Sunsetting Axie Infinity NFTX Vaults
Today we are announcing the slow phasing out of the Axie Infinity vaults as they are set in redeem-only mode.
Today we are announcing that we are slowly phasing out the Axie Infinity vaults on Ethereum while the vaults are set in redeem-only mode.
- Axie NFTs by Sky Mavis are moving over to the Ronin sidechain to increase game performance
- Original Axie NFT contracts on Ethereum are paused for trading/transfers (not to be enabled again)
- Axie NFTX Vaults are set to redeem-only
There are three Axie NFT vaults on the NFTX platform with a combined total of 52 Axie’s (at the time of writing).
- Axie-Origin (42)
- Axie-Mystic-1 (8)
- Axie-Mystic-2 (2)
These Axie vaults were part of the original community raise where NFT owners were able to swap their NFTs or ETH in exchange for NFTX tokens, and it was this process that allowed us to build the impressive vaults we currently have.
Why the change?
The team behind Axie Infinity has decided to move over to the Ronin sidechain, which has been built specifically for Axie Infinity. The benefits for Axie Infinity include
- No need to conform their game to the Ethereum chain as they control the development of the Ronin sidechain
- Transactions will be faster and cheaper on the sidechain
The downside for Axie holders that use the NFTs outside the game — like selling on OpenSea or minting to NFTX — is that the Ethereum Axie contracts have been paused and you are no longer able to transfer, breed, or grow your Axie’s until you migrate them over to the Ronin sidechain.
I own some Axie-x ERC20 tokens, what can I do?
You can still trade them on a DEX like SushiSwap, or you can head over to the redeeming feature on NFTX and use them to redeem a random Axie from inside the vaults.
Once you redeem the Axie from the vault you will no longer be able to mint it back into the vault, nor can you sell/exchange it on OpenSea. Your next steps will be to go through the process of getting it moved over to the Ronin sidechain (although that is outside the scope of this post).
With V2 of the NFTX protocol coming up it is unlikely that we will be migrating the Axie vaults across, however, the current protocol will remain and you will be able to redeem your Axie’s even after NFTX V2 is released.
Will there be an Axie Ronin vault in the future?
Anything is possible, but at the moment it appears as though it’s low on the priority list for the Axie Infinity team and it isn’t currently on the NFTX roadmap.