The guide shares details about the new Katana Ronin Chain, the new decentralized exchange for Ronin.
After the successful release of Ronin, the Axie World has managed to enter a new era where economic activities are flourishing. It has attracted new people at a higher rate that shocked the world.
The platform has ventured into a new future of the digital nation and launched Katana, the decentralized exchange for Ronin. Soon after the exchange launch, Ronin’s holders in the Philippines, Indonesia, and United Arab Emirates have started searching for more details on Katana Ronin Chain.
So, we are here to discuss the decentralized exchange for Ronin.
What is Katana Exchange?
Katana is the AMM or Automated Market Maker and a decentralized exchange developed on top of Ronin. The exchange allows the holders to easily swap between different ERC-20 assets.
The exchange also offers liquidity to the decentralized exchange and allows holders to earn swap fees. Besides, the exchange allows staking the LP Pool tokens to earn Ronin Coin.
The exchange also allows breeding and buying the Axies earlier, making them accessible for players. Players can also swap the SLPs for AXS for breeding and swap SLPs with WETH to purchase new Axies.
Why Use Katana Ronin Chain?
Katana is the decentralized exchange or DEX that believes in a future where all the game’s resources can be traded freely. The platform is developed to:
- Minimize dependency on other third parties by emerging into the largest exchange for the token’s future ecosystem.
- Make the products affordable and easier
- Heighten the liquidity for assets within the ecosystem, making it easier to exchange tokens earned via Axie.
The platform allows exchange by taking advantage of community members as they can share within the liquidity pool. Katana Ronin Chain enables all to become liquidity providers, especially when depositing both sides of the trading pair assets into LP.
What are the Assets on Katana Exchange?
Users of the platform can access the following assets for easy exchange on the platform.
- SLP or Smooth Love Potion is the in-game resource created when players win the battles. It is the major requirement for breeding Axies, and it has no fixed supply.
- USD Coin or USDC – The Crypto is widely used as Stablecoin. The Katana Ronin Chain allows redeeming one USDC for $1.00, offering a stable value.
- AXS or Axie Infinity Shards is an asset sharing a portion of Axie Infinity World. Over 270 million AXS is available for circulation, and it enables the holders to participate in both direction and success of the community.
- WETH or Wrapped Ethereum is the ERC-20 type of Ether and the most commonly used crypto globally.
How to Use Katana DEX?
- Katana is very easy to use, and you need to set up a Ronin Wallet.
- Go to the Katana Ronin Chain DEX and connect the Ronin Wallet
- After connecting, you will see the amount of AXS you won on the upper right corner
- You need to choose the desired token and start to swap
- Deposit the token into the LP pool and get rewards in the form of trading fees and RON tokens
FAQs
Q1. What is the Official Link for the DEX?
A1. People have to visit the official website https://katana.roninchain.com/#/swap to start trading assets.
Q2. What are the Assets Supported by the Exchange?
A2. The supported assets of the exchange are SLP, AXS, WETH, and USDC.
Conclusion
If you want to easily swap between different assets within the Axie Infinity Ecosystem, Katana Ronin Chain is what you have to use. The decentralized exchange Katana is live, and you can now trade between WETH, USDC, SLP, and AXS.
It is the decentralized exchange launched for Ronin. But, before you start trading on the exchange, learn about the Best Cryptocurrency to Invest 2022.
Are you using the DEX Exchange? Then, please share your experiences in the comment section.