On Thursday, Sky Mavis, the creator of the monster battle game Axie Infinity, released its highly anticipated RON governance token. The token is based on its Ethereum (ETH) Ronin Network sidechain. Its purpose includes the payment of transactions in Ronin, staking and participation in community proposals.
According to its developers, Ronin has more than 250,000 unique daily active addresses. If ranked by the number of weekly active users, Ronin’s decentralized exchange (DEX) Katana is the second largest DEX. Additionally, the blockchain surpassed $5 billion in value on deposit, with 15% of all non-fungible token (NFT) transactions occurring on the network in 2021. In total, there have been more than 2 million downloads of the blockchain. Ronin wallet. It is also claimed to be environmentally friendly, as one Bitcoin reportedly uses an amount of energy equivalent to about 700 million Ronin transactions.
But hopes of a smooth launch were dashed by complaints from some Axie Infinity players. In Axie Infinity, users are rewarded with an asset called Smooth Love Potion (SLP) for completing tasks. The best users can earn about 1,400 SLP a day playing Axie Infinity, or 680 SLP if they join a guild. As a result of the cryptocurrency bear market, the SLP has dropped from $0.36 in May to $0.01 in recent weeks. Many players took to Twitter to express their frustration that Axie Infinity has focused on RON development instead of doing more to prop up SLP value.
So hype for your new coin? But non of the devs care about the status of slp lol. Always saying about the Very long journey? So slp will remain downtrend until your pocket is full of your investors money? @AxieLima
— irfanCrkes (@irfan77575082) January 27, 2022
However, players can take a breather, as 70 million of an initial circulating supply of 185 million will be given to various members of the community (including players) for their contributions. At press time, each RON is currently worth 3.30 Tether (USDT) on OKX.
$RON trading is live on @okx!https://t.co/RjpzTHBbHp
— Axie Infinity (@AxieInfinity) January 27, 2022