Pay for transactions on Ronin Wallet | Axie Anfinity Releases Token for Ronin Blockchain 2022

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Introduction

Axie Anfinity is an ecosystem for gamers, collectors and crypto enthusiasts. Axie Infinity will be the first decentralized game built on smart contracts that allow players to buy, sell and trade digital creatures called Axie with one another

The company has recently announced a new token release Ronin Wallet which will enable users to store their cryptocurrency safely in a secure wallet, without having to give up control of their private keys by using a centralized exchange or other third party service provider.

Axie Infinity devs release governance token for Ronin Blockchain to mixed player response

“SLP still on the ground LOL, if this coin stays like that I’m gonna quit Axie man,” said one disgruntled player.

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Axie Infinity devs release governance token for Ronin Blockchain to mixed player response

News

 

On Thursday, Sky Mavis, the creator of the monster-battle game, Axie Infinity, released its much-anticipated RON governance token. The token is based on its Ethereum (ETH) sidechain Ronin Network. Its purpose includes paying for transactions on Ronin, staking and participating in community proposals.

According to its developers, Ronin has over 250,000 unique daily active addresses. When ranked by the number of weekly active users, Katana, Ronin’s decentralized exchange (DEX), is the No. 2 largest DEX. In addition, the blockchain surpassed $5 billion in deposited value, with 15% of all nonfungible token (NFT) transactions occurring on the network in 2021. In total, there have been over 2 million Ronin wallet downloads. It is also claimed to be environmentally friendly, with one Bitcoin allegedly using an equivalent amount of energy to close to 700 million Ronin transactions.

But hopes for a smooth launch were offset by complaints from several Axie Infinity players.  In Axie Infinity, users are rewarded with an asset called Smooth Love Potion (SLP) for completing tasks. Top users can earn about 1,400 SLPs per day playing Axie Infinity, or 680 SLPs if they join a guild. As a result of the crypto bear market, SLP has dropped from $0.36 in May to $0.01 in recent weeks. Many players took to Twitter to voice their frustration at Axie Infinity, turning their focus into developing RON instead of doing more to prop up the value of SLP.

Nevertheless, players may get some respite as 70 million out of an initial circulating supply of 185 million will be given to various community members (including players) for their contributions. At the time of publication, each RON is currently worth 3.30 Tether (USDT) on OKX.

— Axie Infinity (@AxieInfinity) January 27, 2022

 

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