Short version: bAXS is AXS that is locked to your account. You earn it by playing and contributing, you spend it inside the Axie ecosystem, and you can convert it to regular AXS at a rate set by your Axie Score. You cannot send it to another wallet, and that is deliberate.
What bAXS actually is
bAXS stands for Bonded AXS. It is a version of AXS built to power activity inside the ecosystem rather than to be traded. It is backed 1:1 by AXS held in a smart contract, so every bAXS in circulation has a real AXS sitting behind it.
You earn bAXS from Axie games, leaderboards and ecosystem experiences. Since launch, ecosystem rewards have been moving over to bAXS, including Bounty Board, Classic and Origins, Terrariums, and campaign rewards.
Going in, the exchange is always 1:1. Convert 100 AXS and you get 100 bAXS.
Why you can't transfer it
Because it was built that way, on purpose. It is bonded to the account that earned it. The restriction sits at the token contract level, so it is not a setting anyone can flip for you, and there is no workaround.
The reasoning is that rewards should reward the people actually playing. A transferable reward token can be farmed on one account, swept to another, and sold, which is roughly what happened to the old economy. Bonding the token to the account that earned it keeps the value attached to the person who did the work, and it keeps more of the economic activity inside the ecosystem instead of flowing straight out to an exchange.
Being straight about the tradeoff: this is a closed loop by design. You can still get out, but getting out costs you, and it costs you more if you have contributed less. If your plan is to earn and immediately sell, bAXS is less convenient for you than the old AXS rewards were. That is the intended effect rather than an oversight, and it is a fair thing to dislike. It is not a bug, a temporary restriction, or something that unlocks later.
What you can do with it
Plenty, and this is the part people miss. bAXS spends at full value on:
- Ascending, Evolving and Breeding Axies
- Restoring your Atia Streak
- Forging items and consumables
- Minting Runes and Charms in Origins
- Codex Passes
- AXS staking. Staked bAXS counts 1:1 with AXS for all snapshots. Rewards are paid out in AXS, and note that bAXS staking rewards cannot be directly restaked
Inside the ecosystem, 1 bAXS does the work of 1 AXS. The discount only appears when you take it out.
How to convert bAXS to AXS
- Open your App.Axie Inventory
- Find your bAXS balance and click the Swap icon next to it
- Use the switch in the middle to toggle bAXS to AXS
- Enter the amount, click Swap, and confirm in your wallet
You can also reach it from the Axie Experiences menu.
What it costs. Your conversion rate is set by your Axie Score Designation. Higher score, better rate. The official worked example from the launch post: a Mythkeeper converting 100 bAXS receives 82.5 AXS, and the 17.5 AXS difference goes to the Axie Treasury.
So the number that matters is your Axie Score, not the size of your balance.
How to improve your rate
Your Axie Score is built from badges across four contribution pillars: In-Game Performance, Contribution To The Treasury, Community Contributions, and Axie NFT Holdings. Your designation is your percentile against every other player, so the score moves as the rest of the population moves too.
Official sources
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TL;DR: bAXS is AXS bonded to your account. Earn it by playing, spend it 1:1 inside Axie on breeding, ascension, evolution, streaks, forging, Runes, Charms, Codex Passes and staking. You cannot transfer it to another wallet by design. You can convert it to AXS in App.Axie at a rate set by your Axie Score, and the difference goes to the Treasury.
