The waiting period is over as Sky Mavis has officially released the ecosystem token, $RON.
A RON/ETH Pool with $RON rewards went live moments ago with 500,000 $RON per day in rewards until February 3rd.
What’s the use case of $RON?
The new Ronin token will be used to as gas fee for the Ronin chain transactions and Axie/Land holders enjoy a number of free transactions per day.
As an ecosystem token, developers who take advantage of Axie’s builder program will use the $RON token for on-chain transactions, with expectations to be high.
$RON token has one billion total supply with 30% reserved for Sky Mavis, 30% for the community, 25% for Staking Rewards and the rest 15% as the Ecosystem Fund.
Ronin will use a system of Validators where users can stake their tokens to, with increased incentives to participate.
9 months after release and prior to token launch, Ronin has seen some incredible adoption rates as:
- 250,000 unique daily active addresses.
- Katana, Ronin’s Dex, ranks in second player based on weekly active users.
- $5 Billion in deposited value.
- 15% of all NFT transactions in 2021 happened on Ronin.
- Over 2 Million Ronin wallet downloads.