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#KATANA RONIN DEX FREE#

This alone led to the increase in some cryptocurrencies such as SAND and MANA.

First things first, the broader play-to-earn ecosystem is growing considerably in the past week following Facebook’s decision to rebrand to Meta and focus on building the metaverse.

There are a couple of reasons that might explain the staggering surge of SLP.

Over the past 24 hours, SLP’s price has gone up a whopping 100% before retracing a bit to where it currently trades.

In fact, it’s the cryptocurrency that players earn while playing the game, and it can also be used to breed new Axies.

Small Love Potion is a token part of the ecosystem of Axie Infinity.

Play-to-Earn continues to be a dominating field in the cryptocurrency industry, and today is just another proof of it.

The massive games come on the back of Axie Infinity, the project, part of whose ecosystem SLP is, launching a decentralized exchange.

USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.Small Love Potion (SLP) is up a whopping 100% in the past 24 hours. Mad Money’s Jim Cramer Wants Crypto Investors to Bet Against Him - ‘I Have Done This for 42 Years’ Meta’s Horizon Worlds Metaverse App Still Too Buggy to Be Used According to Company Executives Report: Hong Kong-Based Asset Management Firm Acquires Controlling Stake in Asian Crypto Exchange Huobi Russian Companies Are Using Crypto in Trade Despite Lack of Regulation, Officials Admitĭapper Labs Suspends NFT Operations for Russian Users Amid New EU Sanctions SLP, the “wage” token of players in the Axie platform, shot up vigorously, going from $0.06 to a peak of $0.11, almost doubling its value in just a day.īitcoin Mining Difficulty Surges to an All-Time High, Network Prints 2022’s Largest Retarget Increaseīitcoin, Ethereum Technical Analysis: BTC, ETH Fall to 1-Week Lows, as Markets Prepare for Big Week of Dataīinance CEO Changpeng Zhao Believes Decentralization Is Part of a ‘Gradient Scale’

AXS hovered around the $140 mark on November 3, while on November 4 (EDT) the token reached a price peak of almost $160. The launch of the Katana decentralized exchange boosted the price of AXS and SLP, the two tokens of the Axie ecosystem.

The first liquidity pools to be available in Katana will be AXS/ ETH and SLP/ ETH, which will distribute half of the rewards offered each. Sky Mavis stated they would be offering more information on ron specifics soon. Ron will also be offered as a reward for staking liquidity in Katana, this being the main incentive behind it. Going forward, however, the native token of the Ronin sidechain, ron, will be needed as gas to pay for transactions.

#KATANA RONIN DEX FREE#

Until now, Ronin transactions were free, and each user had a quota of 100 free transactions per day. Katana also brings changes to the economics of Ronin. Sky Mavis Introduces Ron Token, Prices React One of the most interesting proposals of the exchange is the introduction of USDC as a supported token, making it easier for players of Axie to park their earnings in stablecoins to avoid volatility. With Katana, Sky Mavis makes it easier to manage Axie Infinity and introduces an alternative way of earning yield for users.Īs with most decentralized exchanges, Katana will feature liquidity pools to serve other users in facilitating the exchange of their tokens on top of the same Ronin sidechain. Ronin is Sky Mavis’ own tailored Ethereum sidechain, developed to satisfy the needs of users that complained about the high fees they had to pay for transacting on Ethereum’s Layer 1 (L1). Sky Mavis, the developer of Axie Infinity, a breakthrough play-to-earn-based blockchain game, has launched Katana, a new decentralized exchange on top of Ronin. This new product will allow users to earn rewards for providing liquidity.

Katana will feature all of the tokens used in Sky Mavis’ products, including SLP and AXS, the native tokens of the Axie Infinity ecosystem. Sky Mavis, the company behind the development of Axie Infinity, has launched Katana, the first decentralized exchange for Ronin, its custom-made Ethereum sidechain.