What currency is Ronin Coin?

As the native currency of the popular Axie Infinity game, Ronin Coin (RON) serves as a utility token for in-game purchases, governance, and rewards, while its custom blockchain, the Ronin sidechain, optimizes transactions for faster gameplay and reduced gas fees.

Nov 21, 2024 at 02:02 pm

What Is Ronin Coin?

Introduction:
Ronin Coin is a blockchain-based gaming ecosystem that serves as the native currency for the popular play-to-earn game Axie Infinity. As one of the leading projects in the blockchain gaming industry, Ronin Coin has gained significant traction and adoption.

Understanding Ronin Coin:

• Purpose: Ronin Coin (RON) is the utility token used within the Axie Infinity gaming ecosystem. It serves multiple purposes, including:

  • In-Game Utility: Acquiring, breeding, and battling Axies (in-game creatures) within the Axie Infinity game.
  • Governance: Holding RON grants players voting rights in the Ronin DAO (Decentralized Autonomous Organization) that governs the network.
  • Rewards and Incentives: RON is used to reward players for participation in the Axie Infinity ecosystem, such as completing quests and winning battles.

• Blockchain Technology: Ronin Coin is built on the Ronin sidechain, a custom blockchain designed specifically for Axie Infinity. The Ronin sidechain provides several advantages, including:

  • Faster Transactions: Optimized for high transaction throughput, enabling rapid and inexpensive transactions within the Axie Infinity gameplay.
  • Reduced Gas Fees: Lower transaction fees compared to the Ethereum mainnet, making gameplay more accessible to users.
  • Improved Security: Dedicated infrastructure and security measures enhance the overall security of the Ronin Coin ecosystem.

• Tokenomics: The total supply of Ronin Coin is 1 billion RON, with a circulating supply of approximately 690 million RON. The token distribution is as follows:

  • Play-to-Earn Rewards (51%): Used to incentivize players and support the growth of the Axie Infinity ecosystem.
  • Axie Infinity Foundation (20%): Allocated to fund development, research, and community initiatives.
  • Investors (18%): Seed investors and backers who supported the project's early development.
  • Team and Advisors (8%): Rewarded for their contributions to the project's success.
  • Public Sale (3%): Sold to the public through token sale events.

• Future Development: The Axie Infinity team is actively working on the development and expansion of the Ronin Coin ecosystem, including:

  • Integration with Other Games: Exploring collaborations and partnerships to extend the utility of RON to other blockchain games.
  • DeFi Applications: Investigating the development of DeFi applications built on the Ronin sidechain, such as lending, borrowing, and yield farming.
  • Cross-Chain Interoperability: Exploring interoperability solutions to facilitate transfers and exchange of RON with other blockchains.