Axie Infinity Launches Non-Profit Foundation for Community Governance

Axie Infinity has launched the Axie Infinity Foundation, a non-profit organization aimed at growing its digital community. Key points include:

  • The Foundation will act as trustee and fiduciary, bound to decisions made through the on-chain governance system.
  • It will allocate assets from the Community Treasury based on community votes.
  • Initial funding for the Foundation's operations will come from Sky Mavis' ecosystem fund, covering at least two years.
  • A separate grant pool will support grassroots initiatives, also governed by community votes.

Governance Structure

  • The Constitution outlines participant roles and power distribution, pending community ratification.
  • The Axie Score measures user contributions; higher scores lead to more governance influence.
  • The Community Treasury holds approximately 23 million AXS, 2,600 ETH, and other assets, with expectations of recovering around 6 million USDC linked to past hacks.

Following the announcement, AXS saw a 110% increase in 24-hour trading volume, trading near $2.40 with a market cap of about $400 million, indicating renewed investor interest.