Binance Opens Investment Opportunity for Axie Infinity Shards (AXS)

Axie Infinity Shards (AXS) can become more than the voting asset for the game. Currently, AXS staking is used to generate RON on the Ronin network, or provide liquidity on the Katana decentralized exchange. 

But the Binance exchange, one of the leading hubs of crypto activity, has increased the passive income opportunities for AXS.

.@AxieInfinity $AXS Flexible Savings limited offer: Earn up to 10% APY on #Binance Savings!

Hurry, the quotas are first come, first served.

Learn more ➡️ https://t.co/zd5GuaBeQn pic.twitter.com/q45jAwXEeg

— Binance (@binance) February 16, 2022

The tier structure means users with 1-5 AXS will get the highest interest rate of 10%, while staking more than 20 AXS will grant only 0.4% in APR. Binance may also alter the conditions of deposits and returns based on overall interest and market conditions. 

AXS still has a relatively slim market on Binance, as SLP is the more actively traded asset due to cashing out game rewards.

AXS can also gain passive income on XLD Finance, a decentralized service. This time, AXS is accepted also through the Ronin network, with no need to bridge back to Ethereum. 

Starting from today, #xSpend will be accepting Axie Infinity Shards (on BSC and Ronin) and Matic (on BSC) tokens as payment!

We’re still working on accepting Matic through Polygon—but don’t fret, you won’t have to wait for it for too long! pic.twitter.com/dWjsE7Eo0f

— XLD Finance (@XLDFinance) February 15, 2022

Can AXS Speed Up Recovery

AXS is one of the fastest-recovering assets among play to earn tokens. AXS rose by more than 9% to $64.98 on Wednesday, with some expectations of a breakthrough to a higher range. 

Smooth Love Potion (SLP) stabilized at $0.029, still within the range of the past few days. Less new SLP generation is happening in Season 20 of the game, while SLP can also be absorbed to generate RON.

RON is currently at $2.92, holding up with no significant price swings. In February, RON still has limited listings, relying on the Katana DEX for its main pairing. Due to the size of the Axie game economy, predictions for RON see the token rise to higher valuations if listed on centralized markets. 

Axie Game Changes Multi-Accounting Rules

To avoid leaderboard smurfing, a practice of sharing high-ranked Axies, the game team has set up new rules. It is forbidden to use the same Axies team on multiple accounts, and teams will not be able to claim multiple leaderboard rewards. 

TOS update:

Added under user reps:
(13) you can only qualify for one leaderboard reward each season.

Added under prohibited activities:
– Using the same Axies across multiple accounts to qualify for multiple leaderboard rewards is strictly prohibited.

— Axie Infinity | #AxieOrigins (@AxieInfinity) February 16, 2022

The new rule will potentially lead to sponsors having to build new teams for each scholar added, to avoid sharing Axies.