Ronin is an EVM blockchain designed specifically for gaming purposes. Developed by Sky Mavis, the team behind the popular Web3 game Axie Infinity, which has earned more than $1.3 billion in revenue, Ronin stands as the only blockchain capable of scaling a single game to support millions of daily active users. It has processed over $4 billion in NFT transactions. Ronin's structure ensures almost instantaneous transactions with minimal fees, facilitating millions of seamless in-game transactions, making it the top choice for Web3 gaming experiences.
In its initial nine months of operation, Ronin achieved impressive milestones: 250,000 unique daily active addresses, $5 billion in total value locked (TVL), over 2 million wallet downloads, and accounted for 15% of all NFT transactions. Its decentralized exchange, Katana, ranks as the second most popular DEX by weekly active users, enabling token swapping within the Axie Infinity world.
Who Are the Creators of Ronin?
Ronin was developed by Sky Mavis, the team that also created Axie Infinity, with backing from leading investors such as Accel, a16z, Binance Labs, Animoca Brands, Paradigm, Libertus, and Mark Cuban. The cofounders are Jeffrey Zirlin and Alexander Leonard Larsen.
What Makes Ronin Unique?
Ronin is both battle-tested and highly scalable. In 2021, it handled 15% of all NFT trading volumes and serves as the hub for all Axie Infinity assets, including Axies, Land, SLP, and AXS. It ranks second only to Ethereum in terms of NFT sales volume. While many blockchains exist, Ronin is the sole platform proven to scale a single game to accommodate millions of active users.
The platform is fine-tuned specifically for gaming, eliminating unnecessary elements often found in other blockchains. It commits to curating high-quality applications, minimizing spam, and ensuring high uptime for games.
Ronin is also environmentally friendly when compared to other blockchains. To illustrate, a single Bitcoin transaction uses as much energy as 695,505,316.31 Ronin transactions.
Sky Mavis, the creators of the top NFT project in terms of adoption and volume, Axie Infinity, back Ronin. Their extensive experience with building and scaling Axie Infinity provides them with unique insights into product development, community building, and market strategies, which they leverage to assist partners launching on the network. They offer advisory support and grants to help mitigate risks and boost success rates for new games.
Ronin is built with robust security. Due to its significant growth and being early movers in the space, Sky Mavis faced scaling challenges and security threats before many others in the market. In March 2022, a significant breach occurred where 173,600 ETH and 25.5M USDC were stolen from the Ronin bridge. This incident was a result of a socially engineered attack rather than a technical flaw, carried out by a sophisticated group of hackers. Following this event, Sky Mavis transitioned into a fully antifragile, zero-trust organization. They have introduced stringent internal security protocols to thwart future attacks. The entire codebase has been thoroughly reviewed, optimized, and scrutinized by security experts. Detailed audit reports and security updates are available.
How Many Ronin (RON) Coins Are There in Circulation?
RON was introduced via a pool on its native Katana DEX without any private sales, and it will be allocated through an incentivized liquidity program. The issuance of RON will decrease every quarter, with the total supply capped at 1 billion, to be fully reached 108 months after the issuance begins.
RON distribution is as follows:
* Rewards (25%): Includes staking and bridge incentives.
* Community (30%): Allocation for liquidity mining, content creation, rewards, grants, and hackathons.
* Team (30%): Reserved for Sky Mavis.
* Ecosystem fund (15%): Used for grants, investments, and hackathons aimed at bringing innovative content, applications, and tools to Ronin.
For more details, check the Whitepaper: https://docs.roninchain.com/basics/tokenomics
Where Can You Buy Ronin (RON)?
RON can be purchased on Katana DEX, OKX, and several other platforms.
Check the Guide on Buying RON
For those interested in starting with cryptocurrency purchases, our guide offers more information.
