Axie Infinity announced this Thursday, November 4, the release of Ronin DEX Katana, the decentralized exchange of the Ronin network.
This was one of the most awaited news by the community and was well received by most of its users, raising the prices of AXS and SLP causing a big question: What will happen to the game?
Katana will allow anyone to easily trade between the various assets within the Axie Infinity ecosystem, without paying high commissions.
What assets will be available in Katana?
At the moment, Katana will work with 4 assets from the Axie Infinity ecosystem:
Smooth Love Potion (SLP): this is the token received by players when they win in-game battles. This token is a fundamental requirement for axie breeding and does not have a fixed supply.
Axie Infinity Shards (AXS): is an asset that represents a part of the Axie Infinity Universe. There will only be 270 million AXS in circulation and, in the future these tokens, will allow holders to participate in both the success and direction of the game community.
Wrapped Ether (WETH): is the ERC20 token of Ethereum, one of the most widely used cryptocurrencies in the world.
USD Coin (USDC): a type of cryptocurrency known as a stable coin. You can always exchange 1 USDC for $1.00.
What is a DEX, and what are its benefits?
DEXs are decentralized exchanges that allow people to exchange between two assets without the need of a traditional bank, through the use of smart contracts.
Decentralization is the key to the development of cryptocurrencies.
In other words, DEXs enabled the decentralized exchange of assets, communication between blockchains and monetization of services. All while maintaining transparency and integrity.
For this reason the Axie Infinity team sees the Ronin DEX Katana as a solution to many current problems within the Axie ecosystem, and they are fully confident that this new technology can lead the project towards “a more prosperous future“.
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