Axie Infinity Users Can Now Deposit Ronin-USDC on Binance

Axie Infinity is aiming to improve its health after Binance decided to accept assets directly from the RON network.
  • USDC is one of the most widely used tokens, active on the Katana DEX to trade AXS, SLP.
  • Axie Infinity Season 21 starts with an improved reward pool.

In another move to break free from the effects of the Ronin-ETH hack, Binance will now accept USDC deposits and withdrawals on the Ronin network. USDC, a dollar-pegged asset, was one of the tokens stolen from the Ronin-ETH bridge back in March. This move will improve the health of Axie Infinity, which indirectly suffered from the $630M loss.

The USDC remaining on the Ronin network were thus not backed by the same amount of USDC on Ethereum. Now, Binance has deemed it safe to accept and exchange the tokens. The value of the USDC is assured, as Sky Mavis has pledged to re-stock the bridge smart contract to match the stolen assets. 

With direct flows of USDC on the Ronin network, users will not even need to bridge their assets to fund Axie Infinity wallets. Binance continues to assist in finding and clawing back as much as possible from the lost funds. So far, the Binance exchange has blacklisted addresses and intercepted $5.8M in value.

Season 21 Kicks Off with Record Award Pool

The Axie Infinity Season 21 may be the last for this version of the game. This time, the prize pool for leaderboards will be at record levels, to distribute the equivalent of $5.2M. 

The prize pool is based on AXS valuation at $40, meaning a bull market will expand the prize and make the game even more appealing. After the announcement, AXS recovered to about $42.53. SLP inched up to $0.014, though it remains the chief AXS problem for in-game earnings. RON recovered to $1.21 after dipping to $1.15.

At current estimates, Axie Infinity has about 1.2M daily active users after the opening of the new season. The previous season saw about 2M daily active users, as Axie also enjoyed greater popularity. However, as the season progresses, daily active users may increase. The game will be more restrictive of multi-accounting, fixed matches and reusing high-ranked Axies to win rounds. Overall, Season 21 expects a more fair game with a higher round reward.

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