The Ronin network has been garnering attention, with many investors wondering if the project is still undervalued. Ronin’s goal is to make Axie Infinity and future gaming releases more economical, faster, and seamless. It is backed by Sky Mavis, the gaming studio behind popular blockchain game Axie Infinity. Depending on the slippage tolerance rate, the transaction could push through or not.The Ronin network is an Ethereum-linked sidechain that was created specifically for blockchain games.
Slippage tolerance: The price of the tokens between each other is not static, it changes even during the transaction. Minimum Receive: The minimum amount of token you will receive depending on the slippage tolerance. Price Impact: How much are you going to affect the price if your transaction pushes through. Route: How did the WETH become AXS? There could be two routes:. Liquidity Provider Fee (People who made the WETH/AXS Trading Pair Possible, which are the “liquidity providers” will divide amongst themselves this fee.). Suffice to say, if you have insufficient funds, the transaction will not go through!) (Sorry if the image says “insufficient funds.” All may assets are either in staking or in liquidity pools, things that I will explain later. Note that you may need to “Approve” Katana to do something with the token you are trying to swap! Parts of a Katana Transaction Swap! A confirmation will pop up, just click “Confirm Swap”. In the above example, you can fill in the AXS field or the WETH field, the other field will populate depending on the current exchange rate between the tokens. Indicate how much token you want to swap. #KATANA RONIN DEX HOW TO#
How to Start Using Katanaġ) Create a Ronin Account and Axie Account. These people who add funds to the pool are called Liquidity Providers (LP) and they will receive rewards in the form of fees for their contributions to the pool. Anyone can add funds to it to ensure that there is enough for others who are trying to swap.
This is the pool of funds locked within the smart contract. Ron is not for sale but liquidity providers can begin farming this today. This is the token to be used to pay fees in Katana and secure the Axie Infinity network.
RON/ETH (not available at the time this article was written.). The following trading pairs are supported. USDC – a stable coin that is 1 = 1 to the US Dollar. WETH – Wrapped Ethereum, this is the ERC20 equivalent of Ether (ETH). AXS – Axie Infinity Shards, the governance token of Axie Infinity. SLP is required for breeding (creating new Axies). Players earn SLP when they win battles in Axie Infinity. These are the following tokens available right now on Katana Dex: What Assets are Available on Katana Decentralized Exchange? If you don’t understand what liquidity pool and farming are, we’ll explain eventually as you read along this article. With Katana, you do the entire swapping inside Ronin, without even going out.Īside from swapping, you can join liquidity pools and farm tokens, which are activities available in other decentralized exchanges. By the time your ETH reaches back to your Ronin, the 1ETH worth of SLP you have is just 0.8 ETH. This is a four-step process and there are multitudes of transaction fees to pay. If you want to buy another Axie and you only have SLP, you need to take SLP out of Ronin and transfer it to main Ethereum network to convert it to ETH, then transfer it back to Ronin. Why is this important? Remember that players earn SLP when they win battles. The first automated market maker (AMM) dex inside Ronin, users can swap between available tokens inside Ronin without needing to go out of Ronin. (More on this later.) What is Katana Dex? This also means that the participants and users of the decentralized exchange themselves are providing the assets via liquidity pools. This type of exchange allows anyone to exchange between assets without a third party facilitating the transaction. 9 How to Approve Tokens and Transactions in Katana. 4 What are the trading pairs in Katana?. 3 What Assets are Available on Katana Decentralized Exchange?.
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