Welcome to the 3rd Axie Infinity news report!!!
Good day! Good Evening! No matter where you live on Earth, WELCOME!
If you have not yet read the previous one, go check it out in this link. It has been a very jam packed month in the realms of Lunacia. Axie Infinity has been put in the spotlight once again! But you might feel lost about these events. So we have decided to collate all the juiciest, meatiest, and most controversial news from announcements as well as tweets from the developers of Axie Infinity.
AXIE BREEDING FEES ADJUSTMENTS
On 23 September 2021, an announcement on the Axie Infinity Discord server was made on regards to the breeding fee adjustments. It said that after 24 hours, breeding fees will be changed wherein AXS required will be reduced to 1 AXS and SLP required will be increased. On the substack article included on the announcement, it is shown that SLP has been doubled.
This news has been regarded positively by most players as it will increase the demand for breeding which directly creates more “Burning” of SLP.
A few weeks before the announcement, the value of SLP kept decreasing due to how quick the token has been created or “minted” so players have been clamoring for more burning mechanisms of SLP. However, the developers have replied that SLP will only be used for breeding Axies. The reply has lowered the morale of many players but it seems that the developers listened to the pleas of the players by adjusting the breeding fees.
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Aside from positive reactions garnered from the players, the news have also created another reaction. SLP made a small step in increasing its value. It went from 0.06$ to 0.09$ in a few hours. Sadly it has also dumped and returned to its previous value after a few hours. We can see two things in this event. First, breeders have bought a lot of SLP which increased its value for a short time.
This means that many players wanted to take the opportunity to breed at a lower fee incase AXS causing SLP to suddenly rise in value. Secondly, speculators bought a lot of SLP to create a profit in case it pumped once again to 0.10$ and above. Sadly, the increase was quickly met by a sell pressure which reduced its value.
For now, only time will tell if this breeding fee adjustment can increase the burning of SLP in the short term. But it seems that the developers wanted to create an AI that could automatically adjust the required SLP and AXS in the future for a more long term goal. This could mean one thing, the price for breeding will be fixed in value of fiat($). Unfortunately, this might take a bit more time to happens as the developers are focused on finishing Axie Infinity Origins or V2 as well as Land Gameplay. But all players are happy and excited for this changes that could happen in the future.
To read more about the Breeding Fee Update check out this link: Breeding Fee Adjustment.
AXS STAKING IS LIVE
After so many months, staking of $AXS has now been started.
On September 30, 2021(*), a tweet from Axie Infinity Twitter has announced about the implementation of the staking. This staking mechanism has been implemented a week after the adjustment of breeding fees. From this news, we can infer that AXS fee was reduced in preparation for staking which could massively increase the value of AXS. Furthermore, it could also be inferred that the developers hope that most AXS will be staked.
If you are wondering why AXS was not reduced entirely to zero, we could only assume that AXS is being used as controlling mechanism to prevent a massive surge of newly bred Axies. This is important to control the value of Axies while “burning” or “releasing” of Axies has not yet been implemented. It has been said by the developers that this releasing mechanism will only be available when Land Gameplay has been released.
Now let us talk about staking.
Staking is a form of yield farming where the token in stored in a “pool”. In the case of Axie, this pool consists of AXS tokens. When the token is stored, the owner will gain free tokens based on the current release rate, APR or annual percentage rate or APY or annual percentage yield. Aside from the rewards, staking is also a step to the goal of decentralization through “governance”. The owners of Axs who staked AXS will have the right to vote over the use of the community treasury.
AXS Staking Dashboard
Staking of AXS sounds complex but the actual process is actually very easy. First, you need AXS in the Ronin Wallet. The player then needs to go to the website for staking: AXS Staking. The ronin wallet is then connected to the staking platform. The player will only have to click the button stake then input the amount. That’s it! Very easy right? Currently the APR is at around 180+%. This will surely decrease over time as more AXS is staked.
