Axie Infinity plans to gradually achieve decentralization through three phases

On March 25, Axie Infinity issued a document stating that due to the large number of unsolved technical and social governance challenges, handing over treasury funds to community management may cause damage to the project.

Accordingly, Axie Infinity released a decentralized governance roadmap:

Phase 1: Product-Market Fit

The SkyMavis team manages product development and makes key product decisions based on community feedback and input.

AXS tokens are issued through AXS staking according to the staking schedule.

AXS tokens are issued strategically through in-game reward distribution.

SkyMavis manages the Ecosystem Fund to fund early experiments around the grant program.

SkyMavis began to form committees around key themes such as game balance, economic balance, and cultural development.

Community Treasury Dormant

Conduct governance experiments (eg, trial voting, unconstrained referendums, etc.).

Measure various voting systems

SkyMavis will research and explore business directions around Axies.

An Axie game with more than 10 million DAUs and an average weekly growth rate of 5% for 8 out of 6 consecutive months or 12 months.

Outside of the core SkyMavis team, at least 3 external teams are building games with over 100,000 DAU on top of Axie Infinity.

If these requirements cannot be met by the end of 2023, SkyMavis will lead the formation of a steering committee or similar tool to discuss the way forward.

Stage Two: Growth Stage

Key product decisions are made through on-chain governance processes.

AXS tokens are issued through AXS staking according to the staking schedule.

SkyMavis manages the Ecosystem Fund through community soft voting. The fund is used for investments and grants to build important commodities, products and educational tools for the Axie ecosystem.

Phase 3: Community Governance and Ownership

The on-chain governance process around product adjustments and community treasury management is initiated.

The additional issuance of AXS tokens will not put pressure on the economy. The tokens issued by the game are used up and need to be replenished through the distribution of the Treasury and sponsors.

The Ecosystem Fund is fully deployed.

Game distribution allocations are entirely allocated to the community.

Proposals related to the community treasury are open to the community.

Draft the Axie Constitution.

Other messages are distilled as follows:

1. Incredible community growth of Axie over the past year, a massively growing asset pool (worth over $1B)

2. There will be some measures related to AXS tokens in the future: supplementing token staking rewards, reducing the long-term total supply of AXS (ie burning AXS), game distribution or ecosystem funds, investing in new activities/plans to improve the overall community experience, carry out strategic projects

3. The indicator of the process of progressive decentralization is “product-market fit”, a measure of product-market fit is at least 5% weekly growth. Despite a period of high growth, we have so far not seen a long-term sustainable growth rate of 5% per week.

4. Possibly implement “Axie Score” as a modifier for weight voting. In addition to the amount of AXS ownership, it is also allowed to consider a person’s contribution to the ecosystem. A non-transferable badge system is currently under consideration that would allow us to work with the community to build a robust system around this.

5. Secondary voting may be required: Secondary voting is a system in which voters have limited voting rights and must use this power wisely. For example, staking AXS may result in non-transferable voting rights accruing to stakers over time, and when used to influence the outcome of proposals, voting rights will be burned. This creates market dynamics around voting.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/axie-infinity-plans-to-gradually-achieve-decentralization-through-three-phases/
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