After months of delays, Axie Infinity will enter a critical phase of its development.
The Axie Infinity team announced Thursday that it’s ready to enter Phase 2 in a few hours.
The team revealed that it will be deploying a major patch for its Origin game in the next few hours. The patch will officially put the project in Phase 2, marking the launch of its Ronin sidechain. However, Axie Infinity says the game will stop working until maintenance is complete.
After 2 hours and 50 minutes, we will deploy a large Origin patch, officially entering Phase 2.
Let’s keep going 🤝 pic.twitter.com/Hg0RYWwiZC
— Axie Infinity 🦇🔊 (@AxieInfinity) June 30, 2022
Phase 2 marks the launch of Axie Infinity’s Ronin Chain. The Ronin sidechain was originally scheduled to go live in April, but faced certain difficulties.
Ronin Bridge suffered a $625 million attack in March 2022. At the time, attackers stole 173,600 ether (ETH) and $25.5 million in USDC from the sidechain.
However, Sky Mavis, the development team behind Axie Infinity and Ronin Bridge, has taken certain measures, such as reducing token emissions, to prevent the collapse of the Axie Infinity ecosystem.
The Axie Infinity team reopened the bridge earlier this week. At the time, Axie Infinity said the bridge was restarted following an internal and external audit by blockchain security firms Verichains and Certik.
The Ronin Bridge is open!
• All user funds are fully backed 1:1 by Newbridge. • The bridge has undergone an internal audit and two external audits. • We are still on track to release Land Staking this week.
— Axie Infinity🦇🔊 (@AxieInfinity) June 28, 2022
Axie Infinity assures its community that all user funds are fully backed 1:1 by Newbridge.
The new Ronin bridge design includes a circuit breaker system as a contingency plan to improve bridge safety. The developers say the circuit breaker system is designed to stop a large number of suspicious withdrawals.
Bridges have become very popular in the cryptocurrency ecosystem. They are protocols that allow the exchange of assets such as data, cryptocurrencies or NFTs from one blockchain to another.
Through the Ronin Bridge, Axie Infinity users can transfer funds and other assets between Ethereum and the Ronin blockchain.
Axie Infinity’s native token, AXS, has been underperforming since the beginning of the week. AXS is down more than 13% in the past 24 hours and is currently trading at $13.20 per coin.