![]() RON stands as the fifth and the token that eventually governs the Katana DEX. Wrapped Ethereum and USDC are the foreign currencies on the Katana DEX. The Axie Infinity Shard (AXS) is the token standing for portions in the game’s universe. One is the SLP coin, which gamers acquire after victorious battles in the game. The four tokens mentioned earlier are the primary tokens currently on the platform. Furthermore, it wishes to get rid of third parties required in most cases to trade in-game bounties. Katana will change this narrative, revamping resource usability. RON’s purpose on KatanaĪxie Infinity accepts the challenging situation its users experience when trying to trade resources acquired in the game. As it progresses, RON, Ronin blockchain‘s native currency, will take over as the core token behind Katana’s transactions. Ethereum‘s sidechain Ronin powers the functionality and security of Katana and Axie Infinity. Additionally, it boasted a market capitalization of over $9 billion and ranked at 23rd position on CoinMarketCap.Īxie users can utilize Katana to trade four digital assets, including WETH, SLP, AXS, and USDC. The Katana DEX unveiling has led to an Axie Infinity value surge by approximately 1.2% within the past 24 hours, reaching $150. Axie Infinity rank is currently causing a stir in the gaming world as one of the best play-to-earn games. This move put into play a rally effect on SLP and AXS tokens, the two coins native to its users. Furthermore, it means reducing costs that Axie users incur resource trade from what they earn from the game. The gaming network is working towards the most prominent trading platform for its in-game products, expanding usability. The DEX offers users swapping options, staking funds into liquidity pools, and trading fee rewards.Īxie Infinity recently put forth news on its DEX, Katana DEX, built on Ronin.Axie Infinity is proud to present Katana DEX, its decentralized exchange based on Ronin.However, given the development of Katana, it looks like it will soon become a formidable competitor in the DEX space. This proves that updating the network does not necessarily facilitate the growth of the user base. Number of addresses Axie Infinity | The source: Intotheblock However, the growth of the AXS token in the spot market is not as great as expected, but is still average. Of course, reception is important when it comes to new upgrades in the network. TVL by DEX Katana | The source: DeFi Lama Probably because it increased 4,615,280% of Total Locked Value (TVL) from $ 26,000 on day one to $ 1.2 billion on day 14 in less than 2 weeks. Since its introduction on November 4th, this DEX has gradually moved into the focus of the market. The token is also used to aid the ronin chain as a method of paying gas fees and securing the network. RON tokens are intended to complement the liquidity pool as they are paid out as rewards. In addition, users can also deposit into liquidity pools and be rewarded with fees and RON tokens. This decentralized exchange was born with the aim of simplifying the token swap process in the Axie Infinity ecosystem.Ĭurrently DEX only supports exchanges between AXS, SLP, USDC and WETH. The reason for the volume increase in November is the effect of Katana, DEX on Ronin. Inflows in ETH and AXS on Ronin | The source: dune At the same time, there have been over 3.1 billion inflows from AXS valued at $ 409 billion. On November 6th alone, the chain received 73,683 ETH worth over $ 306 million. During the same period, SLP mainly recorded outflows. However, most of the major on-chain activity took place during that month, with Ethereum and AXS seeing massive inflows. Most famous, however, is the performance of the decentralized exchange (DEX) katana.ĪXS 4-Hour Price Chart | Source: Tradingview What is katana? Axie Infinity launched the Ethereum-linked Ronin sidechain last year and it has done well this year. ![]() In fact, the AXS price has hit a new all-time high in the past two weeks. The network continues to expand and their recent efforts speak for themselves. Axie Infinity is growing exponentially in the GameFi space.
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