Introduction
After the RON launch on January 27, 2022, the Axie Infinity community has received it with a keen interest in order to collaborate with the Ronin ecosystem and receive rewards for it. Now the community is empowered to earn RON by providing liquidity to the Katana Dex.
What is RON?
Ron is the token of Ronin’s chain, which is used to facilitate transactions within Axie Infinity as well as all the future games or projects located at Ronin. RON main purpose is to guarantee that the Ronin Chain belongs to the community.
If you have not heard about Axie Infinity before, we have an article where we explain what it is and how to start playing step by step. But now, let’s keep learning about how to add liquidity to Katana Dex and earn RON.
Adding Liquidity
What is a liquidity pool?
Liquidity pools ensure that users that want to change their tokens for others will find someone who is able to match their price, so everyone is able to get fair prices when it comes to swapping tokens. RON has been created as a reward for the users who provide liquidity to the Katana Dex.
How to provide liquidity to Katana?
To provide Liquidity to Katana you have to provide two different assets which must be equal in value. The possible trading pairs are (from most popular to less):
- WETH/RON
- SLP/WETH
- AXS/WETH
- USDC/WETH
Steps to add a Liquidity Pair in Katana:
- First, go to https://katana.roninchain.com/#/pool and click on add liquidity
- Then, select the two assets that you want to add and the amount of each. Fill the value for one token and Katana will equally define the value of the other.
- Click supply to see the amount of LP tokens that you will receive.
- Finally, click again on “confirm supply” and in the wallet pop-up that will hit up. Congratulations, you’ve added liquidity to the Katana Dex! Now you’re contributing to making transactions possible within it.
- To check the trading fee earnings go to https://katana-analytics.roninchain.com/home and type your Ronin address.
How to farm RON tokens
To farm RON you need to stake the LP tokens earned by providing liquidity. here are the steps:
- Go to https://katana-analytics.roninchain.com/home
- Display the pair by clicking on the down arrow. Tap on the approve button if you already have LP tokens.
- Click on “stake”.
- Confirm the action.
And it’s done! Now you will earn free Wrapped RON tokens, which can be converted into RON.
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