The Axie Infinity Team just announced Katana, the decentralized exchange or DEX for the Ronin sidechain a few days ago. This means that if you’re a Axie scholar or own a team: you can start earning SLP and swap it into AXS or provide liquidity to the Katana Pool. As of this writing, Staking AXS is currently at 120% APY.
Warning: DYOR or Do your Own Research and don’t invest anything you cannot afford to lose when dealing with Crypto.
You might be asking what is Staking AXS? and What are Liquidity Pools?
– Staking AXS is the process of locking up crypto holdings (in this case $AXS tokens) in order to obtain rewards or earn interest.
– A liquidity pool is a crowdsourced pool of cryptocurrencies or tokens locked in a smart contract. This pool facilitates trades between the assets on a decentralized exchange (DEX). Each transaction on the DEX will have a small fee and that fee is divided among liquidity providers.
In a liquidity pool, providers earn $RON tokens that are used as gas fee in all future transactions of Sky Mavis and the entire RONIN Chain.
Earn more by staking or providing liquidity to the Katana pool by referencing the steps below:
- If you can buy a team (conservative approach)
- Buy a team
- Grind Arena
- Swap your SLP to AXS and Stake it to gain 120%
- If you can buy a team (aggressive approach)
- Buy a Team
- Grind Arena
- Swap SLP to AXS & ETH to provide liquidity
- If you can’t buy a team
- Become a scholar
- Grind Arena
- Live off 70% of earnings and swap 30% to $AXS
- Staking AXS and earn 120% APY
Paraphrasing @Brycent on Twitter.
Don’t invest anything you cannot afford to lose .
How To Earn While Playing Games will be a recurring series on Codamon.com.
All content posted are my personal biased views and for entertainment purposes only.
This is NOT Financial Advice. If you want to get involved in pay to earn games: Do your own research first.
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