Katana, the Ronin Decentralized Exchange (DEX), is now live, allowing Axie Infinity players to seamlessly trade their Axie Infinity crypto tokens.
Katana went live on Thursday, November 4, opening a new and easy way for players to trade their SLP and AXS to WETH and USDC tokens. The Ronin DEX will allow players to trade their Axie Infinity-based tokens to other crypto tokens in the ecosystem through their browser with minimal fees. This eliminates the need to use third-party exchanges such as Binance in transactions involving SLP and AXS. The purpose of Katana is mainly to keep the Axie Infinity ecosystem sustainable by providing an exchange where liquidity for assets is provided by the community that uses SLP and AXS themselves.
The decentralized exchange also comes with a new crypto coin: RON. Capped at only 1,000,000,000 units, the RON is the ecosystem token for the Ronin blockchain. It will eventually be used to pay gas fees and secure the network for both Axie Infinity and future games or products by Sky Mavis using the RON network. Sky Mavis will be distributing RON tokens to users who will contribute to the liquidity pool of Katana – 10% of the total RON supply will be rewarded to liquidity providers who stake their SLP/ETH and AXS/ETH.
RON is currently not for sale and is an inactive asset – meaning you cannot buy and sell it with real-world currency. Eventually, RON will be assigned a value by the community when Ronin transactions, primarily through Katana, start requiring RON tokens for transactions made within the ecosystem.
The introduction of Katana saw a surge in SLP price, which peaked at $0.129 within the last 24-hours. This is the highest value the crypto coin has since in months, but still pales in comparison to its lifetime peak of $0.36.
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