One wallet to access tokens, marketplace, and staking
Sky Mavis has launched the Ronin Mobile Wallet, giving Axie Infinity users access to their crypto wallet on the Ronin sidechain simply by using their mobile phone. The latest product launch supporting the Axie Infinity ecosystem comes after a stellar month that saw on-chain activity increase 27% to 635.000 unique active wallets in October.
The new Ronin Mobile Wallet allows users to manage their NFT and token assets for Axie Infinity and the Ronin ecosystem. In the future, the wallet also needs to facilitate the ability to stake AXS and swap tokens on the Katana DEX. The introduction of this wallet will further increase activity in the ecosystem, which already saw a boost last month.
In October AXS staking brought lots of activity to Ronin according to the latest BGA Blockchain Game Report. Axie Infinity saw its user activity increase 27% that month, to more than 647.000 unique active wallets. Users are staking $2.89 billion worth of AXS, roughly 30% of the total circulating supply.
Using Ronin Mobile Wallet
Users can connect their Ronin Mobile Wallet to their existing wallet by scanning a QR code (never share this QR code) in the desktop browser application. They can then use their smartphone to visit the website of the Axie Infinity Marketplace. There they can log in using the Ronin Mobile Wallet. After pressing the login button, they will need to select the Ronin wallet as their login option. The wallet will open, and the user needs to confirm two transactions. When done, they can trade on the marketplace using the asset from the linked wallet.
The majority of Axie Infinity’s 2.5 million active players live in developing countries like The Philippines, Venezuela, and India. These are often users without access to banks, and those who rely strongly on their smartphones. Launching the Ronin Mobile Wallet gives those users more options to put their earned tokens to use. Go to the official Ronin Wallet website to download the wallet for iOS or Android smartphones.
The Axie economy takes place on Ronin
With 2.5 million players worldwide, the Axie Infinity ecosystem is a big one. Players need at least 3 Axie NFTs to play the game, and they earn SLP tokens for winning battles. These SLP tokens are also needed to create more Axies, creating a cycle of ask and demand. At the center of the game’s ecosystem is AXS, which users can now stake to earn passive income.
Since the launch of Ronin earlier this year all trading happens free of charge. Users don’t need to pay any transaction fees. However, this will change with the introduction of RON, the ecosystem’s governance token.
Users who provide tokens to facilitate trading on the decentralized exchange platform Katana, will earn RON tokens as a reward. Sky Mavis wants to distribute 10% of the total supply this way over a 90-day period. At the time of writing nobody can claim these rewards yet. Sky Mavis will enable claiming when they are ready to launch Ronin.
Hype in numbers
The launch of Katana and the RON rewards system has brought some excitement to the Axie community. Activity is spiking. In the past 7 days more than 391.000 unique active wallets connected with the Axie Infinity smart contracts, claiming their SLP rewards. That’s an increase of 27% week-over-week. Furthermore, Katana already attracted 186.000 wallets in less than 6 days. This already puts the DEX in the top 10 most active dapps in the entire blockchain ecosystem, according to the DappRadar Rankings.
The excitement doesn’t stop there, because Axie Infinity has seen $222 million in NFT trading in the past 7 days alone. That’s an increase of 81% compared with the week before. The number of traders increased 53%, reaching 282.000 unique active wallets that participated in these NFT trades as either a buyer or seller.