Axie Infinity Price Surges Over 20% on bAXS Airdrop Announcement

The bAXS token is a non-tradeable, in-game utility token backed 1:1 by AXS. It is intended to be used for evolving Axies, making in-game purchases, and acquiring consumables within the Axie Infinity universe. This design encourages long-term staking and engagement, aligning token utility with the broader goals of the game's economy.

The first bAXS airdrop was distributed based on the amount of AXS staked and the Axie Score of qualifying wallets. The second airdrop is tied to staking the first allocation, creating a compounding incentive for participants to hold and use bAXS within the ecosystem. This two-tier structure aims to boost staking rates and reduce the circulating supply of AXS, potentially stabilizing its value.