To Infinity and Beyond
AXS and SLP are having a great day on the back of Axie Infinity’s latest announcement: a native DEX (Katana) for its Ronin sidechain. The DEX will be bootstrapped with AXS/ETH and SLP/ETH pairs, offering token rewards to liquidity providers. The kicker is token rewards come in the form of a new token — RON, a governance token for the Ronin sidechain.
Between July and September, SLP’s price fell by over 85% due to a supply overhang, as mentioned in an earlier Delphi Daily. The ability to earn a yield on SLP by providing liquidity on Katana could bring some much needed respite for SLP.