Saturday, December 4

Katana Revolution: Axie Infinity DEX moves $ 1.7 billion in 7 days


Katana, Axie Infinity’s new DEX, is currently the second most widely used decentralized application (DApp) in the crypto industry. With just a week since its official release, Katana has broken several records. In the first place, the volume of operations carried out through this DEX exceeds 1,700 million dollars and has more than 121,000 active users since its launch on the market, a week ago. All these data were published by the developers of Axie Infinity through their official Twitter account.

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Katana has been developed on Ronin, a custom sidechain on Ethereum built by Axie Infinity to reduce transaction fees. The new Dex allows SLP and AXS token holders to exchange their tokens easily, without the need to go to external platforms or trusted third parties. Ronin combines Proof of Stake (PoS) with Proof of Authority (PoA), offering a high level of scalability and security, while being highly energy efficient. Since its official launch last Thursday, Katana has had a great reception in the crypto community. At press time, the trading volume in the last 24 hours within Katana exceeds 98 million dollars.

Katana, DEX de Axie Infinity

When the Axie Infinity developers announced the release of Katana, they reported that the blockchain game Play to Earn would enter a new stage, which opened new opportunities to its user-players. Through its DEX, Axie Infinity allows anyone to easily exchange SLP and AXS tokens between the various assets available within its ecosystem. As is known in the crypto industry, DEXs allow decentralized transactions between users through the use of smart contracts.

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At Katana, players can trade using SLP, AXS, USDC and wETH tokens and deposit said digital assets in liquidity pools, receiving rewards proportional to their deposits as LPs (liquidity providers). To date, the liquidity deposited in Katana exceeds $ 1 billion, according to Axie.

SLP and AXS are native Axie Infinity tokens. The first is the one used by the gaming platform to reward its users when they win battles. It is also used for the breeding of axies, the creatures of the game. AXS is a rarer token used for governance and decision making within the project.

Development and growth

The Axie Infinity developers highlighted in a release that with the rise of the decentralized economy and the massive adoption of Axie Infinity, Katana becomes fundamental to the consolidation of its blockchain game. The company claims to believe in a future where all game resources are tokens that can be freely traded. Currently, only PancakeSwap, the largest DEX in the Binance Smart Chain, beats to Katana in trading volume

Why did the value of Axie Infinity token AXS grow more than 100% last week?

RON, the native Ronin token

Along with Katana, the Axie Infinity developers also announced the launch of Ronin’s native token, RON. This new token will allow Axie Infinity users to pay Gas rates within the network. RON is also on a mission to ensure the decentralization of Ronin and to ensure that the chain is always kept in the hands of the community. Axie Infinity migrated all of its elements to Ronin in early 2021.

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