1. Introduction to AXS Token and Axie Infinity: - AXS is an Ethereum token that powers Axie Infinity, a blockchain-based game allowing players to battle, collect, and build a digital kingdom for their pets. - Holders can claim rewards for staking their tokens, playing the game, and participating in governance.
2. Significant Update and Impact on AXS Token: - A significant update on April 28, 2021, introduced Ronin Bridge, which has become a crucial link in the Axie Infinity ecosystem and largely contributes to the price action of AXS. - The bridge has become the only available option for Axie marketplace, breeding, and morphing contracts.
3. AXS Token Staking and Inflows: - On the Binance Exchange, AXS has the highest earning product in Locked staking with an estimated APY of 131.25%, indicating strong inflows and minor outflows. - Monitoring the most liquid day-to-day endpoints provides an indicator of the success of the staking solution.
4. Token Transfer Triggers and Data Analysis: - Data collected from Token Transfers reveals that there are more transactions to the native staking solution rather than Binance, with the sum of outflows dominating, indicating more incoming users and significant withdrawals from Binance.
5. Comparison of AXS on Ethereum and Binance Smart Chain: - The volume of transactions on Ethereum of AXS is much greater than on Binance Smart Chain, with interesting insights from the score of the addresses in the AXS dataset on Ethereum.