What is Ronin (RON)?
RON is the native coin of Ronin, which is an Ethereum-based sidechain developed by Sky Mavis. It was initially designed for running the Axie Infinity game. Axie Infinity is a popular NFT-based game. Check out the current (or previous) RON price on the Ronin price chart that is featured above.
The Ronin network offers the Ronin Bridge. It allows Axie Infinity players to exchange ETH coins for AXS tokens and vice versa. Besides that, the Ronin network has its own decentralized exchange (DEX) called Katana. It provides traders with the possibility of exchanging tokens within the ecosystem of Axie Infinity.
The goal of Sky Mavis is to make Ronin the go-to place to release NFT-based games from other creators, as well as Axie Infinity-related games. Over all Ethereum NFT scaling solutions put together, Ronin manages the highest NFT volume.
The consensus mechanism employed by Ronin is the Proof-of-Authority (PoA). It relies on well-known and reputable validators to produce new blocks. Ubisoft, Binance, and Animoca Brands are some of the validators of Ronin. PoA utilizes the Byzantine Fault Tolerance (BFT) algorithm in order to hold identity as a stake.
The Founders of Ronin
The company behind the Ronin crypto project is the Sky Mavis game studio. To represent their quest for independence, the Ethereum sidechain was given the name Ronin, in honor of the legendary samurai without a master in feudal Japan.
Sky Mavis was founded in 2018 by Trung Nguyen, Aleksander Larsen, and Jeffrey Zirlin.
Aleksander Larsen formerly worked at the Norwegian Government Security Organization before launching the Sky Mavis studio. He started working in the cryptocurrency gaming sector in 2017. Additionally, he serves as the Blockchain Game Alliance's Secretary of the Board of Directors.
Trung Nguyen has a degree in computer software engineering. In the past, he worked at Anduin Transactions as a software engineer. Besides that, he also worked at Trusting Social and co-founded Lozi.
Jeffrey Zirlin has a degree in history. There’s no information about his work experiences before co-founding Sky Mavis.
The Purpose of RON Coins
The primary use case of Ronin tokens is to pay for transaction fees on the Ronin network.
Also, users were able to earn RON tokens as part of the SLP and AXS token liquidity mining on the Katana DEX, which took place throughout 2022.
Besides that, RON tokens can be staked, this way passively generating more tokens.
Tokenomics of RON
The max supply of Ronin coins is 1 billion. The coins were launched through a liquidity pool on Katana. 30% of the RON token supply is dedicated to incentivizing the Ronin community. This includes various reward and grant programs, liquidity mining rewards, and so on. Another 25% is dedicated to RON token staking rewards. The remaining portion is split between the team and the Ronin ecosystem fund.
If you've decided that you want to invest in RON, it would be wise to analyze the Ronin price patterns to see how they changed over time. You can do that on the aforementioned RON price chart above.
