Ronin Network Introduces $RON: What is it?

$RON is the native token of the Ronin Network, the side chain developed by the creators of PlayToEarn blockchain project Axie Infinity.

$RON in Ronin

$RON, a token that Axie Infinity players were farming since November of 2021, was recently released to the community.

$RON is designed as an ecosystem token to decentralize the Ronin Network, an Ethereum sidechain developed by Sky Mavis as a scaling solution for the Axie Infinity game. In a tweet on January 17, the Ronin Network highlighted some of its achievements.

“We are Ronin. 250,000 unique active addresses/ Katana, Ronin’s Dex, is the #2 dex by weekly active users. 5 B in deposited value. 15% of all NFT transactions in 2021 happened on Ronin. 2.5 M Ronin wallet downloads.” Ronin Network tweeted.

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The Ronin Network is where the popular PlayToEarn game, Axie Infinity, is built on. $RON There is a total of 1,000,000,000 supply of $RON that is further allocated between Sky Mavis, and the community. Both of the two parties mentioned will have a 30% share of the supply, 25% goes to staking rewards while the 15% that’s left is for an Ecosystem Fund. The token isn’t sold as part of an IDO, but will be distributed through an incentivized liquidity program. 

$RON will mainly be used for gas fees within the Ronin Network. $RON is also the key in decentralizing the Ronin Network. Sky Mavis plans to have at least ten validators outside of Sky Mavis while having three external teams building NFT experiences on top of the Ronin Ecosystem as its first phase towards decentralization.

Environmental Friendly

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The team believes that the future success of the Ronin ecosystem hinges on its environmental sustainability. The network needs less machines to secure it, making it cheaper and faster, and more environmentally friendly. The Ronin Network is in a position to take a proactive approach to setting environmental standards within the NFT gaming industry.

Read more about $RON and the Ronin Network through their litepaper.

Source : bsc.news

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