipating which cards their opponents will play.

2.2 Breeding

Similar to real-world pets, pets on the platform (called Axies) can be bred to create new offspring. To avoid hyperinflation of Axies, an Axie can only be bred 7 times. An increasing amount of Small Love Potion (SLP) is needed each time an Axie is bred. SLPs can be earned by playing the game in PvE Adventure mode as well as the PvP Arena.

Each Axie has 6 body parts as well as a body shape. For each part, an Axie possesses 3 genes. A dominant (D), recessive (R1), and minor recessive gene (R2).

The dominant gene is what determines the body part that is physically present on the Axie. When breeding, each gene has a chance to be passed down to the offspring. If a gene for a particular body part is not passed down, the traits for that body part will be randomized.

• Dominant (D): 37.5% chance to pass this gene to the offspring.
• Recessive (R1): 9.375% chance to pass this gene to the offspring.
• Minor Recessive (R2): 3.125% chance to pass this gene to the offspring.

2.3 Land

The Axie Infinity game world is divided into tokenized plots of Land which act as homes and bases of operation for Axies. Plots can be upgraded over time using a variety of resources and crafting ingredients that can be found when playing the game. In addition, Land owners might find AXS tokens on their land plots, or use the Axies that occupy the land plot to explore resources on the map.

There are currently 90,601 plots of Land in the game. These Land plots are represented as Non-Fungible Tokens (NFTs) and can be freely traded by players.

Players will also be able to create games using the Lunacia SDK and place these games on land that they own.

2.4 Marketplace

Axie Infinity's Marketplace allows players to trade Axies, Lands and items with global players.

3. Technical infrastructure

An overview of the overall Axie Infinity architecture is shown below:

Figure: The Axie infinity architecture.

Axies, Lands, and other in-game items are NFTs currently deployed on Loom Network and will be migrated to the platform's Ronin sidechain to scale the technical infrastructure. Ronin is an application-specific sidechain specifically designed for Axie Infinity and is currently in testnet.

Full migration of NFTs is expected to happen early in 2021 before a mainstream release of the game.

4. Token sales and economics

4.1 Token allocation

4.2 Token sales data

4.3 Token governance and use of funds

As of writing, The Axie team has used funds raised according to the allocations below:

• 85% Development expenses
• 10% Administrative costs
• 5% Business development & marketing

All funds are held in a multi-sig cold wallet controlled by the core team. All movements of fund require at least 2 out of 3 signatures from top management team.

AXS token supply distribution (%)

AXS token release schedule

4.4 AXS token overview and use-cases

The AXS token has the following use cases:

• Governance: AXS token holders will be able to stake their tokens and participate in governance votes.
• Staking: Players will be able to stake their AXS to earn weekly rewards.
• Payment: Players can use the AXS token to play games and conduct payments.

Players will be able to earn AXS tokens when they play various games within the Axie Infinity universe and through user-generated content initiatives.

In early 2021, players will be able to stake AXS tokens for rewards. The amount of AXS tokens a player receives as rewards depends on whether he/she has played the game and participated in governance voting over a period of time. All distributed rewards will be locked in a smart contract for 1 year.

The Community Treasury will be launched after staking features are implemented, and will receive revenues generated by Axie Infinity as well as a portion of staking rewards. This treasury will be governed by AXS stakers when the network has become sufficiently decentralized.

5. Project team

6. Roadmap, updates, and business development

6.1 Original roadmap and achievements

6.2 Updated roadmap

2020 Q4

• Start of the migration for Lands and items to Ronin.

2021

• Start of the migration for Axies to Ronin.
• Launch of Axie Battle beta.
• Launch of Land Gameplay Community Alpha.
• Launch of Staking Dashboard and enable staking rewards, decentralized governance, and Play to Earn for AXS.
• Release of Axie Infinity on iOS and Android.

2022

• Release of Lunacia SDK alpha.

6.3 Commercial partnerships and business development progress

• MakerDAO: MakerDAO is a decentralized stablecoin issurance platform. Axie Infinity partnered with MakerDAO for in-game DAI reward distribution.
• Samsung: Samsung is a South Korean tech conglomerate. Axie Infinity partnered with Samsung as a key dApp partner for integrating the Samsung Blockchain Platform SDK. The Axie Infinity game is currently available in the Samsung wallet.
• Kyber Network: Kyber Network is an on-chain liquidity protocol. Axie Infinity integrated with Kyber Network for meta-transaction token swaps during the Land sale in early 2019.

7. Axie infinity's activity and community overview

Axie Infinity will initially focus its community development efforts on the global English-speaking audience, and gradually add support for other languages as the project develops.

7.1 Social activity

Current community growth strategies of Axie Infinity include:

• Actively engaging with the community via social channels (primarily Discord).
• Regularly updating the community on development progress.
• Working 1-on-1 with key community members to encourage them to create content and attract new players to the community.
• Attracting collectors and institutional investors to purchase and own Axie game assets.

Future community growth strategies of Axie Infinity include:

• Conducting referral programs to attract new players.
• Collaborating with famous artists to create new Axies and in-game assets.
• Partnering with mainstream streamers that are interested in blockchain.
• Working with well-known brands in crypto and gaming through integrations and strategic initiatives.

Community and social channels (data as of October 26th 2020)

Telegram | 1.0K Members
Discord | 11.8K Members
Facebook (Axie Infinity) | 1.4K Followers
Twitter (Axie Infinity) | 12.7K Followers
Blog | 683 Followers
Substack | 33K Subscribers

7.2 Onchain activity

A comprehensive list of Axie Infinity's onchain ecosystem data can be found here.

8. Appendix

• Whitepaper
• Mystic Axies: Jewels For A Digital Age
• Axie Infinity Youtube channel
• The NFT Game That Makes Cents for Filipinos During COVID
• Frequently asked questions

8.1 Advisors

• Hashed
• Delphi Digital
• Eddie Lee (Senior Security Researcher at Blackwing Intelligence.)
• Sebastien Borget (COO and Co-Founder at The Sandbox.)