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.