{"id":3237,"date":"2021-10-21T16:30:14","date_gmt":"2021-10-21T08:30:14","guid":{"rendered":"https:\/\/blog.btse.com\/?p=3237"},"modified":"2023-03-09T04:10:17","modified_gmt":"2023-03-09T04:10:17","slug":"btse-lists-five-tokens-axs-chz-dydx-enj-and-sand","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/btse-lists-five-tokens-axs-chz-dydx-enj-and-sand\/","title":{"rendered":"BTSE Lists Five Tokens: AXS, CHZ, DYDX, ENJ, and SAND"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">BTSE welcomes five ERC-20 tokens onto the exchange, part of its commitment to growing the range of quality digital assets available to traders.<\/span><\/i><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Axie Infinity (AXS)<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Chiliz (CHZ)<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>dYdX Token (DYDX)<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enjin Coin (ENJ)<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Sandbox (SAND)<br \/>\n<\/b><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h2><b>1. Axie Infinity (AXS)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">NFT games have become popular in the GameFi world as a means to earn income recently, thanks to play-to-earn games like Axie Infinity. By listing AXS, Axie Infinity\u2019s governance token, BTSE adds further depth and dimension to the market for its users.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>Axie Infinity and AXS Token<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Axie Infinity, simply put, is like a Pok<\/span><span style=\"font-weight: 400;\">\u00e9<\/span><span style=\"font-weight: 400;\">mon game built on Ethereum. It allows players to collect, breed, raise, battle, and trade creatures known as \u201cAxies\u201d, which are digitized as NFTs. Players can obtain AXS through in-game missions and battles with other players.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The play-to-earn business model &#8212; one of the latest developments in the gaming industry, especially in NFT games &#8212; allows players to earn NFTs or tokens in games and transfer them to fiat for use in daily life. Since the Covid-19 lockdowns started in 2020, playing Axie Infinity to earn rewards became the main source of income for many players around the world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AXS token has four main functions:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Governance<\/b><span style=\"font-weight: 400;\">: By staking AXS, holders can vote on the platform\u2019s operations, making their voices heard.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Staking<\/b><span style=\"font-weight: 400;\">: Axie Infinity\u2019s staking program, launched in September 2021, allows AXS holders to claim rewards by staking on the platform. The annual percentage yield (APY) was initially around 400%. But as more AXS was staked, the APY began to decrease to around 129% now (as of Oct 21, 2021).<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Payment<\/b><span style=\"font-weight: 400;\">: AXS is accepted as a currency in Axie Infinity\u2019s in-game purchase, as well as in its NFT marketplace for players to obtain new Axies.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Trade<\/b><span style=\"font-weight: 400;\">: As exchanges such as <\/span><a href=\"https:\/\/www.btse.com\/en\/home\/\"><span style=\"font-weight: 400;\">BTSE<\/span><\/a><span style=\"font-weight: 400;\">, Binance, and FTX have listed the token, AXS can be traded on these secondary markets for non-gamers to get involved in the hype.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The price of AXS surged by over 130% in the past month. At $127.26 on October 21, 2021, it had a market cap of $7.8 billion and 0.29% market cap dominance, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/axie-infinity\"><span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">. Its circulating supply is around 61 million tokens out of a maximum of 270 million.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>2. Chiliz (CHZ)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Chiliz (CHZ) is an ERC-20 token utilized in the world of entertainment and sports enthusiasts, being the official cryptocurrency of the Socios.com fan influence and rewards platform.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>What is Chiliz?\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The developers of Chiliz aim to bring sports teams and their most passionate fans closer together to change what they currently see as a passive connection between them. The goal is to provide millions of esports and sports fans with a token they can use to purchase direct voting allocations and participate in the decision-making processes of their preferred teams. Supporters become not just passive observers, but also engaged members of the club.