How to Swap Tokens on Katana DEX: A Step-by-Step Guide

Swapping tokens on Katana DEX is a fundamental skill for anyone involved in the Ronin ecosystem. Whether you’re an Axie Infinity player looking to convert your SLP rewards or a crypto enthusiast wanting to diversify your holdings, Katana provides a fast and efficient way to exchange tokens without leaving the Ronin network. In this comprehensive guide, I’ll walk you through the entire process of swapping tokens on Katana, from connecting your wallet to confirming your transaction.

What is Katana DEX?

Katana is the official decentralized exchange (DEX) built on the Ronin blockchain. Launched by Sky Mavis, the team behind Axie Infinity, Katana allows users to swap between various tokens in the ecosystem without having to bridge assets to other networks. This saves time and reduces gas fees compared to using exchanges on the Ethereum mainnet.

As an automated market maker (AMM), Katana uses liquidity pools rather than an order book to facilitate trades. This means that when you swap tokens on Katana, you’re trading against a pool of tokens provided by liquidity providers, who earn fees from each swap.

The main advantage of using Katana is that all transactions happen within the Ronin ecosystem, eliminating the need for costly and time-consuming bridge transactions to Ethereum. This makes token swapping much more accessible for Axie Infinity players and other Ronin users.

What You Need Before Swapping Tokens on Katana

Before you can start swapping tokens on Katana, you’ll need to have a few things in place:

• A Ronin Wallet installed and set up (browser extension or mobile app)
• Some RON tokens for gas fees (transactions on Ronin require minimal RON)
• Tokens that you want to swap (WETH, AXS, SLP, USDC, etc.)
• Access to the official Katana DEX website: https://katana.so/

If you don’t have a Ronin Wallet yet, you’ll need to install it from the official Ronin website. For mobile users, the Ronin Wallet app is available on both iOS and Android app stores.

Step 1: Connect Your Ronin Wallet to Katana

The first step to swap tokens on Katana is connecting your Ronin Wallet to the platform:

1. Visit the official Katana DEX website at https://katana.so/#/swap
2. Click on the “Connect Ronin Wallet” button in the top right corner of the screen
3. A popup will appear from your Ronin Wallet extension asking for permission to connect
4. Review the connection request and click “Connect” to approve
5. Once connected, you’ll see your wallet address displayed in the top right corner

If you’re using the mobile app, the process is similar. Open the Ronin Wallet app, navigate to the DApps section, and search for “Katana” to connect directly from your mobile device.

Step 2: Select the Tokens You Want to Swap

Once your wallet is connected, you’ll need to select which tokens you want to swap:

1. On the swap interface, you’ll see two token selection boxes
2. The top box represents the token you want to swap from (the token you currently have)
3. The bottom box represents the token you want to swap to (the token you want to receive)
4. Click on either box to open a dropdown menu of available tokens
5. Select your desired tokens from the lists

Katana currently supports the following tokens for swapping:

• WETH (Wrapped Ethereum)
• AXS (Axie Infinity Shards)
• SLP (Smooth Love Potion)
• USDC (USD Coin)
• RON (Ronin’s native token)

The most common trading pairs on Katana are AXS/WETH, SLP/WETH, WETH/USDC, and RON/WETH. However, you can swap between any supported tokens, and Katana will find the most efficient route for your swap.

Step 3: Enter the Amount to Swap

After selecting your tokens, you’ll need to specify how much you want to swap:

1. Enter the amount of the token you want to swap in the top input field
2. The equivalent amount of the token you’ll receive will automatically be calculated and displayed in the bottom field
3. Alternatively, you can enter the amount you want to receive in the bottom field, and the required input amount will be calculated
4. If you want to use your entire balance, click the “MAX” button next to the input field

As you enter the amount, Katana will display the current exchange rate between the two tokens below the input fields. This gives you an idea of what to expect from the swap.

