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Axie Infinity Launches Katana DEX on Ronin | $163.23M Reached with 170,000 Transactions

Urian B., Tech Times

(Photo : Image from AxieInfinity) Axie Infinity Launches Katana DEX on Ronin | $163.23M Reached with 170,000 Transactions

While some people might look down on NFT games, Axie Infinity is definitely making some of the biggest moves on the blockchain. The popular NFT game Axie Infinity’s coin behind the game, AXS, currently has a market cap of almost $10 billion USD. Axie Infinity has just launched its Katana DEX on Ronin.

Axie Infinity Katana DEX

According to a particular tweet by WuBlockchain, Axie Infinity has just officially launched the Katana DEX on its own ethereum sidechain Ronin. The Katana DEX has already been able to reach a whopping $163.23 million.

As of the moment, it was noted that the transaction volume in the past 24 hours was able to close a whopping $150 million. The Katana DEX had already been able to execute 170,000 transactions despite just recently launching. Axie Infinity was seen leading in Dapp revenue by making $190.9 million in just over the past 30 days even beating PancakeSwap.

Pairs, Liquidity Pools, Farms

On the official Katana DEX, however, the pairs, liquidity pools, and farms are still all very Axie Infinity focused with WETH, AXS, and SLP being the primary focus. As of the moment, Axie Infinity already has 64 million AXS coins in circulation.

According to an article by YahooFinance, Axie Infinity has just launched its very own decentralized exchange known as Katana. Katana was reportedly launched on the Ronin blockchain in order to help users be able to trade assets and also remain within the whole expansive “Axieverse.”

Ronin to Unveil RON

The DEX will reportedly allow users that are on Axie’s very own native blockchain Ronin, which is an Ethereum sidechain as per medium, to be able to easily swap different assets within the whole Axie Infinity ecosystem. Upon its official launch, users will be able to trade between AXS, SLP, USDC, and even WETH.

There is also an opportunity for users to deposit these particular assets and earn yields through liquidity pools. It was noted that Axie Infinity had also unveiled RON which is an ecosystem token that exists on the Ronin blockchain.

Read Also: KuCoin Joins Metaverse with 21-Level Virtual Office | Representation of 21 Million Top Crypto Supply

RON on Katana DEX

RON will reportedly someday power all transactions being made on the DEX. With the introduction of Katana, users will be able to swap and trade assets even without having to ever leave the ecosystem. This will allow users to be able to exchange tokens with much greater ease as well as fewer costs.

Axie also reported that Katana will help them reduce their reliance on some other parties. It will reportedly also help attract greater liquidity towards the platform due to the incentives that are being provided by liquidity pools and a much easier experience for users.

Axie Infinity is reportedly a play to earn or P2E blockchain NFT game. Players can earn tokens through playing the game as well as collecting, raising, battling, and also building kingdoms for their very own virtual pets.

Related Article: Mythical Games Reaches $1.25B Valuation by Raising $150M | Blankos Block Party Open-World Multiplayer Game to Launch

This article is owned by Tech Times

Written by Urian B.

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