Axie Infinity recently announced the launch of its own decentralized exchange, Katana. The NFT-based online video game previously developed its Ronin sidechain, with a new ecosystem token $RON. However, with the launch of Katana, Axie Infinity users will be able to switch tokens without connection aid from the Ethereum blockchain. The platform tweeted the following announcement:
“Today, we take one step closer to a more prosperous future for our nation. Katana, the Ronin Dex, is live! You can now deposit liquidity and swap tokens. RON rewards will be activated for the AXS/ETH & SLP/ETH pools later this week.”
The Katana decentralized exchange service runs natively on the Ronin sidechain. In addition, Ronin’s sidechain liquidity pools are backed by users, and handle all the transactions processed on the Katana DEX.
Axie Infinity initially announced the launch last month, shortly after its Axie Infinity Shards ($AXS) hit a $153 all-time high. Axie Infinity’s Ronin custom sidechain allowed for quick, inexpensive transactions for both $AXS and $SLP tokens. Furthermore, due to the launch of Katana, the prices of both tokens have surged today.
In light of this announcement, Axie Infinity’s $SLP token experienced a surge of 42.40% within the past 24 hours. It even recently went as high as $0.11 per token within the timeframe.
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