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What is katana-DEX? What can be done and what should be done │ Easy-to-understand explanation

Katana-DEX-

“DEX finally came!!
“Katana DEX is the best!”
“I’ve been staking immediately!”

Axie users are excited like a festival,
People who are new to cryptocurrencies and blockchain games don’t know what’s going on, what they can do with KatanaDEX, or what to do.

In this article, it will be easy to understand even for cryptocurrency beginners
・ What can you do with KatanaDEX?
・ What should I do?
I will explain about.

TOC

-Katana- What is DEX?

Katana is an automated market maker (AMM) decentralized exchange (DEX) built on Ronin.

You can use Katana to swap, issue LP tokens, and farm.

Automatic market maker (AMM)
Decentralized Exchange (DEX)
·swap
・ Pool
・ Issuance of LP tokens
・ Farming / Steaking

These terms are related to cryptocurrencies and Defi, and will be mentioned many times in the future when making money with Play to Earn and games.

Katana has a very simple layout, so if you touch it, you can operate it without understanding it.
However, if you leave it as [I don’t know, but I recommend it before], you will get anxious every time you operate katana.

[Somehow] is dangerous even though it is about important money

Therefore, let’s take this opportunity to deepen your understanding of Decentralized Finance such as DEX.

This article is intended to help you understand [Katana].
Than professional knowledge<We focused on expression that prioritizes clarity>than the professional knowledges. Please understand in advance as it is explained in.

What is the automated market maker DEX?

Automation market maker AMM

An automated market maker (AMM) is a system that does not require a [board] for trading virtual currencies .
▼ Example of [board]
What is AMM?

On the board, the transaction is completed when the amount of money of the person who wants to sell and the person who wants to buy match.
As the name suggests, AMM builds a market [automatically].

[If you sell it now, this amount! ]
[If you buy it now, this amount! ]
It is very easy to understand when using it, and has the advantage of being able to trade immediately.

Decentralized exchange / DEX

In the sense of DEX = decentralized exchange, I think it would be easier to understand if you could imagine a [bank without an intermediary] in an easy-to-understand way.

Instead of an intermediary, an automated market maker (AMM) will do the job.

Also, DEX has no money in the vault when it is opened as well as an intermediary.

Therefore, we users should make

akarui
SLP ETH!

Even if you apply
Of course, a DEX with an empty safe cannot be exchanged and cannot act as an exchange.

So DEX adopts such a system.

If you deposit money in DEX, I will give you a thank you (interest rate and currency), so
Please deposit SLP and ETH! !!

With this system, money can be collected at DEX (exchange).
In this way, by the occurrence of people who deposit money in DEX

akarui
Make SLP ETH!

If you apply, DEX will accept the transaction using the automated market maker (AMM).

Swap function-Currency exchange-

Not limited to DEX
“Please change SLP to ETH! 』\
Exchanging a different currency with the currency you have like this is called [swap].

Swap function is available in Katana -DEX-, with a fee of 0.3%
・ WETH
・ AXS
・ SLP
・ USDC
・ RON / WRON (future implementation)
Can be redeemed as you like.

What is pool / LP token / Fram?

Issue LP tokens with pool

In the above-mentioned DEX mechanism
If you deposit money, we will give you a thank you (interest rate and currency), so please deposit SLP and ETH! ]

It is pool / LP / Fram related to this event.

A pool is like a pool or vault inside a DEX, where we users deposit currency.

When you deposit currency in the pool, it will issue [LP token] as proof of deposit.

akarui
At this stage, we have not yet received any interest rates or currencies to thank.

Bring the [LP Token] that you received as a thank you to the Farm.
You can receive a thank you by giving the LP token.

(In Katana)
The action of handing over this LP token is called [Stake: staking, staking].

After staking, you will be in a state of receiving thanks in real time, and Katana has its own currency[WRON] You can get it.[WRON]

akarui
Will be explained later.

You can always return the deposited currency

To summarize the flow so far from the user’s perspective,

① Deposit currency in DEX and
② Have an LP token issued
③ Steak using LP tokens

is.
Once you want take your deposit back,
You can return the currency you deposited in the reverse order.

① Release staking and
② Get the LP token returned
③ Have the currency exchanged for LP tokens

Since you only [deposit] money in DEX, it will not increase or decrease except for staking activities.

Just be aware that there is a small fee to deposit and withdraw, so a few hours of staking will cost you.

About WRON

Now that Katana has been released, it has become possible to swap SLP, WETH, AXS, etc. easily and with less fees, so users are excited.

But the swap function is not all of Katana.
Steak[WRON] Don’t forget to get one.

WRON is according to Axie Infinity official explanation

RON is the native token of the Ronin block.
Eventually, the payment of gas charges and
It’s about protecting the security and decentralization of your network.

It is explained like this.

Currently, when using Ronin Wallet, you can send money or purchase Axie for free, but
It is imagined that you will be charged WRON for that fee.

And this sentence should not be overlooked.

We want to take this opportunity to distribute a very special part of our future to you, our beloved community, so we launch RON with Katana! Ronin’s success so far is a direct result of our wonderful community. Today, you will be the early administrator of Ronin through this distribution event.

I am reading the current status [Distribution event].

It may not be easy to get WRON in the future.
Since Axie Infinty is still in the development stage, the value of WRON / RON may be more important than we can imagine.

By the way, the video when Katana was released this time is the last,[RON] It ends with the appearance of Axie who is pleased that was generated.

RON

Axie Infinty Official Channel-Image quote from katana-

I don’t know the true meaning of this, but staking it because the swap function makes it more convenient.[RON] It is clear that the video was created mainly for publishing.

You can start staking for a small amount, so if you have assets in Roninwllet, why not start staking now?

There is an article that officially explains the method of staking with a screenshot commentary.

Even if you don’t understand English, you learned in this article

① Deposit currency in DEX and
② Have an LP token issued
③ Steak using LP tokens

If you understand this, you will understand the contents.

▼ How to swap / staking ▼
https://axie-infinity.gitbook.io/katana-docs/pool

akarui
Thank you for reading to the end!

Last but not least, we’re always keeping up with the latest information on Axie Infinity and blockchain games, so if you’d like, follow us on our Twitter account.
If you have any questions or requests, please skip the reply on Twitter and we will read it. Thank you for your cooperation.

twitter.com/akarui_2020

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