What Is Ronin (RON)?
Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.
In its first nine months, Ronin has racked up 250,000 unique daily active addresses, $5 billion in TVL, over 2 million wallet downloads, and 15% of all NFT transactions on the market. Its DEX Katana is the second-most popular decentralized exchange by weekly active users and allows users to swap tokens within the Axie Infinity ecosystem.
Who Are the Creators of Ronin?
Ronin was created by Sky Mavis, the team behind Axie Infinity and backed by top investors like Accel, a16z, Binance Labs, Animoca Brands, Paradigm, Libertus, Mark Cuban. Cofounders include Jeffrey Zirlin and Alexander Leonard Larsen.
What Makes Ronin Unique?
Ronin is battle tested and scalable. In 2021 the Ronin processed 15% of all NFT trading volume and is the home of all Axie Infinity assets - Axies, Land, SLP and AXS. Ronin is second only to Ethereum when it comes to NFT sales by volume. While there are many other chains available, Ronin is the only platform proven to scale a single game to accommodate millions of daily users.
Ronin is hyper optimized for gaming and cuts out the bloat found in other permissionless blockchains. We put in effort to curate high quality apps and ensure there is minimal spam and high uptime for games.
Ronin is environmentally friendly compared to other chains. For comparison, one Bitcoin transaction uses as much energy as 695,505,316.31 Ronin transactions.
Ronin is backed by Sky Mavis, the creators of the #1 NFT project by adoption and all-time volume, Axie Infinity. Sky Mavis’ experience building and scaling Axie Infinity has given them unique insights into product development, community building, and go-to-market which can be leveraged by partners deploying on the network. Sky Mavis offers advisory support and grants to help reduce risk and improve odds of success for games looking to launch.
Ronin is secure. Due to Ronin’s massive traction and being pioneers in the space, Sky Mavis has been one of the first companies to face scaling roadblocks and security threats ahead of the rest of the market. In March 2022, Sky Mavis experienced The Ronin Validator Breach, where 173,600 ETH and 25.5M USDC were drained from the Ronin bridge. This breach was not due to a technical flaw, but a socially engineered attack by an elite group of hackers. This incident led Sky Mavis to become a fully antifragile, zero-trust organization. Sky Mavis has implemented rigorous internal security measures to prevent future attacks. All code has been fully reviewed and optimized, with security experts auditing the entire architecture. Audit information and security upgrade details can be found here.
Related Pages:
Check out Axie Infinity (AXS)— the governance token for the Axie Infinity game.
Check out Smooth Love Potion (SLP) — the in-game token of Axie Infinity.
Check out Wrapped Ronin (WRON) — the wrapped ERC20 version of Ronin tokens.
Learn about what the Metaverse is.
Get the latest crypto news and latest trading insights with the CoinMarketCap blog.
How Many Ronin (RON) Coins Are There in Circulation?
RON was launched through a pool on its native Katana DEX without any private sales conducted and will be distributed through an incentivized liquidity program. Issuance will be reduced every quarter, and the total supply of RON is capped at 1 billion and will be reached 108 months after issuance begins.
RON is distributed as follows:
- Rewards (25%): staking and bridge incentives
- Community (30%): liquidity mining, content creation, rewards programs, grants, and hackathons.
- Team (30%): Sky Mavis
- Ecosystem fund (15%): grants, investments, and hackathons bringing game-changing content, applications, and tooling to Ronin.
Refer to the Whitepaper for more info: https://docs.roninchain.com/basics/tokenomics
Where Can You Buy Ronin (RON)?
RON is available on Katana DEX, OKX, and many other avenues. Refer to Guide on Buying RON
If you want to learn more about how to start buying cryptocurrencies, you can read more in our guide.