We believe in a future where all in-game resources are freely trade-able tokens.
Katana was built to:
- Make using our products (like Axie) easier and less expensive.
- Reduce our reliance on other parties by becoming the largest exchange for our ecosystem’s tokens
- Increase liquidity for assets in our ecosystem. This will make it easier to exchange the tokens you earn while playing Axie!
Katana enables exchange by leveraging assets community members like you share within liquidity pools. Katana allows for anyone to become a liquidity provider when they deposit both sides of a trading pair’s assets into its liquidity pools.
We are proud to make the following assets available for exchange in today’s launch:
- Smooth Love Potion (SLP): a game resource that is created when players win battles inside the game. This resource is a core requirement of Axie breeding and does not have a fixed supply.
- Axie Infinity Shards (AXS): an asset that represents a portion (shard) of the Axie Infinity Universe. There are only 270 million AXS that will exist in circulation, and they will ultimately enable holders to participate in both the success and direction of the community.
- Wrapped Ethereum (WETH): the ERC20 equivalent of Ethereum, one of the most widely used cryptocurrencies in the world.
- USD Coin (USDC): a type of cryptocurrency known as a stablecoin. You can always redeem 1 USDC for US$1.00, giving it a stable price.
RON – the token which powers Ronin
Today, we are also unveiling RON. RON is the ecosystem token for the Ronin chain. It will eventually be used to pay gas fees and secure the network for both Axie Infinity and future games/products hosted on the chain. RON’s primary purpose is to ensure that Ronin will always be a blockchain owned by our community.
We are launching RON alongside Katana because we wanted to use this opportunity to distribute a very special part of our future, to you, our beloved community! The success of Ronin so far has been a direct result of our amazing community- today we make you early stewards of Ronin through this distribution event.
To incentivize Katana liquidity, 10% of the total RON supply will be rewarded to liquidity providers who stake their deposits in both SLP/ETH and AXS/ETH. The rewards for these pools will be activated later this week. We anticipate that these rewards will create a whirlpool effect, sucking in AXS, SLP, ETH, and USDC to Katana.
Please note that no RON is for sale. Do not get scammed!
Today, all Ronin users are given 100 free transactions per day. Going forward, we’ll shift to a system where RON tokens will be required for all transactions. These gas costs will be very small and ensure a sustainable long-term ecosystem.
We will be releasing an overview of RON soon.
Katana is launching with liquidity rewards for 2 pools:
10% of the RON supply will be rewarded to liquidity providers in these pools over the next 90 days.
AXS/ETH – 50% of RON rewards. If you’re currently staking AXS you’ll need to un-stake your AXS to participate in this pool.
SLP/ETH – 50% of RON rewards
Once you deposit liquidity, you’ll need to stake your liquidity pool tokens to take part in our launch reward program.
Rewards are issued as Wrapped Ronin Tokens (WRON) as the staking contract only accepts ERC 20 token. The WRON rewards for these pools will be activated later this week. The WRON rewards will be claimable at a later date. This will also coincide with the launch of the RON/ETH pool for swapping RON tokens.*
There are 1,000,000,000 RON tokens. The supply after 90 days of RON farming will be 100,000,000.
Liquidity Provider Fees
Liquidity providers receive 0.25% of each trade that taps into the pool. 0.05% of each swap is sent to the Ronin treasury.
For now, only whitelisted pools can be created.
We’ve put together detailed documentation for using Katana.