Since the last article published entitled ‘Playing Axie Infinity vs Minimum Basic Salary in the Philippines’, many changes have occurred in the Axie Infinity metaverse. Throughout 2021, Sky Mavis has released several updates for Axie Infinity and the Ronin Network to serve its community in better and convenient ways. Now that Axie Infinity Origin is here, what is in store for Axie enthusiasts this 2022? What benefits will the game bring this year?
While Using Katana DEX
Table of Contents.
- 1 While Using Katana DEX
- 2 While in the Marketplace
- 3 While Using AXS Staking Dashboard
- 4 While Playing Axie Infinity: Origin
Swap SLP to AXS, WETH, or RON
As Axie Trainers are rewarded with Smooth Love Potions (SLPs) for every win, SLPs can be swapped into Axie Token (AXS), Wrapped Ethereum (WETH) and Ronin (RON). (Note that as of April 11, 2022, SLP rewards are not yet available on Origin.)
RON is used for all transactions inside the Ronin sidechain as gas fees. It is essential for scholars to have RON on their accounts to be able to send their earnings to centralized exchanges (CEXs) like Binance, Coins.ph, and PDAX.
AXS serves as the governance token for Axie Infinity and anyone holding this, thanks to decentralization, will have the voting power in every decision needed to be made for the game. This can also be used to breed Axies, and to farm RON. While WETH is used for purchasing Axies in the marketplace, both are important in the ecosystem and also potentially earn greater compared to just holding SLP when the market is up.
USDC is a stablecoin that can be used to retain the value of the token when the market goes down or is bearish.
Become a Liquidity Provider
This is the pool of funds locked within the smart contract. Anyone can add funds to it to ensure that there is enough for others who are trying to swap. These people who add funds to the pool are called Liquidity Providers (LP) and they will receive rewards in the form of fees for their contributions to the pool.
For more guide to providing liquidity, Ron Token Axie Infinity Guide | How to Farm and Earn Ron with SLP, AXS, WETH, Stake, Add Liquidity Pool on Ronin.
RON Farming and HODLING
Farming and HODLing RON is essential to the ecosystem of the sidechain and RON is used as gas fees for all transactions within the Ronin network, either using Katana, the marketplace or game related transactions.
While in the Marketplace
Breed or Flip Axies for WETH
For those who have their Axies and who want to flip their unused Axies or breed Axies in exchange for WETH, the marketplace is the right place to do secured transactions with. Select the Axie desired to be sold in the market. Click on Sell. Choose either Fixed Price or For Bidding. Bidding requires a price range the seller desires to receive, either ascending or descending in value, for a period of time. As soon as the Axie is bought, WETH will be added to the Ronin wallet.
Flip Land or Land Items
Land and land items, too, can be flipped in the marketplace. Many enthusiasts are looking forward to land gameplay and the competition to get a hold of land is surely felt amongst Axie Infinity players.
Land items can be earned for releasing Axies to the wild or bought in the marketplace and later be sold to earn more WETH.
While Using AXS Staking Dashboard
Earn AXS Staking Rewards
With the introduction of the AXS Staking Dashboard of Sky Mavis, it becomes easier for AXS holders to gain profile as they stake their AXS token and wait for the reward after 24 hours to reinvest the rewards to gain greater profits each day.
See guide on How to Stake AXS in Axie Infinity.
While Playing Axie Infinity: Origin
Earn AXS in the Leaderboards
Sky Mavis has encouraged Axie trainers to do their best in the leaderboard by extending the range of ranks that will receive AXS tokens as reward, to bring more competitiveness in the game and for all gamers to be part of the governance of soon-to-come decentralized autonomous organization (DAO) for Axie Infinity. But as all are waiting for the DAO, the AXS token can be staked to gain more profit.
Note that AXS earning is not yet available in Origin.
Learn Crypto Trading
During free time, Axie enthusiasts can also learn how to trade cryptocurrencies from notable financial advisors online or through books about trading and on how to read trade charts. It is another skill that enthusiasts can learn to further expand their knowledge about different cryptocurrencies aside from what Sky Mavis can offer and to utilize their CEXs and invest on other profitable cryptocurrencies available in the market. Again, due diligence in researching is a must in investing into any cryptocurrency and invest only to the amount willing to lose.
With the available tools for Axie Infinity users, surely, they can find ways to multiply their SLP earning and profit in different ways possible. Diversifying their earning by swapping SLP to AXS, RON and other cryptocurrencies, this can benefit them in the long run.
This article is published on BitPinas: How to Play to Earn in Axie Infinity in 2022
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.