Axie Infinity Launches “Katana” DEX

Thursday, November 4, 2021

Quick Take

  • Axie Infinity launches “Katana” DEX built on the Ronin side chain.

  • Loopring surges amid speculation of GameStop NFT marketplace partnership.

  • Nethermind adds composability support to its Warp EVM to Cairo transpiler.

  • Immutable partners with instant gaming company Playco to support NFTs across mobile games.

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Axie Infinity Launches Katana DEX

Ethereum-based play-to-earn game Axie Infinity has just launched its own decentralized exchange called Katana. The DEX runs on Axie Infinity’s native Ronin side chain which enables speedy and low-cost transactions. A new RON token was also announced today. It will soon be used to pay for gas on Ronin transactions.

Axie Infinity players can now swap tokens directly on the sidechain itself without having to bridge to L1. With the initial launch, players can swap Axie Infinity’s Smooth Love Potion (SLP) reward tokens, AXS governance tokens, WETH, and USDC. Users can also stake tokens on liquidity pools in Katana.

Axie’s SLP and AXS tokens have surged since the announcement. SLP tokens are currently up 74% to a price of nearly $0.12 per token. The AXS governance token is currently above $150, a staggering increase from just $0.60 on January 1st of this year. As of right now. RON tokens have not been released and are not yet available for purchase.

Loopring Surges Amid Gamestop Partnership

Loopring’s LRC token has surged more than 200% over the last seven days amid rumours of GameStop using the platform to build its NFT marketplace. Loopring is an Ethereum-based zk-Rollups scaling solution focused on NFTs. It enables faster and cheaper transactions by handling them on a separate chain before “rolling up” and committing on L1. 

GameStop’s own stock price is also up 21% over the last five days, currently at a price of $212 per share. Earlier this year, GME hit an all-time-high of $483 per share amid the wall street bets craze.

GameStop first teased its plans for an Ethereum-based NFT marketplace back in May. The company hired Loopring’s former Head of Business Matthew Finestone as its head of blockchain.  The speculation comes after new code was posted to Loopring’s GitHub repository last week, which makes references to GameStop NFTs.

deBridge Releases Testnet 2.0 Bridge

deBridge, a cross-chain interoperability and liquidity transfer protocol, has released version 2.0 of its testnet on Kovan. deBridge enables the transfer of arbitrary tokens and NFTs between Ethereum and Solana among other L2’s and EVM blockchains. deBridge hopes to solve for liquidity fragmentation by bridging liquidity between blockchains.

The new testnet features improved UI, support for any arbitrary asset, optimized gas, a deBridge explorer, and IPFS signature storage. In addition, the deBridge smart contracts now have equal addresses in EVM blockchains. According to deBridge, users don't need to manually switch networks in their wallets to process a transaction. The testnet bridge is now live at testnet.debridge.finance.

Nethermind Adds Composability Warp Transpiler

Nethermind has added composability support to its Warp EVM to Cairo transpiler. The Warp transpiler takes code written in Solidity and produces the equivalent code in Cairo, the programming language used by StarkWare. Composability enables the ability to make contract to contract calls.

StarkNet is a zk-rollup scaling solution in which transaction costs are made inversely proportional to network usage, the opposite of L1 Ethereum. Nethermind will now work on private storage variables, strings, catching reverts from external calls, and building the Warp optimizer before deploying a production ready release on StarkNet. 

Immutable Brings Playco Games To L2

Immutable has partnered with instant gaming company Playco to support NFTs across mobile games. Playco supports games across Facebook, TikTok, Snapchat, Zoom, and LINE messenger among other platforms. The partnership will bring NFTs to Playco’s more than 500 million global players. Immutable is an Ethereum-based Layer 2 scaling solution focused on NFTs. Immutable offers gas-free and instant transactions powered by StarkWare technology.