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Phil Hall
Phil Hall
Feb 2, 2022
News

RON is Live — Here is the Future of the Ronin Blockchain

Sky Mavis, the team behind Axie Infinity, now confirmed the launch of RON, the very own crypto for the Ronin Blockchain Network.
RON is Live — Here is the Future of the Ronin Blockchain

Ronin has been offering free transactions since the very beginning, amassing 4 million downloads across the globe. Sky Mavis, the team behind Axie Infinity, now confirmed the launch of RON, the very own token for the Ronin Blockchain Network.

What's RON

https://www.youtube.com/watch?v=OevZhsg7YY8

RON is the ecosystem token of the Ronin blockchain. Holders of $RON will be able to stake their $RON tokens with a validator to earn $RON rewards and participate in the governance of the network. Fee structure and use of the RON treasury are potential governance topics. The maximum supply of RON is 1,000,000,000 and will be reached 294 months after issuance begins.

The supply is distributed as follows:

Allocated ToToken Amount% of Supply
Sky Mavis300,000,00030
Community300,000,00030
Staking Rewards250,000,00025
Ecosystem Fund150,000,00015

More details over the RON token are accessible in the official Litepaper.

In order to buy RON, users must go to the official Ronin decentralized exchange -- Katana (full guide) -- to swap tokens for RON.

Currently, the only available tokens for swap are WETH, AXS, SLP, and USDC.

What Changes For The Ronin Blockchain

Obviously, the biggest change will be gas fees. Gas fees will be paid in $RON, and users will no longer get 100 free daily transactions.

However, Sky Mavis did confirm gas reductions for NFT holders and a one-time advantage for those who get into Ronin for the first time.

Being the second most important blockchain for NFT holders, sustaining Ronin is not an easy feat and we're glad to see Sky Mavis didn't completely abandon the concept of low fees.

Let's get to it:

  • New users will get 20 free transactions, no fees. This is a one-time allocation, and once you finish the free transactions you'll start paying fees in RON;
  • Holders of Axies or Axie Infinity Lands will get a set amount of free transactions each day. Daily limits reset every 24 hours and will NOT stake from one day to another. For example, if you don't spend 3 free transactions on Monday, you won't be able to use 7 on Tuesday;
  • To further develop the demand for RON, Sky Mavis is setting up a RON/ETH pool with high rewards;
  • Sky Mavis, along with RON, also announced Scatter, a new solution to send RON to multiple wallets at once (very useful for Scholarships).

Free Transactions For NFT Holders

NFT holders in the Ronin Ecosystem get free transactions daily.

Free transactions from Axie holders

1 Normal Axie3 free tx/day
1 MEO Axie10 free tx/day
1 Origin Axie100 free tx/day
1 Mystic Axie500 free tx/day

Free transactions for Axie Infinity land owners

1 Savannah Land20 free tx/day
1 Forest Land60 free tx/day
1 Arctic Land180 free tx/day
1 Mystic Land350 free tx/day

These benefits will be adjusted moving on, as Sky Mavis already confirmed in the launch articles. They're incentives to make the transition smoother but can't last forever.

We're excited to see Sky Mavis develop Ronin further, and we're confident this can lead to more developers creating dApps, especially blockchain games, on Ronin Blockchain.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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