Deposit the token into the LP pool and get rewards in the form of trading fees and RON tokens.You need to choose the desired token and start to swap.After connecting, you will see the amount of AXS you won on the upper right corner.Go to the Katana Ronin Chain DEX and connect the Ronin Wallet.Katana is very easy to use, and you need to set up a Ronin Wallet.WETH or Wrapped Ethereum is the ERC-20 type of Ether and the most commonly used crypto globally.Over 270 million AXS is available for circulation, and it enables the holders to participate in both direction and success of the community. AXS or Axie Infinity Shards is an asset sharing a portion of Axie Infinity World.The Katana Ronin Chain allows redeeming one USDC for $1.00, offering a stable value. USD Coin or USDC – The Crypto is widely used as Stablecoin.It is the major requirement for breeding Axies, and it has no fixed supply. SLP or Smooth Love Potion is the in-game resource created when players win the battles.Users of the platform can access the following assets for easy exchange on the platform.
Katana Ronin Chain enables all to become liquidity providers, especially when depositing both sides of the trading pair assets into LP. The platform allows exchange by taking advantage of community members as they can share within the liquidity pool. Heighten the liquidity for assets within the ecosystem, making it easier to exchange tokens earned via Axie.Make the products affordable and easier.Minimize dependency on other third parties by emerging into the largest exchange for the token’s future ecosystem.Katana is the decentralized exchange or DEX that believes in a future where all the game’s resources can be traded freely. Players can also swap the SLPs for AXS for breeding and swap SLPs with WETH to purchase new Axies. The exchange also allows breeding and buying the Axies earlier, making them accessible for players. Besides, the exchange allows staking the LP Pool tokens to earn Ronin Coin. The exchange also offers liquidity to the decentralized exchange and allows holders to earn swap fees. The exchange allows the holders to easily swap between different ERC-20 assets. Katana is the AMM or Automated Market Maker and a decentralized exchange developed on top of Ronin. What are the Assets on Katana Exchange?.The post Axie Infinity’s Ronin bridge and Katana Dex halted after suffering a $612M exploit appeared first on Coin Journal. Although the validator key scheme is decentralized and built to limit an attack vector like the one that just occurred, the hacker found a backdoor through the network’s gas-free RPC node and got the signature for the Axie DAO.Īt the time of writing, the RON token, which is Ronin’s native governance token, had dropped by over 20% over the past one hour. The Sky Mavi’s Ronin chain consists of nine validator nodes and five out of the nine are required to append their signatures for a deposit or withdrawal to be recognized. All of the AXS, RON, and SLP on Ronin are safe right now.Īccording to an official communication of Ronin Network on Substack, the hacker managed to take over the control of four of Sky Mavi’s Ronin validators together with a third-party validator managed by the Axie DAO. We are working with law enforcement officials, forensic cryptographers, and our investors to make sure that all funds are recovered or reimbursed. Ronin however said in the Twitter thread touching on the exploit that its team is working with “law enforcement officials, forensic cryptographers, and our investors to make sure that all funds are recovered or reimbursed.” It also said that “all of the AXS, RON, and SLP on Ronin are safe.” The Ronin bridge and Katana Dex have been halted.įollowing the hack, Ronin bridge and Katana DEX have both been halted. The Ronin bridge has been exploited for 173,600 Ethereum and 25.5M USDC. According to a tweet posted on Ronin Network’s official Twitter handle, the Ronin bridge has been exploited and 173,600 ETH and 25.5 million USDC coins worth about $612 million were stolen.
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