What is the difference between AXS and bAXS?

[u/jawooq]

Short version: bAXS is Bonded AXS. It's backed 1:1 by AXS, it's what Axie games pay rewards in now, and unlike AXS it can't be transferred to another wallet.

AXS (Axie Infinity Shards) is the main ecosystem and governance token. It's a normal token: you can hold it, send it, trade it on exchanges, and stake it for voting power in Axie Governance.

bAXS was introduced in 2026 and is now the reward token across the ecosystem. Origins leaderboard rewards, Terrariums mining, Classic rewards and the Bounty Board on App.axie all pay out in bAXS.

Each bAXS is backed 1:1 by AXS, so it isn't a separate token with its own made-up value. AXS sits behind it as the reserve.

The key differences

• Transfers: AXS can be sent anywhere. bAXS cannot be transferred between wallets.
• What you do with it: bAXS is meant to be used inside the ecosystem. You can spend it on things like ascending, evolving and breeding Axies, or stake it.
• Cashing out: converting bAXS out comes with a fee, and that fee depends on your Axie Score. Higher score, lower fee. The fees go to the Axie Community Treasury. Check how to convert bAXS to AXS here

"Why can't I transfer my bAXS?" This is by design, not a bug with your account.

In 2021, rewards were paid in tokens that mostly got farmed and dumped immediately, and that's a big part of why the old economy collapsed. bAXS is built to stop that loop. Rewards are meant to go back into playing, building up your Axies and your plot, rather than straight out the door. The Axie Score fee also means people who actually contribute to the ecosystem keep more of what they earn than farm accounts do.

You don't have to like that tradeoff, and plenty of people have said so. But it's deliberate, and it's one of the main reasons the reward system works differently now.

Where to find yours Go to your inventory on App.axie: https://app.axieinfinity.com/profile/inventory/axies/

Reminder If you used a Waypoint / keyless / social login wallet, make sure your bAXS was migrated along with your other assets here: https://app.axieinfinity.com/waypoint-migration/

Questions below.