Axie Infinity’s SLP Currency Value Now Almost Zero
Crypto markets are crashing and it seems every other digital asset has been in the red for the longest time – including Axie Infinity’s Smooth Love Potions (SLP) which is now at a sob figure of zero. The currency has been going down, especially since the market is saturated by players rushing to the game. […]
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In this week's DeFi newsletter, we discuss Axie Inifnity's Ronin bridge hack, Binance's new Bridge 2.0 launch, the rise in DeFi TVL and more. The last week of March saw the decentralized finance (DeFi) market surge to new highs as institutional investors returned to the market. Amid the rising popularity of DeFi products, Axie Inifity’s Ronin bridge faced the worst hack in crypto history, raising security concerns for the market.MetaMask integrated Apple Pay support, allowing users to purchase crypto using their Apple Pay account directly, and Binance launched Bridge 2.0 to integrate CeFi....
Since the hack of Axie Infinity’s Ronin bridge, developers behind the game have raised $150 million to reimburse the affected users. In late March, Ronin, an Ethereum sidechain built for the popular play-to-earn nonfungible token game Axie Infinity, was hacked for over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) for a combined value of over $600 million. The breach on the Ronin bridge was confirmed by Sky Mavis, the developers behind the popular play-to-earn (P2E) game:There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP— Ronin (@Ronin_Network) March....
The developers are currently working on a security upgrade and plan to increase the number of validator groups to 21 before making Ronin Bridge live again. Sky Mavis, the creator of the popular play-to-earn nonfungible token game Axie Infinity has raised $150 million in a new funding round led by Binance. The fundraiser is aimed at reimbursing lost funds from the recent exploit on Axie Infinity’s Ronin bridge, resulting in losses of over $600 million. The funding round also saw participation from Animoca Brands, a16z, Dialectic, Paradigm and Accel.As Cointelegraph reported earlier, the....
Traders flock to the gaming cryptocurrency in the wake of a sector-wide price rally, but its gains are comparatively higher — much higher. The price of Axie Infinity’s native token, AXS, more than doubled in just three days of trading amid speculation that it is going to revolutionalize the blockchain-enabled gaming industry forever.The AXS/USD exchange rate reached a record value of $32.69 on Friday, up 31.28% intraday, and about 131% from its Tuesday low of $14.09. That placed the pair in the list of best-performing digital assets on a year-to-date timeframe; its 2021 gains are now above....
Can Axie Infinity rise to its former glory, as a form of “extreme entrepreneurship” where success can happen overnight, amid the crypto winter and uncertain global economy? Axie Infinity, the blockchain-based game that has popularized the play-to-earn gaming model, often invites awe and suspicion. The game has created a new type of job market and allows a quick return for game investors. However, its highly volatile in-game crypto (the Smooth Love Potion, or SLP), the hacking of its Ronin chain, and the resulting new digital inequality pose threats to its existence. Axie is a form of....