5/17/2023 0 Comments Nine axie infinity ethIn April 2022 Axie Infinity announced a 150 million USD funding round led by Binance with participation from Animoca Brands, a16z, Dialectic, and Paradigm. It was considered to be the largest crypto heist to date, totaling a stolen amount of $625 million at the current market value then. On the 23rd March 2022, Sky Mavis’ Ronin validator nodes and Axie DAO validator nodes were compromised resulting in 173,600 Ethereum and 25.5 million USDC drained from the Ronin bridge. The successful migration followed a 1,000% rally in the price of SLP and 83% in AXS. Ronin was designed by the Axie team to support almost instant transaction confirmations, reduced gas fees, and help scale the game further. Users were asked to migrate NFT tokens, including Axies, Land, and other in-game item tokens, ETH/AXS/SLP to Ronin to continue engaging with the protocol. On April 28, 2021, Axie Infinity completed its migration to Ronin, a custom-built sidechain on Ethereum that was originally announced in June of 2020. The game allows players to build up a collection of Axies and use them across an ever-expanding universe of games, players also battle with one another to earn SLP tokens during gameplay and trade them for money. It was built on the Ethereum blockchain but currently runs on Ronin, an Ethereum sidechain, designed specifically for the Axie Infinity community to support scaling and a smoother gameplay experience for a large number of users. Axie Infinity (founded in 2018) is a play-to-earn Non-Fungible Token (NFT) game developed by Sky Mavis.
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