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chiliz partners with some of the top esports or sports teams and associations, such as FC Barcelona, Arsenal FC, L.A. Lakers, Boston Celtics and the UFC, among others. The sports range from basketball and tennis to football (soccer) and motorsport. Its growing involvement in major football leagues in Europe is introducing a large number of football supporters to cryptocurrencies &#8212; another strong driver for adoption.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>CHZ Token and Use Cases\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Other than for trading on exchanges, CHZ can be used for entertainment and sports, like purchasing team-themed NFTs. Its primary purpose, however, is for purchasing fan tokens, which provide voting power when teams request fan feedback through the Socios.com app.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chiliz allows supporters other ways to engage with their favorite teams. Using CHZ, the platform creates a unique participatory experience for sports fans through membership rewards, VIP events, and fan voting. Supporters can have a say in how they want their favorite clubs to be run; they are also rewarded, thus more motivated, to vote on certain decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chiliz token (CHZ), at $0.328 on October 21, has a market cap of more than $1.7 billion and 0.06% market cap dominance, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/chiliz\"><span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">. Its circulating supply is around 5.3 billion tokens out of a maximum supply of about 8.8 billion CHZ tokens.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>3. dYdX Token (DYDX)\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The dYdX token governs the dYdX exchange, an Ethereum-based decentralized exchange that allows users to trade cryptocurrency perpetual contracts, margin, and spot trading.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>What is dYdX Exchange?\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The dYdX exchange utilizes smart contracts to eliminate the need for intermediaries in completing trades. It is a leading decentralized exchange (DEX) in terms of liquidity, volume, and other parameters; its trading volume recently surpassed that of Coinbase and Uniswap.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its users can trade ETH perpetual contracts with up to 25x leverage using the Layer-2 solution for transactions and reduced gas fees. Spot and margin trading features are available on dYdX, and users can also borrow and lend cryptocurrencies from and to the dYdX protocol.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">dYdX was founded in 2017 by Antonio Juliana, a former Coinbase engineer, and is backed by notable firms such as Andreessen Horowitz, Polychain Capital and Three Arrows Capital, among others.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>DYDX Token and Use Cases\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">DYDX is the governance token of the dYdX exchange and allows token holders to make key decisions guiding the dYdX protocol, such as rewards, trading features, and others. dYdX token holders benefit from discounts on trading fees while carrying out transactions on the exchange. They can also stake their tokens in the Safety Module pool to earn additional rewards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dYdX token, at $20.19 on October 21, has a market cap of more than $1.1 billion and 0.04% market cap dominance, according to <\/span><a href=\"http:\/\/www.coingecko.com\/en\/coins\/dydx\"><span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">. Its circulating supply is around 56 million tokens out of a maximum supply of about 1 billion dYdX tokens. The recent surge in price can be attributed to traders\u2019 increased interest in DEXes following China\u2019s recent crypto ban.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>4. Enjin Coin (ENJ)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">ENJ is an Ethereum-based cryptocurrency used to back the value of next-generation fungibles and non-fungible tokens (NFTs) on Enjin, a leading NFT platform.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As NFTs and the projects around them have become popular this year, BTSE joins a growing list of exchanges that have listed ENJ, providing its users with more diverse token selections.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>Enjin and ENJ\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Enjin was founded in 2009, providing an ecosystem for users to create, distribute, purchase and integrate NFTs. It aims to make NFTs easy and accessible for individuals, while enabling businesses and brands to launch their NFT projects with Enjin\u2019s end-to-end solution.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Game developers can tokenize in-game items on the Ethereum blockchain by using Enjin. These digital assets issued through Enjin are backed by Enjin Coin (ENJ) and can be traded with real-world value. NFT owners can also melt NFTs back into ENJ anytime. Therefore, unlike other digital assets, NFTs backed by ENJ ensure their transparency and scarcity as ENJ is a limited resource in the ecosystem.