vEmpire Announces The Closure Of Their AXS Staking Pool
After taking into careful consideration the current state of the market, and the poor performance of the Axie Infinity token economy, we have decided to close our AXS staking pool.
Although this decision was tough to make, as it was one of our genesis pools, we believe that as it currently stands, the Axie Infinity game is in a state that is make it increasingly hard for their users to profit from it, therefore limiting the rewards we are able to pass onto our AXS stakers.
In particular, SLP has suffered greatly from the market conditions, and there does not yet seem to be a viable solution to stabilise the price and give the Axie Infinity players a worthwhile income stream from playing the game.
For those that contribute to our AXS staking pools, everything is okay! Your funds are safe and you can withdraw the entirety of your AXS funds when you have the opportunity to do so. We’ve also waived the new withdrawal burning or lock-up mechanic for all AXS withdraws for the time being.
If you do not withdraw, your funds are still safe however they will stop receiving rewards, paid in AXS, SLP and VEMP, so we recommend that you withdraw as soon as possible.
For our scholars and guild members, not much changes. They will continue to play Axie Infinity with vEmpire-owned assets. However now we will only be redirecting profits back to the DDAO.
But, as one staking pool comes to the end of its life (for now) another will soon be introduced to provide our investors with yet another opportunity to build exposure to and earn passive income from another promising protocol. We’re happy to announce that by the end of June our Star Atlas $ATLAS staking pool will be complete!
This news is gigantic as it will enable our investors to soon access one of the best investment opportunities on an entirely new network — Solana — which is poised to be one of the most promising networks for play-to-earn games! Watch this space.
For those currently staking AXS but do not know how to withdraw, then please check out a previous guide that we made showing you how to do so. Please note that while this guide was for another strategy the unstaking process is exactly the same. You can view this guide here.
We appreciate your understanding,
The vEmpire Team ❤️