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RON Is Live!
• RON is live! You can now claim your RON tokens here.
• Read the RON litepaper here.
• RON is now used to pay for transactions on Ronin! Users will receive free transactions for holding Axies and/or land in their Ronin wallets.
• A RON/ETH pool with RON rewards is now live!
Crossing The Chasm
Sky Mavis' mission is to create engaging, fun, and rewarding game experiences for everyone. We believe this is best enabled on top of open, decentralized foundations that allow everyone to collectively contribute, work together, and prosper as a community. Ronin is a core component of that foundation, built in response to considerable transactional bottlenecks experienced while building and scaling our Axie Infinity over the past four years.
While our ambitions for Axie Infinity are massive, we believe we can only truly achieve our mission by working in solidarity with the next generation of NFT game developers to also unlock their creative visions. We're excited to collaborate with the industry to create a broad based gaming ecosystem that shares a massive user base, community owned protocols, applications, and deep asset liquidity. Therefore, in many ways, today’s release of the RON token and our Ronin strategy is a significant milestone for our industry.
We recognize that game developers need a battle-tested NFT scaling solution to reach broad, diverse audiences. Ronin has a unique opportunity to support this nascent industry as:
Network effects created by Axie Infinity are strong and growing stronger by the week. We believe this will continue to establish Ronin as the default NFT scaling solution for gaming. The Ronin wallet has been downloaded over 4 million times.
Ronin is operational and quickly becoming battle-tested. Today, Ronin handles more NFT volume than all other NFT scaling solutions combined. In 2021, Ronin processed 15% of all NFT volume.
The Ronin bridge is currently the third largest bridge by total volume transferred, right behind Polygon and Avalanche.
Nansen recently published a data-centric overview of Ronin here.
Third Party & Community Development
We intend to open Ronin to the next generation of builders and game developers. We’ve created an ecosystem fund of RON tokens to align incentives for those who commit to work alongside us. On-boarding developers and other gaming teams will be a deliberate ongoing process. As you all have witnessed over the last year, managing scale is complex, and we feel the need to be conservative with Ronin block space to ensure ample room for the growth of our cornerstone Axie franchise. This said, we are building towards a future behind the scenes where Sky Mavis is just one of many dedicated builders on the Ronin chain!
We plan on launching our first builder incentive program in the coming weeks, stay tuned!
RON is the governance token for the Ronin blockchain. Its main purpose is to secure and decentralize the network. Ronin will thrive if RON is in the hands of the builders and users of the network.
Ronin validators will need to hold and stake RON to participate in validating blocks. They will be rewarded with newly issued RON and RON used for gas fees. This RON will be divided up among a validator and its delegates pro-rata based on the RON they have staked with the validator. The validator may also elect to take a fee from its delegates.
Holders of RON will be able to stake their RON tokens with a validator to earn RON rewards and participate in governance of the network. Fee structure and use of the RON treasury are potential governance topics.
RON/ETH on Katana
To help establish a market for RON, we have launched a RON/ETH liquidity pool on Katana.
This pool will receive 500,000 RON in rewards per day until February 3rd starting in 24 hours (January 28th at 8 PM GMT +7).
On February third (February 3, 2022), we will be launching a new reward structure for the AXS/ETH, SLP/ETH, and RON/ETH pools:
AXS/ETH: 24,169.18 RON per day
SLP/ETH: 132,930.51 RON per day
RON/ETH: 84,592.15 RON per day
This structure will last until December 31st, 2022.
Gas on Ronin
RON’s release will increase the stability of the Ronin chain. RON will now be used to pay for gas fees which will result in a huge reduction in dropped transactions. It also means that accounts will be able to submit more than 100 transactions per day!
As a reward to our NFT owners, we have also created a system where Axie and land owners will be granted free transactions based on the assets they own in their wallets.
This system will launch later this week (perhaps as early as today).
Free transactions from holding Axies:
1 Normal Axie: 3 free tx/day
1 MEO Axie: 10 free tx/day
1 Origin Axie: 100 free tx/day
1 Mystic Axie: 500 free tx/day
Free transactions from holding land:
1 Savannah Land: 20 free tx/day
1 Forest Land: 60 tx/day
1 Arctic land: 180 tx/day
1 Mystic Land: 350 tx/day
Please note that all accounts (both old and new) will start with 20 free transactions to usher in this new era.* This program will be adjusted and scaled down over time but has been implemented to allow for a smoother transition into this new era.
A new application called scatter has joined Ronin! Scatter can be used to send RON and tokens to many addresses at once! This can be helpful with anything from scholarship payouts, tournament payouts, and giveaways!
Use it here.
We’re ecstatic about what we’ve accomplished together on Ronin. Let’s keep pushing to make sure that the future of gaming, the future of the internet remains full of freedom, property rights, and fun! Each one of you is an important missionary, whether you’re a competitive battler, community developer, artist, content creator, or collector-- you all have an important and crucial role to play in this movement.
This is not going to be an easy journey, but we are going to work together, listen to our community, and make sure that the principles of co-ownership, co-creation, and rewarding contributions remain the bedrock upon which we build on top of.
* If you run out of free transactions, you’ll need to create a new account, buy RON, and send it to the stuck account.