Axie Infinity Community took AXS, the project’s native token, the first step in evolving the project to a fully decentralized future on December 5, reacted to the news by surging 23.87% over the past 24 hours.
AXS surged to $8.39 on December 5, according to CryptoSlate data. Also, the token he recorded a rise of 29.47% in 7 days. At the time of writing, AXS is trading around $8.17.With this increase, AXS strike AltRank™ 1 out of 4,023 coins on the market.
May 2022, Axie announced What they called “progressive decentralization”. Axie has revealed plans to form a community of members “responsible for resource decisions regarding the Axie Infinity ecosystem.”
It was explained that this community functions like a council, driving the decentralization of Axie by deciding resource allocation and financial activation through on-chain voting.Axie said that:
“The ultimate goal is to give collectives the responsibility of guiding each other to advance the community mission through self-organization.”
On December 5th, the community officially kicked off its pilot season with nearly 700 members. The election was done via his Discord for the project. The new community communicates through a newly created “Governance” section on Axie’s Discord.
Axie said the pilot phase will provide valuable insight into how to make this a “robust and ongoing process,” adding that there will be regular opportunities for other members to join the community in the future. rice field.
Struggle of the Axies
Despite registering an impressive short-term gain, CryptoSlate data show that the current price level of AXS is down 91.65% relative to last year’s level, hitting an all-time high recorded on November 6th. It also shows a 95.02% drop from the value. 2021 years.
The bear market has definitely played a role in this downtrend. However, it is not the only cause.
In March 2022, Axie came under a major attack when attackers stole $615 million from Axie’s Ronin Bridge. This was followed by a bear market, and by July 2022, Axie’s active user count had fallen from his 2.7 million recorded in November 2021 to his 760,000. .