RON is the native cryptocurrency of Ronin, an EVM blockchain created for developers building games with player-owned economies. Users can earn RON as a reward, or they can buy them from a secondary market. It was created by Sky Mavis, who created the blockchain network to support their game Axie Infinity.
Users require the Ronin Wallet to interact with the Ronin blockchain. It is also possible to utilize MetaMask as it is an EVM blockchain. Ronin Wallet remains recommended as it was designed to support the functionalities of Ronin Network.
During the launch there were three ways to acquire RON: earning rewards from the Katana DEX, buying from the secondary market, or receiving a shareholder allocation. There were no discounted RON as part of funding rounds.
The quantity of RON reserved for various network functions, as a percentage of the total existing token supply, follows this distribution:
- Rewards: 25%
- Community incentives: 30%
- Sky Mavis: 30%
- Ecosystem fund: 15%
There is a difference between unlocked supply (found in the public unlock schedule) and circulating supply (tokens that are issued out into circulation). Unlocked tokens may not be immediately circulated into the market and it usually depends on a program budget that is planned in advance.
- Circulating supply increases in the event that tokens are distributed from the original allocations or staking contracts as rewards to users and other parties.
- It may also decrease in the case where RON is bought back from the market and placed into the treasury.
- Circulating supply will never be higher than the unlocked supply.
- Circulating supply of RON can be queried at the supply API endpoint.
Currently, you can purchase RON through a centralized exchange (CEX) with traditional currency. After purchasing RON from a CEX, you can send it back to your Ronin Wallet to enjoy Ronin dApps. A list of exchanges that support RON include:
RON tokens can be used to pay for gas fees and participate in staking. They can be staked through validators to earn rewards.
On Ronin, token holders stake their RON to participate in validator selection, and in exchange, token holders earn rewards for their service. The rewards are divided into the staking reward and the bridge reward. Ronin allocates 180,000,000 RON for the staking reward and 1,000,000 RON for the bridge reward. This is to ensure that the network is seeded well enough until transaction fees gain traction. These rewards are primarily meant to jump-start the network, while the protocol is intended to sustain itself on transaction fees.
The staking first went live on Ronin's Saigon Testnet, where Testnet stakers could stake their RON to the validators. 16 new validators were introduced to the Testnet such that delegators could delegate their RON to these validators and participate as practice for the upcoming Ronin DPOS migration.
Validators receive a staking reward and a transaction fee for their block generation efforts. Validators share the staking reward and the transaction fee with their delegators—token holders who delegate their stakes to the validator. Each validator can set a commission rate that indicates the percentage of the self-allocated reward. The remaining reward is allocated to the delegators based on the amount that they have staked.
How was your experience?
Give this wiki a quick rating to let us know!