Unless you've been living under a rock, you must have heard the #Ronin DEX went live. For those unaware, the concept is quite simple, it allows anyone to easily swap various digital assets in a decentralized and trustless manner - meaning there's no banks or any central entity required to conduct the trade.
For our launch, you can now trade between AXS, SLP, USDC, and WETH.
Basically you can deposit any of the above mentioned assets, and get rewarded with the share of trading fees and underlying RON token.
This is something that might alter the way the ecosystem grows. It depends on the initial stake percentage locked, but I'm confident axie infinity has a strong community that'll back everything up.
While the statement seems a bit off, I was convinced that there will not be a lot of #SLP locked in the LP. I was wrong though, numbers don't lie.
This is actually a huge victory for the short term vision.
And while I was expecting to see the #SLP to moon simply because of the hype, I think in the long run things will get tricky unless there's an additional sinks to it.
For the reference, look at the ratio between burned and minted #SLP.
If we continue to print exponentially more, what you think will happen?
For the short term, SLP staking will solve the problem, but in the long run Im not so sure.
As long as the balance between supply and demands is not optimal, I'll remain skeptical and aware. #SLP desperately needs more usecases.
Perhaps one day, the breeding function will become fully distinct from the #AXS and completely replaced with #SLP. That should help increase burning %.
Regardless, I believe this is big step forward in terms of general #NFT adoption.
Fun times ahead, that's for sure