Sky Mavis, the creators of the most successful Play-To-Earn in the world Axie Infinity launched today at dawn their Automatic Market Maker / Decentralized Exchange (AMM / DEX) called Katana, and at the same time the expected RON token on top of their Ronin blockchain, know the details below. ***
Katana is now live, a decentralized exchange that works identically to Uniswap, but on the Ronin blockchain that empowers the AxiE ecosystems Infinity to avoid having to pay the exorbitant fees of Ethereum.
Below are the announcements:
- You can swap between AXS, SLP, USDC and WETH
- You can deposit liquids in all pairs and earn 0.25% of each transaction in the pool (in proportion to your collaboration of liquids of the total). 0.05% of each swap will be sent to the Ronin treasury
- For the moment Only pools of liquids approved by Sky Mavis can be created, it is not like in other blockchains that anyone can create a pool of liquids
- If you add liquids to the AXS / WETH or SLP / WETH pools, you can use the LP Tokens generated by your deposit to “farm” RON.
- 10% of all RON supply will be rewarded to liquid providers for the next 90 days. These rewards will go 50/50 to the 2 starting pools of AXS / ETH and SLP / ETH
- If you want to earn RON, after depositing liquids in AXS / ETH or SLP / ETH then you will have to deposit your LP tokens in the “Farm” section to the appropriate pool
- Rewards are currently disabled. Later this week they will be activated to give a fair chance to all who wish to participate.
- They expect these rewards to have a swirling effect, which will suck AXS, SLP, ETH and USDC into Katana causing the price on external exchanges to rise given the reduced supply. Traders will likely install arbitrage bots to take advantage of the price differences between Katana and CEXes like Binance
- Today, all Ronin users will have 100 free transactions per day. Then it will be necessary to have RON as gas to make all the transactions, gas costs will be minimal to maintain a sustainable ecosystem in the long term
- There’s a total supply of 1 billion RON tokens (1,000,000,000 RON).
At the time of this publication there are already more than USD $ 132M deposited in Katana, we see that the liquidity increases at a rate of ~ USD $ 6M per hour.
RON – The token that empowers the Ronin blockchain
Today they also revealed RON, the ecosystem token for the Ronin chain. It will eventually be used to pay gas commissions and secure the network for both Axie Infinity and other games / products hosted on the Ronin chain.
The main purpose of RON is to ensure that Ronin is always a blockchain owned by members of the community.
We reiterate, to incentivize liquids in Katana, 10% of all RON supply will be given as a reward to liquid providers that staking their deposits in the SLP / ETH and AXS / ETH farms.
The rewards will be activated later this week.
There is no RON for sale, beware of scams.
Source: Axie Infinity Substack