Just looked it up, the recent AXS surge isn’t just driven by capital inflows, but also supported by some news. Axie Infinity has officially launched the bAXS (Bonded AXS) mechanism to replace the original governance model. Here’s the breakdown: bAXS is an 'App Token' backed 1:1 by AXS, designed to replace direct AXS rewards in gameplay. Players earn bAXS through gaming instead of AXS, locking value within the ecosystem to support long-term sustainability. bAXS can be directly spent or staked in Axie Core, but it cannot be transferred to others. When selling bAXS, a variable Treasury Fee is charged based on the player’s 'Axie Score.' Loyal players (those with higher scores) pay lower fees, discouraging 'mercenaries' from farming and dumping. This approach helps reduce circulating supply and supports price stability and growth.