Axie Infinity’s native ‘Katana’ DEX goes live

The exchange will allow players of the game to swap their earned AXS and SLP tokens with ease

Axie infinity has launched a decentralised exchange – Katana – on the Ronin blockchain to help users trade assets and remain within the expansive ‘Axieverse’.

The DEX will allow users on Axie’s native blockchain Ronin – an Ethereum sidechain – to easily swap between the various assets within the Axie Infinity ecosystem.

Upon its launch, users can now trade between AXS, SLP, USDC, and WETH alongside the opportunity to deposit these assets and earn yields via liquidity pools.

Axie Infinity also unveiled RON – an ecosystem token on the Ronin blockchain that “will eventually power all transactions” on the DEX.

With the introduction of Katana, users can now swap and trade assets without having to leave the ecosystem and allow users to exchange tokens with greater ease and fewer costs.

Axie also noted that Katana will reduce its “reliance on other parties” as it will attract greater liquidity to the platform due to incentives provided by liquidity pools and a far easier experience for users.

Axie Infinity is a ‘play to earn’ (P2E) blockchain game where players can earn tokens through playing the game and collecting, battling, raising, and building the kingdoms for their virtual pets.

The game uses two tokens, AXS and SLP, to reward users:

Axie Infinity Shards (AXS) is the governance token for the Axie Infinity game and can be used by token holders to shape and vote for the direction of the game universe.

Smooth Love Potion (SLP) can be earned as rewards by players through battle or adventure mode and can be used to breed new digital pets, known as ‘Axies’.

Axie also launched its staking program at the end of September 2021, which enables holders of AXS to earn yields on their tokens alongside an airdrop.

The game has since exploded in value to an all-time high of $162 due to the prominent ‘Metaverse‘ narrative that’s currently sweeping the crypto space.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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