Step 4: Review Swap Details and Set Slippage Tolerance

Before confirming your swap, it’s important to review the details and understand a few key concepts:

Key Swap Parameters to Review:

• Price Impact: This shows how much your trade will affect the market price. Larger trades typically have higher price impact, which can reduce the efficiency of your swap.
• Slippage Tolerance: This is the maximum price change you’re willing to accept between when you submit the transaction and when it’s confirmed. You can adjust this by clicking the settings icon.
• Minimum Received: Based on your slippage tolerance, this is the minimum amount of tokens you’ll receive. If the price moves beyond your slippage tolerance, the transaction will fail rather than giving you less than this amount.
• Liquidity Provider Fee: This is the fee paid to liquidity providers for facilitating your swap. In Katana V2 pools, this is typically 0.3% (0.25% to LPs and 0.05% to the Ronin Treasury).
• Route: This shows the path your swap will take. Some swaps might go through an intermediary token to get the best rate.

To adjust your slippage tolerance:

1. Click the settings icon (gear symbol) above the swap interface
2. Set your desired slippage tolerance (default is usually 0.5%)
3. Click outside the settings box to save

Step 5: Confirm the Swap

Once you’ve reviewed all the details and are satisfied with the swap parameters:

1. Click the “Swap” button at the bottom of the interface
2. A confirmation popup will appear with all the swap details
3. Review the information one last time
4. Click “Confirm Swap” in the popup
5. Your Ronin Wallet will prompt you to confirm the transaction
6. Review the transaction in your wallet and click “Confirm”

After confirming, your transaction will be submitted to the Ronin blockchain. This process usually takes just a few seconds to complete, though it may take longer during periods of high network activity.

Once the transaction is confirmed, you’ll see a success message, and your new tokens will appear in your wallet balance. You can also click “View on explorer” to see the detailed transaction information on the Ronin Explorer.

Alternative Method: Using Wallet Swap Feature

If you prefer to swap tokens directly from your Ronin Wallet without visiting the Katana website, you can use the Wallet Swap feature:

For Mobile App Users:

1. Open your Ronin Wallet mobile app
2. Tap on “DAPPS” at the bottom of the screen
3. Search for “Swap” and select it
4. Choose the tokens you want to swap from and to
5. Enter the amount you want to swap
6. Review the details and tap “Swap”
7. Confirm the transaction

For Browser Extension Users:

1. Open your Ronin Wallet extension
2. Click on the “Swap” tab
3. Select your tokens and enter the amount
4. Review and confirm the swap

Note that when using Wallet Swap, an additional development fee of 0.5% is added to the total fee in the output token. This is on top of the standard liquidity provider and treasury fees.

Common Issues and Troubleshooting

Security and Best Practices

When swapping tokens on Katana or any DEX, security should be your top priority:

• Verify the URL: Always ensure you’re on the official Katana website (https://katana.so/) before connecting your wallet. Bookmark the official site to avoid phishing attempts.
• Check Transaction Details: Always review the details before confirming any swap. Pay attention to the tokens, amounts, and fees.
• Protect Your Recovery Phrase: Never share your Ronin wallet recovery phrase with anyone. Store it securely offline.
• Start Small: If you’re new to Katana, start with small swaps to get comfortable with the process before moving larger amounts.
• Be Wary of High Slippage: High slippage settings can lead to significant losses. Only increase slippage when necessary and understand the risks.
• Disconnect After Use: Always disconnect your wallet from Katana when you’re done swapping to minimize security risks.

Conclusion: Start Swapping on Katana Today

Swapping tokens on Katana is a straightforward process once you understand the basics. By following this step-by-step guide, you can confidently exchange tokens within the Ronin ecosystem without having to bridge assets to other networks, saving time and gas fees.

Remember that Katana offers more than just token swapping. You can also provide liquidity to earn fees or participate in farming to earn additional rewards. As you become more comfortable with the basic swap functionality, consider exploring these advanced features to maximize your participation in the Ronin ecosystem.

Whether you’re an Axie Infinity player looking to convert your SLP rewards or a crypto enthusiast wanting to diversify your holdings on Ronin, Katana provides a fast, efficient, and user-friendly platform for all your token swapping needs.