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enjin describes ENJ as \u201cthe gold standard for digital assets\u201d, highlighting its attributes of anti-inflation, tangibility, and trust. Listing ENJ on BTSE enables users to access the opportunities from the recent NFT hype and the growing NFT industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At $1.83 on Oct 21, 2021, ENJ has a market cap of $1.7 billion and 0.06% of market cap dominance, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/enjin-coin\"><span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">. Its circulating supply is around 934 million tokens out of a maximum supply of 1 billion ENJ tokens.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>5. The Sandbox (SAND)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SAND, the native token of the Sandbox virtual world, is an ERC-20 utility token utilized by players, content providers, and traders alike.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>What is The Sandbox?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Sandbox is a peer-driven ecosystem where producers can use the blockchain to monetize voxel gaming experiences and assets. (A <\/span><a href=\"https:\/\/whatis.techtarget.com\/definition\/voxel#:~:text=A%20voxel%20is%20a%20unit,position%2C%20color%2C%20and%20density.\"><span style=\"font-weight: 400;\">voxel<\/span><\/a><span style=\"font-weight: 400;\"> is a data point defined in three-dimensional space.) SAND is exchangeable, modular and interchangeable, and powers the Sandbox game&#8217;s metaverse.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Sandbox is a distinctive decentralized digital space where participants can create, possess and commercialize their gameplay experience via SAND and NFTs.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>SAND and Use Cases<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">SAND token has several applications, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><b>A form of money in the Sandbox ecosystem<\/b><\/span><span style=\"font-weight: 400;\">: <\/span><span style=\"font-weight: 400;\">Users can earn SAND via gaming and use it to participate in gaming activities, such as buying equipment or personalizing their avatar identities. It may be used to purchase virtual land and assets from creators. Artists can purchase gems to define item scarcity and use SAND to publish assets onto the platform.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Governance Token<\/b><span style=\"font-weight: 400;\">:\u00a0<\/span><span style=\"font-weight: 400;\">SAND enables its holders to vote on governance issues. They can participate by themselves or assign voting privileges to other people.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Staking and incentives<\/b><span style=\"font-weight: 400;\">: <\/span><span style=\"font-weight: 400;\">Players can bet with SAND tokens, as well as catalysts AND gems, to gain incentives and create assets.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">SAND was priced at $0.77 on October 21, 2021, with a market cap of more than $694 million and 0.03% market cap dominance, according to<\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/the-sandbox\"> <span style=\"font-weight: 400;\">CoinGecko<\/span><\/a><span style=\"font-weight: 400;\">. Its circulating supply is more than 890 million tokens out of a maximum of 3 billion.<\/span><\/p>\n<p>&nbsp;<\/p>\n<div>\n<hr \/>\n<\/div>\n<p><em>Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0feedback@btse.com or on Twitter @BTSE_Official.<\/em><\/p>\n<p><em>Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BTSE welcomes five ERC-20 tokens onto the exchange, part of its commitment to growing the range of quality digital assets available to traders. Axie Infinity (AXS) Chiliz (CHZ) dYdX Token (DYDX) Enjin Coin (ENJ) The Sandbox (SAND) &nbsp; 1. Axie Infinity (AXS) NFT games have become popular in the GameFi world as a means to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6340,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BTSE Lists Five Tokens: AXS, CHZ, DYDX, ENJ, and SAND &#8212; BTSE Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.btse.com\/blog\/btse-lists-five-tokens-axs-chz-dydx-enj-and-sand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTSE Lists Five Tokens: AXS, CHZ, DYDX, ENJ, and SAND\" \/>\n<meta property=\"og:description\" content=\"BTSE welcomes five ERC-20 tokens onto the exchange, part of its commitment to growing the range of quality digital assets available to traders. Axie Infinity (AXS) Chiliz (CHZ) dYdX Token (DYDX) Enjin Coin (ENJ) The Sandbox (SAND) &nbsp; 1. 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Axie Infinity (AXS) Chiliz (CHZ) dYdX Token (DYDX) Enjin Coin (ENJ) The Sandbox (SAND) &nbsp; 1. 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