Axie Infinity is Introducing a New Decentralized Exchange

Axie Infinity, one of the popular play-to-earn games is taking blockchain gaming to the next level with the launch of a new decentralized exchange (DEX).

Axie Infinity is launching a new decentralized exchange (DEX). Axie Infinity decentralized exchange (DEX) will facilitate the trading of tokens and will be built on Ronin.
Axie Infinity DEX | Image: Optimisus

The announcement came in The Scoop podcast that featured Jeff Zirlin, Co-Founder and Growth Lead at Sky Mavis and The Block host. Based on the conversation, the exchange will facilitate the trading of tokens used within the Axie Infinity ecosystem.

Launched by Sky Maven, Axie Infinity enables users to buy, sell, and breed creatures called axies. Moreover, the play-to-earn game has become the most popular crypto project in the market in the Philippines, where players play the game to earn crypto that increases their existing income.

In addition, Axie Infinity, which has seen its user-base increase from 38,000 active users in April to roughly 1.7 million active users in August, has decreased its weekly volume from $220M from peak to $130M.

According to Jeff Zirlin, the Axie Infinity decentralized exchange (DEX) could help users keep playing the game as it will remove some difficulties that players face when they want to transfer their tokens for trading. Following this, Zirlin said that people want to earn and use their cryptos from the same place without having to use a bridge regularly.

Even more, he added that Axie Infinity DEX will be built on Ronin — an Ethereum-based chain built for Axie Infinity.

Recently, the project raised around $7.6 million in a financing round from investors, including billionaire entrepreneur Mark Cuban. Two days ago, Axie Infinity, introduced a staking program that allows players to stake their AXS tokens with rewards coming up soon.