Ronin (RON)
Ronin (RON) is the native cryptocurrency of the Ronin blockchain, an Ethereum Virtual Machine (EVM) blockchain specifically developed for game developers who wish to create player-owned economies. Users can earn RON as rewards or purchase it from secondary markets. The blockchain was developed by Sky Mavis to support their game, Axie Infinity.
To interact with the Ronin blockchain, users need the Ronin Wallet, although MetaMask can also be used due to its EVM compatibility. However, the Ronin Wallet is recommended as it is tailored for the Ronin Network's functionalities.
| Ticker | RON |
| Category | Smart Contract Platform |
| Website | https://roninchain.com |
| @Ronin_Network | |
| Contract Addresses | |
|---|---|
| ronin | 0xe5...d4 Copied! |
Token allocation
At the launch of Ronin, RON could be acquired through rewards from the Katana DEX, purchasing from the secondary market, or receiving a shareholder allocation. Notably, there were no discounted RON available during funding rounds. The distribution of RON, as a percentage of the total existing token supply, is as follows:
- Rewards: 25%
- Community incentives: 30%
- Sky Mavis: 30%
- Ecosystem fund: 15%
There is a distinction between unlocked supply and circulating supply. Unlocked tokens may not immediately enter the market, depending on a pre-planned program budget. The circulating supply can increase if tokens are distributed from initial allocations or staking contracts, or decrease if RON is bought back into the treasury. The circulating supply will never exceed the unlocked supply and can be checked via the supply API endpoint.
RON can be purchased through centralized exchanges (CEX) using traditional currency. After buying RON, it can be transferred to the Ronin Wallet to utilize Ronin dApps. Some exchanges supporting RON include:
- OKX
- Crypto.com
- Gate.io
- Bitget
- MEXC
- Coins.ph
Utility of RON
RON tokens serve as payment for gas fees and enable participation in staking. They can be staked through validators to earn rewards.
Rewards
Token holders on Ronin can stake their RON to participate in validator selection and earn rewards for their contribution. These rewards are categorized into staking rewards and bridge rewards, with allocations of 180,000,000 RON and 1,000,000 RON, respectively. The initial rewards aim to establish the network, with the expectation that transaction fees will eventually sustain it.
Staking
Staking on Ronin was first introduced on the Saigon Testnet, allowing Testnet stakers to stake RON with validators. During this phase, 16 new validators were added, enabling delegators to practice staking in preparation for the planned Ronin DPOS migration.
Validators receive staking rewards and transaction fees for generating blocks. They share these rewards with delegators, who delegate their stakes to validators. Each validator sets a commission rate, determining the percentage of the self-allocated reward, while the remaining reward is distributed among delegators based on their staked amounts.