Axie Infinity Finally Launches $RON Token for Gaming-focused Blockchain

Popular Ethereum-based play-to-earn game, Axie Infinity, has recently announced the launch of the highly anticipated RON token. RON is the native token of the Ronin Network, an Ethereum-linked sidechain.

In an official announcement today, Sky Mavis, the company behind Axie Infinity, noted that the RON token is the governance token for Ronin. This will help secure and decentralize the network and will be used to pay for transactions on the Ronin network.

Interestingly, users will receive free transactions to hold Axies and/or land in Ronin wallets, depending on the assets they hold. Axie holders can get up to 500 free transactions per day and landholders can get up to 350 free transactions per day.

However, to celebrate the successful launch of the RON token, both old and new Axie Infinity accounts will receive 20 free transactions to help users’ smooth transit into the new era.

Sky Mavis noted that it is open to onboard developers who are keen to work with it to boost the growth and development of the Ronin blockchain. 

“We intend to open Ronin to the next generation of builders and game developers.  We’ve created an ecosystem fund for RON tokens to align incentives for those who commit to work alongside us… We are building towards a future behind the scenes where Sky Mavis is just one of many dedicated builders on the Ronin chain!”

To establish a market for the newly launched RON token, Sky Mavis has launched a RON/ETH liquidity pool on Ronin’s in-house decentralized exchange, Katana. The pool will receive about 500,000 RON in rewards every day until February 3rd.

Thereafter, the team will launch a new reward structure for the other pools on Katana, including AXS/ETH, SLP/ETH, and RON/ETH, with each receiving 24,169.18 RON, 132,930.51 RON, and 84,592.15 RON per day respectively.

The new rewards structure is scheduled to last throughout the year.

After Ron Token Launches, Axie Infinity Experiences Growth Surge

The Pokemon-inspired NFT game has exploded in popularity in recent months, especially since the launch of its custom sidechain Ronin. 

Ronin provides Axie Infinity users with speedy and low-cost transactions and its native DEX, Katana, allows players to swap their tokens directly on the Ronin network without having to bridge to Ethereum.

According to data from DappRadar, the game recently crossed the $2 billion mark in total transaction volume, with over 2 million daily active users. In November, the most expensive Axie land was sold for a whopping $2.3 million.