AXS Key Metrics Overview Following Ronin Network’s Bridge Exploit

IntoTheBlock brings us a blockchain analysis of the recent over $600 million Ronin exploit. Around the end of 2020, crypto started to develop a new sector with growing interest that was attracting many users. This was the “play-to-earn” games sector. One of the pioneers and leaders in the space was Sky Mavis, with their product Axie Infinity. The game runs in the Ronin Network, an Ethereum side chain. This enabled users to have fast and seamless transactions with a significant reduction in gas fees, plus almost instant confirmation empowered the game experience. Sky Mavis had good product market fit and encountered exponential growth. In order for players to reach the Ronin Network, they use the Ronin Bridge.

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