Key Points

• Axie by the Numbers: What. A. Year. Lunacia’s 2024 looks like a steady staircase marching up and to the right. In Part 1 of this Address, we’ll shine a light on a few metrics including game DAA, Mystic Axie floor price, treasury revenue, and more.
• A Year of Relentless Shipping: The past year was packed with milestones that reshaped the Axie economy. Bounty Boards. Wings of Nightmare. Delegation. Governance. Countless game updates. Part 2 of this Address covers these key moments.
• What’s Cooking for 2025: There’s only so much we can say right now. We’re consolidating our forces. Loading new artillery. Look to our channels for a major update in Q1. We will call on each and every Lunacian to rise up together once again. In 2025, we ride.

Seven years ago, a ragtag band of missionaries gave rise to the nation of Lunacia. A nation with a vision for digital ownership, dedicated to making Web3 gaming as fun and accessible as possible.

Today, we stand on the edge of that nation’s ever-growing borders with a fresh sparkle in our eyes. We’re ready for a new year. A new adventure. Our victories over the past twelve months have put us in a strong position to take flight again, together.

Bounty Boards were born. SLP became deflationary. Metrics shot up and to the right. Let’s talk about why:

Part 1: Axie by the Numbers

The Axie ecosystem has seen sustained growth over the past 365 days. Game DAA and MAA saw steady increases as Bounty Board participants grew month-over-month.

App.axie trading volume surpassed $30M USD in 2024, with a surge driven by Coinbase’s Learn and Earn Campaign.

The Premier Bounty Board and Wings of Nightmare releases fuelled the continuation of this trend through H2.

The Axie Treasury also grew by $4M USD, averaging over $330K in revenue per month. A good chunk of this volume came from the Wings of Nightmare event in November.

The SLP Stability Fund’s monetary policies also resulted in an annualized deflation rate of 0.57%, which means more tokens were burned than emitted in 2024.

AXS even became THE top gaming token, joining the Coinbase 50 Index with other top tokens beyond gaming.

It was a good year to be a Lunacian.

Mystic Axies: the Ronin Jewel

Over the past year, Mystic axie holders received a firehose of benefits including Whitelist access to major Ronin launches, a steady stream of Fortune Slips, access to the Premier Bounty Board, a high Axie Score bonus, in-game discounts, and more. During that time, demand for Mystic axies also increased: in January, floor price sat at 4.4 ETH when ETH was around $2.3K USD and rose to 5.5 ETH by the end of the year. It’s no secret that Mystic axies are the most-coveted collectible in Lunacia. At this point, holding one is becoming a statement that says, “I made it.”

Part 2: A Year of Relentless Shipping

In hindsight, Lunacia’s 2024 looks like a stable staircase marching up and to the right. However, the year was packed with milestones that reshaped the Axie economy.

For example, Bounty Boards established new ways for the most devoted missionaries to earn rewards. Wings of Nightmare introduced an entire new collection of axies, driving a renewed interest in burning and breeding. The SLP Monetary Policy also became a mechanism to manage SLP-related costs for players.

These key moments attracted new and returning players to Axie. In this section, we’ll zoom into that:

App.axie: Wings of Nightmare, Bounty Boards, Delegation, and Governance

“All of Axie, Together.” That was the headline we used in 2022 after upgrading our marketplace to a full-fledged app and website of its own. Looking back on 2024, we’ve stayed true to that mission and even delivered a few long-awaited features. Here’s a recap:

Wings of Nightmare

Wings of Nightmare went LIVE in November of last year. This was Axie Core’s biggest release since Part Evolution, where 24 base parts became evolvable into brand new Nightmare collectible parts. That meant fresh parts entered the arenas, new axies hit the marketplace, and the axie economy got a huge shot in the arm. We even saw 12K AXS flow into the Axie Treasury within 14 days of launch!

Play-to-Rice and Bounty Boards 🍚

At the beginning of the year, we challenged ourselves to reimagine the ways our community earned rewards. How could we honor dedicated Lunacians beyond in-game leaderboard rewards, AXS staking rewards, and Axie Experience Points (AXP)? The answer: Bounty Boards.

The first Bounty Board launched in April, and started as a questing system that rewarded good Lunacian habits. Complete bounties, earn rewards. The initial 10K AXS weekly prize pool was a hit, so we doubled down and launched a secondPremier Bounty Board stacked with new challenges. Today, thousands of players earn AXS through these Bounty Boards every week — all through App.axie.