Sky Mavis launches katana, the original Dex for Ronin Sidechain – Bitcoin News – News Couple
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Sky Mavis launches katana, the original Dex for Ronin Sidechain – Bitcoin News


Sky Mavis, the company behind the development of Axie Infinity, Katana, Ronin’s first decentralized exchange, has launched a specially designed Ethereum sidechain. Katana will display all tokens used in Sky Mavis products, including SLP and AXS, tokens for the Axie Infinity ecosystem. This new product will allow users to earn cash rewards.

Launching Katana DEX from Axie Infinity

Sky Mavis, the developer of Axie Infinity, an innovative blockchain game based on playing to earn money, launched Katana, a new decentralized exchange on top of Ronin. Ronin is Sky Mavis’s tailor-made Ethereum sidechain, which has been developed to cater to users who have complained about the high fees they have to pay for transactions on Ethereum’s Layer 1 (L1). With Katana, Sky Mavis facilitates the management of Axie Infinity and offers an alternative way to earn revenue for users.

As with most decentralized exchanges, Katana will feature pools of liquidity to serve other users in facilitating the exchange of their tokens on top of the same Ronin side chain. One of the most interesting offers on the exchange is the introduction of USDC as a backed token, which makes it easier for Axie players to keep their winnings in stablecoins to avoid volatility.

Sky Mavis introduces Ron Token, prices react

The katana also brings changes in the economics of ronin. So far, Ronin’s transactions were free, and each user had a quota of 100 free transactions per day. However, from now on, Ronin’s sidechain token, ron, will be needed as a gas to pay for transactions. The rune will also be offered as a reward for grabbing the cash in the katana, which is the main motivator behind it. Sky Mavis has stated that they will provide more information on ron details soon.

The first available katana liquidity pools will be AXS/ETH and SLP/ETH, which will distribute half of the rewards offered to each.

The launch of the decentralized Katana platform boosted the price of AXS and SLP, two distinct tokens of the Axie ecosystem. AXS hovered around the $140 mark on November 3, while on November 4 (EST) the token reached a peak price of around $160. SLP, the “wages” token for players on the Axie platform, rose strongly, going from $0.06 to $0.11, nearly doubling its value in just one day.

What do you think about the launch of Katana, Sky Mavis’ first decentralized exchange? Tell us in the comments section below.

photo credits: Shutterstock, Pixabay, Wikicommons

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