The much-awaited RON token has landed on Ronin. The native token for the Ronin sidechain was introduced conceptually by the Sky Mavis team towards the end of 2021 and is now live and available to claim on Katana DEX.
RON will be the primary token used across the whole Ronin ecosystem. Most importantly, the RON token will secure the decentralized network that supports the Ronin sidechain. The Ronin network will require validators to hold and stake RON tokens to validate blocks based on the proof-of-stake consensus mechanism.
According to the official RON litepaper, Ronin validators will receive rewards in newly issued RON for their efforts in securing the network. These RON rewards will be divided up among the validator and its delegates’ pro-rata based on the RON they have staked.
Click here to check if you can claim.
What can you do with RON tokens?
When Sky Mavis introduced Katana DEX in November 2021, demand shot through the roof. With this launch, the Axie Infinity creators also teased that there would be a native Ronin token that would ultimately take over governance and security on the network. However, there was no clear timeline for when RON would reach user wallets back then.
Today, RON goes live, and with this comes some exciting opportunities for Axie fans and DeFi enthusiasts alike. Firstly, all gas fees on the Ronin network will be covered in RON from now on. Notably, users who have Axies or land NFTs in their wallets will benefit from free transactions. Secondly, users who have used the Katana DEX staking and farming pools will now be able to withdraw their RON rewards.
Last but not least, Sky Mavis will also introduce an entirely new farming pool on Katana DEX and reshape the rewards structures on the already existing ones. Starting on February 3rd, the pools on Katana DEX will have the following rewards structure:
- AXS/ETH: 24,169.18 RON per day
- SLP/ETH: 132,930.51 RON per day
- RON/ETH: 84,592.15 RON per day
Tokenomics
Unlike other newly launching crypto tokens, RON won’t go through an IPO or IEO. Instead, Sky Mavis will rely on the organic interest that has been building towards RON for months now. The main driver of liquidity for the token will be the Katana DEX liquidity farming pool.
The Sky Mavis has outlined a rather hefty portion of the total supply to the community in terms of allocations. There will be a maximum supply of 1,000,000,000 RON tokens, which will be reached 294 months after issuance begins. Of those, 30% will go to the community, 30% will be sent to the Sky Mavis team, 15% will form an ecosystem fund, and the remaining 25% will serve as a staking rewards pool.
Monitor Ronin activity on DappRadar
Axie Infinity is among the most popular play-to-earn games out there. However, Sky Mavis took it further and created a DeFi ecosystem surrounding the game. None of this would have been possible without the capabilities of the Ronin sidechain.
Since Katana DEX launched in November, Ronin has become a fully-fledged gaming and DeFi chain, facilitating numerous earning opportunities for users. Today, with the launch of the native RON token, this ecosystem is completed.
If you are interested in monitoring activity across Katana DEX and Axie Infinity, you can check the dedicated DappRadar Ronin Rankings page. Don’t forget to check your Katana DEX farming page if you’ve been staking AXS or SLP. Your RON rewards are waiting for you!
