AXS is the governance token of Axie Infinity with each token representing a little slice (shard) of the Axie universe. Available to purchase on many exchanges including Sky Mavis’s on DEX Katana, winning tournaments or by placing in the top 1000 on the leaderboard for the PVP Battle Arena during the season (please check https://axie.substack.com/ or the Axie Infinity socials to see when the next season begins).
Staking allows long-term crypto holders a way of making their assets (Tokens) work for them by locking up their tokens via the AXS Staking dashboard, which then generates rewards rather than sitting idle in their wallets doing nothing.
In the future, staking AXS will give you voting rights and a say over the use of the community treasury (which now holds over a billion dollars in tokens).
How do I stake my AXS?
Please note that to use this guide you will need a Ronin wallet and AXS token/s
Go to the staking page here: https://stake.axieinfinity.com/
Connect your Ronin wallet, using either of the two buttons located on the page to do so.
Then click on the stake button within the “My AXS Staking “ section.
The staking popup will appear. You will then need to enter the amount you would like to stake in the amount field. You can also click on “Max” if you would like to stake all the AXS you hold.
Click on Stake.
A Ronin popup will appear, click confirm.
It can sometimes take a couple of minutes before the transaction is confirmed in the blockchain. If you’re wanting to check, you can click on your Ronin Wallet and click on “Activities” to see the transaction’s status or by looking up the transaction in the Ronin Explorer.
Once the transaction has completed, you’ll see it reflected under “Total Staked”.
You now have some AXS staked, now what?
There are a couple of options you have when it comes to your staking rewards, claiming and restaking.
Claim: this option is when the total rewards will go to your wallet. They are immediately usable for anything you would like to do like swapping on Katana or using them for breeding.
Restake: this option is when you claim your rewards and instantly stake them. That means more stake in the treasury and more future rewards!
As you will see each time you claim rewards (Claim or Restaking), you’ll need to wait 24 hours before you can do another claim or restake.