Traders who are active on the Binance crypto exchange can move their AXS and SLP tokens directly to a wallet on the Ronin sidechain starting from September 4th. This means that Axie Infinity players and investors no longer need to use bridge technology or spend money on gas fees. The popular crypto exchange announced the new feature this Thursday.
Before the integration, users would first need to transfer their AXS and SLP to an Ethereum wallet, paying a fee to Binance. After that they would need to use the Ethereum-Ronin bridge, which would again cost some fees. However, the new situation allows traders to transfer their assets directly onto the Ronin sidechain. In addition gamers can move their assets from the game’s ecosystem smoothly to the Binance exchange.
Even though it makes the most sense to simply use Binance and Ronin sidechain, the exchange emphasized it will keep supporting the Ethereum and BSC versions of both AXS and SLP. Traders can now move both tokens to Ethereum, Binance Smart Chain and Ronin.
Improved user experience
Integrating Ronin into Binance is not a small step, and makes the Axie Infinity ecosystem much more accessible. This is the second move in a short time that Sky Mavis has made to improve the onboarding experience for new players. In May they already implemented Ramp Network, a fiat on-ramp integrated into their web3 browser wallet.
In addition the Vietnamese game studio will push to also allow users to directly purchase Smooth Love Potions (SLP) and AXS tokens through the fiat on-ramp solution. Ultimately they would even consider allowing NFT purchasing using Ramp Network.
Axie Infinity roadmap
Axie Infinity will add a whole lot more features to their game in the coming months. An improved version of their battle mode is just one of many additions in the pipeline. Land gameplay, also known as Project K, is probably one of the most anticipated features. This will pitch kingdoms against each other in competitive gameplay.
In an effort to make it easier to get started playing Axie Infinity, Sky Mavis will introduce soulbound Axies. These are free game characters that aren’t eligible for play-to-earn mechanics, or perhaps ‘a very very small amount’. The idea is that players can then step over to paid characters to start earning from the game.
Sky Mavis is also working on creating their own decentralized exchange, a Ronin DEX if you will. In addition they want all their features to work on mobile devices as well. This is a work-in-progress.
What is Axie Infinity again?
Let’s quickly talk a bit about Axie Infinity. The tactical battle game uses its own, native Ronin sidechain. In the game players need to use 3 Axie NFTs to battle opponents and earn Smooth Love Potions (SLP). Players need to use SLP to breed new Axies. In addition parent Axies can only breed children a limited amount of times. SLP has a demand, while the floor price for an Axie NFT is right now more than $200. In short, you need three $200 Axies to play and earn SLP tokens.
Earning SLP tokens has become a source of income for people in developing countries. Among those countries the Philippines is leading the pack. The organization and economics behind this, is also becoming more professional. Third party organizations like Yield Guild Games are building tools and communities to really turn people into gamers earning income by playing Axie Infinity. With AXS they also have a governance token for their ecosystem.