The wallet holding more than 22 billion of Axie Infinity’s total supply of in-game token Smooth Love Potion (SLP) has been identified as an address belonging to Binance.
Michael Benko, a player for Axie Infinity and tech co-founder, first raised concerns about the impact that having over 50% of total SLP’s circulating supply in one wallet could potentially have on their game ecosystem.
Axie Infinity co-founder Jeff Zirlin confirmed on Twitter that this address is a “Binance Ronin gateway contract,
The co-founder and CEO of Sky Mavis have confirmed that the wallet did not belong to them.
Zirlin finally ended this matter as he noted, “let’s move on — thank you guys for helping clear up the information around these issues. It is indeed the Binance Ronin gateway contract.”
When asked about his experience with Zirlin, Benko said that he finally received answers while also having an open line of communication.
When Benko first reached out to Sky Mavis and others for an explanation, he got no luck until he exposed the wallet to the media.
Binance is a cryptocurrency exchange that has provided various bridges to the Axie Infinity ecosystem. It allows users to withdraw assets from the game and deposit them into an account on its platform.
The company has been working with Axie since they provided assistance after the Ronin Bridge went down following their $600 million hack in March.
AXS Price Analysis
Axie Infinity is currently priced at $13.99, down 2% in the last 24 hours. It is down 5% in the past week and 23% in the previous month.
What Is Axie Infinity?
Axie Infinity is a decentralized game built on the Ethereum blockchain that allows players to collect, raise, and battle pet creatures called Axies. Each Axie has unique characteristics, stats, and abilities that can be used in the battle against other players. In addition to collecting and battling, players can also breed new Axies by combining two existing ones. The game also features a marketplace where players can buy, sell, or trade Axies and other in-game items.
Axie is more than just a game – it’s a community-driven project with a passionate team of developers, artists, and musicians working to create an ever-evolving world for players to explore. The game is constantly expanding, with new features and content regularly added. Whether you’re a seasoned collector or just getting started, there’s something for everyone in Axie Infinity!
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)