Axie Infinity welcomes RON, native token of its blockchain

The creator of the game based on non-fungible tokens (NFT, for its acronym in English), Axie Infinity, launched this Thursday, January 27, RON, which is the native token of the Ethereum sidechain, Ronin Chain.

Sky Mavis, the company behind the famous play-to-earn game , indicated in a press release that the RON token can be used for transactions through Ronin. Also, it will aim to secure and decentralize the network.

Likewise, it supposes the delivery of the governance of the famous game to the community. "[The blockchain] Ronin will prosper if RON is in the hands of the network's developers and users," the firm maintains.

Technically, they explain that Ronin validators will have to hold and stake RON to participate in block validation. This will give you rewards in that token.

And, in addition, it will contribute to the development of the network. "The fee structure and the use of the RON treasury are potential governance issues," says Sky Mavis.

According to figures from CoinMarketCap , RON is trading at around $3.42 at press time. This, after falling a bit from the price reached at the time of its launch, when it reached USD 4.3.

Liquidity pool launched

The company also announced a pool of liquidity, or liquidity pool, of the pair RON – ether (ETH), in the Katana decentralized exchange. This, with the intention of establishing a functional market for the new token.

Those who deposit tokens in this pool will receive 500,000 RON in rewards per day until February 3. On that day, a new reward structure for AXS/ETH, SLP/ETH and RON/ETH pools will also be launched.

Regarding the gas in Ronin, they explain that the launch of the native token will increase the stability of the chain. This will result in a "huge reduction" in transaction cancellations.

Ronin, a foundation for more play-to-earn games

The launch of RON, and the plans of Sky Mavis, mean that, through Ronin, they want to open up to the "next generation of game builders and developers."

For that, they have created an ecosystem fund of RON tokens, which they will use "to align incentives for those who commit to working with us."

They say from the company that they will launch the first incentive program for builders in the coming weeks , although they did not offer further details about it.

It is good to remember that Sky Mavis has already made progress in this regard, and a sample was the launch of the Ronin Mobile Wallet , in November 2021, a wallet that allows players to send and receive game tokens from their mobile phones.

In addition, and at the hands of Axie Infinity, the company's products became viral, through terms known by an entire growing community.

It seems that, thanks to its star game, which is turning green , Sky Mavis already has the necessary tools at its disposal to further exploit the market niche where they have established themselves as leaders.