Friday, December 3

Katana has arrived, the new DEX where Axie Infinity tokens can be exchanged

Key facts:
  • SLP, AXS, wETH and USDC are the tokens that can be exchanged on the decentralized exchange.

  • They offer rewards in RON to those who provide liquidity to the DEX.

Axie Infinity continues to expand. Sky Mavis, creator of the game based on non-fungible tokens (NFT), announced this Thursday the launch of Katana, its own decentralized exchange (DEX), through which users will be able to exchange the various assets within the platform.

This was announced by the same company in a publication on their official blog, where they highlighted that the new DEX can operate between tokens AXS, SLP, USDC and WETH.

By definition, a DEX is an application that allows people to exchange two assets without a bank or other trusted third party intermediating, through smart contracts.

This is the case of Katana, where Axie Infinity users / players, they will be able to quickly exchange the assets in your wallet “Anytime, Anywhere on the Ronin Blockchain at Low Cost”.

For the company, the launch of Katana is based on the belief of a future “in which all the resources of the game are freely interchangeable tokens.”

Four tokens to start

In the note they make it clear that it is a DEX Targeted Towards Axie Infinity Players, so most of the exchanges will be executed between cryptocurrencies already known to the members.

It is the case of Smooth Love Potion (SLP), a token that is created by just playing and that is essential for the “breeding” of an Axie, the protagonist creatures of the game.

The others are Axie Infinity Shards (AXS), which represents a “fragment” of the Axie Infinity Universe; Wrapped Ether (wETH), which is Ethereum’s ERC-20 token and USD Coin (USDC), the stablecoin that has a 1-to-1 parity with the US dollar.

As indicated in the note, the DEX was built for players to use the products in a way easier and less expensive, as well as to “reduce” “dependency” on other parties, becoming “the largest token exchange” in its ecosystem.

Among other reasons, they aspire inincrease liquidity of ecosystem assets, opening the doors to exchanges while players spend their time on the app. “Katana allows anyone to become a provider of liquidity when depositing both sides of the assets of a trading pair,” they state.

RON, the new token

RON is the own token of the Ronin blockchain ecosystem that will power everything the decentralized exchange. As they clarify, it will be used to pay gas rates and secure the network, both for Axie Infinity “and for future games / products hosted on the chain.” They also announced it today.

“The main purpose of RON is to ensure that Ronin is always a blockchain owned by our community,” they noted.

RON will also be used for reward Katana’s liquidity providers. Two groups will share 10% of the total supply of the new token over the next three months: those who deposit in the liquidity pools SLP / ETH and in AXS / ETH.

The rewards for these groups will go live later this week. We anticipate that these rewards will create a swirling effect, sucking AXS, SLP, ETH, and USDC into Katana.

Independence, certainly

The arrival of Katana means a true independence for the trading of Axie Infinity’s own tokens. Positive, because it feeds the community that grows more and more. But also negative, perhaps, because it cuts the growth of the acceptance of those assets in larger markets.

In fact, it was already happening. In Binance’s P2P market in the Philippines, the SLP token began to negotiate for local pesos, as reported by CriptoNoticias.

In a statement from the famous exchange, they indicated that the SLP / PHP trade I would not have any kind of commission, This, of course, taking into account that the Binance P2P platform does not establish any type of fee in any of its markets.

More towards Latin America, Venezuela made the news a few months ago for reopening its casinos, after more than a decade closed by the government of that country. The novelty is that in one of those places would accept Axie Infinity tokens to play.

The Ciudad Jardín Casino, at the Hotel Pipo Internacional in the city of Maracay, in the center of the country, was inaugurated on August 31. They announced that they already accepted cryptocurrencies such as bitcoin (BTC), ethereum (ETH), the stablecoin tether (USDT), and even SLP and AXS tokens.

And in the same vein, UpHold, a platform for the sale of cryptocurrencies and other assets, added Axie Infinity Shard to its list of tokens, a fact also reported by this newspaper.

SPL rebounded this Thursday

Probably and due to the announcement of the decentralized exchange, Axie Infinity’s Smooth Love Potion (SPL) token rose this Thursday and marked lows not seen since September.

According to the graphs of CoinMarketCap, the token traded early this November 4 at $ 0.13, a price not seen since last September 5.

It was negotiated at 13 cents on the dollar. Source: CoinMarketCap.

Although it is still far from the all-time highs of April and July, when it traded at USD 0.36 and USD 0.34, respectively; it does denote a favorable reaction for the ecosystem in general.