Axie Infinity


Axie Infinity is a play-to-earn blockchain-based game in which users collect digital pets, and use them to battle, explore and breed. Players are rewarded with in-game assets and tokens that can be exchanged for real money.

Risk Rating
Protocol Code Quality
Protocol Maturity
Protocol Design
What we like
Axie Infinity is the top decentralized blockchain-based game that serves as the on-ramp into crypto for hundreds of thousands of users.
What we like less
The protocol's poor risk management led to a core team member's computer being exploited. This led to the hack that corrupted the validators securing the Ronin blockchain that Axie runs on.
What it means for you
Offers you a great "play-to-earn" game where you collect, breed, batttle and trade in-game pets called Axies.

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Key Metrics
Risk Assessment
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; Quantstamp audited in April 2021
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Core protocol launched in 2022; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 1% by total value locked reduces risk
  • Core contracts can be upgraded with just an EOA wallet
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • At least one moderate governance issue documented
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
Things to know about Axie Infinity

How Axie Infinity works

Axie Infinity is a non-fungible token (NFT) based distributed video game developed by Sky Mavis. It is currently running on the Ethereum and Ronin networks, using smart contacts to enable users to own, transfer, battle and breed genetically unique digital pets. The game has economic incentives that are made possible by leveraging Ethereum token standards: fungible ERC-20 tokens and non-fungible ERC-721 tokens. The in-game currencies (AXS and SLP) are represented by ERC-20 tokens. The game is primarily a monster-battling game (similar to Pokemon) where you pit teams of monsters called Axies against each other in battles. In-game items are represented by NFTs. Axies and land plots are scarce by design and individually unique. NFTs confer digital ownership to buyers and can be traded on the game's marketplace for real money.

How Axie Infinity makes money

The Axie Infinity ecosystem has generated revenue in ETH from sales of Axies and digital land plots, breeding fees, and marketplace fees. The breeding fee is paid in AXS for breeding Axies. The Axie marketplace charges a 4.25% fee on all sales of Axie NFT assets (Axies land, and land items). All fees and revenue generated by Axie Infinity is sent to the community traesury which is governed by AXS holders.

How you make money on Axie Infinity

You can make money by actively playing the game to earn in-game rewards paid in AXS and SLP. Your Axie NFT assets also have value and can be sold on the marketplace for real money. AXS stakers can earn a portion of staking rewards and protocol revenue.

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