For more information about Staking of AXS, follow this link: AXS Staking Guide
Axie Development Chat #2
Just recently, the founders of Axie Infinity, Psycheout and Jihoz has conducted a “Axie Infinity Developer Chat” which was hosted by Zyori. The interview was streamed live on October 4, 2021 at 2pm CEST. The following are the highlights of the said interview:
Daily Average User – It is still increasing but the developers are still targeting a bigger audience. Jihoz has said that the are going to keep on “pushing” to increase the number of players. The increase of DAU is also an indicator that the game is in the ‘right way”.
AXS Staking – According to Psycheout, staking is a “signal” to the market that players trust the game and system. The developer also encourage all AXS holders to stake AXS to earn more AXS rewards. Though Annual Percentage Rate(APR) is still high, it will continue to decrease as the number of AXS staked increase while the reward pool keep on decreasing.
Breeding Fees – Jihoz aims to make breeding fees more predictable. The developer hope that this will increase the number of Axies that will be bred which is necessary for the upcoming number of players.
Ideal price of SLP – The value of SLP will be determined by the “free market”. The value is derived on the demand of Axies.
Axie Crafting – According to Jihoz: “crafting will be really important for axie infinity” in reply to SLP sink/burning mechanism. They have been thinking about crafting since 2018 but he stated that “it cannot be rushed”. He also commented, “Very interesting” to the suggestions from players concerning SLP sinks but it cannot be “rolled out very quickly”.
Growth spurt - Axie Infinity is in uncharted territory. Players need to manage expectations of the gains/earnings and that this has caused a disconnect between old players vs new players.
Land Aspects - 1st aspect: Town(crafting, harvesting, structures); 2nd aspect: Neutral Territory(fight over resources, guilds); 3rd aspect: Opening-up land(mini games) . Progress of the development of Land Gameplay will be shown at the right time. Furthermore, the though process when conceiving the idea of Land gameplay needs to be rechecked due to the sudden increase in players when compared to the number last year.
Leaks: Minimal leaks will be given to preserve the fun and “magic”. This also protect against “low-brow” copied game that will siphon players.
Balance Patches - Energy manipulation is the hardest to balance. Update will be done on season 19.
Ronin Mobile Wallet: Current mobile Ronin wallet available are mostly phishing scams. The official Ronin mobile wallet will be coming soon.
Ethical Concerns: There is a big link between YGG and the founders of Axie Infinity. This has caused some scrutiny from many people. But the developers have emphasized that they want everyone to succeed. The developers also think of the long term development rather than money when using new blockchain technology.
Aside from all that there is also one sneek peek given. It shows a bit of the art used in cards in Axie Infinity V2
Psycheout: Interesting Twitter Battle
“We care about SLP”. One of Axie Infinity’s founder, Aleksander Larsen aka “Psycheout” tweeted about this a few weeks ago as a reply to the increasing concern of SLP value downtrend. He has stated the problem concerning the “imbalance” between AXS as well as SLP which is a requirement for breeding new Axies. Furthermore, he emphasized the team’s long term goal of sustainability.
While the tweet has garnered the support of most players, it has also triggered the ire of some players. Some were angry due to the ever increasing price of AXS despite the decreasing value of SLP. At the same time, some players have tried to express their sentiments concerning transparency about the progress of the game.
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Unfortunately, these sentiments were not taken well by the founder which led to him venting on the said players. It has also created a domino effect where some players gave up on Axie Infinity by selling their Axies.
Despite of the presence of these clash of ideas in the social media platforms, we are also encourage by the fact that the developers are trying to reach out to the players. We just hope that the words of the developers won’t be twisted and misunderstood by the players. The good news is that the content creators in youtube has resolved this misunderstandings after a couple of videos.
Well there you have it!
We hope that you have enjoyed yet another report of WHAT’S BUZZING IN LUNACIA! We are now saying goodbye for the meantime as we collect more news on the latest events in Lunacia. Be sure to stay tuned for our next update!
Keep Calm and Keep on BUZZING!
