The AXS Staking Program: Still Alive And Kicking !

Axie Infinity has taken the world by storm, but this storm seems to have dwindled a lot. With a still vibrant community and a continuously growing ecosystem, Axie Infinity is nevertheless more alive than ever, and the game's native cryptocurrency, AXS, plays a pivotal role in the entire experience.

I do not play this game anymore but the tokenomics have been holding surprinsigly strong for a couple months, and I decided to dedicate a bit of money into their AXS staking program.

What Midjourney thinks an Axie looks like

The Axie Infinity Shard (AXS) is the native token that fuels the Axie Infinity ecosystem. It serves various purposes, such as governance, in-game rewards, and providing access to exclusive content. AXS is the foundation of the game's thriving economy, and holding the token not only empowers users with governance rights but also allows them to earn passive income through staking.

The AXS Staking Program :

Stakers are rewarded with a 38% APR on their staked AXS tokens. These rewards are distributed in AXS tokens and can be claimed at any time.

To convert a 38% Annual Percentage Rate (APR) to an Annual Percentage Yield (APY), you need to take into account the effect of compounding interest. Assuming daily compounding (restaking daily), you can use the following formula:

APY = (1 + (APR / n)) ^ n - 1

where:

• APR is the annual percentage rate (as a decimal, so 38% is 0.38).
• n is the number of compounding periods per year (in this case, 365 for daily compounding).

Using the formula:

APY = (1 + (0.38 / 365)) ^ 365 - 1 ≈ 1.466 - 1 ≈ 0.466

Converting the result to a percentage, the APY is approximately 46.6%.

Note that this is in no way a financial advice and this project is still a high risk one.

Other than the juicy APY, the token in itself can really go up in value, as it is now less than 10% of it's ATH.