Ronin Network price
in USDCheck your spelling or try another.
About Ronin Network
Ronin Network’s price performance
Ronin Network on socials
Guides
More to explore
Ronin Network FAQ
Ronin Network, an Ethereum Virtual Machine (EVM) blockchain, is purpose-built for P2E games. Created by Sky Mavis, it houses the globally renowned Axie Infinity. The network has transitioned to the Delegated Proof of Stake (DPoS) system, empowering users to become validators and help secure the network.
Beyond facilitating in-game earnings, the Ronin Network offers staking opportunities and enables participation in project governance. By converging gaming and crypto benefits, it has played a pivotal role in expanding crypto adoption.
Easily buy RON tokens on the OKX cryptocurrency platform. OKX’s spot trading terminal includes the RON/USDT trading pair.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for RON with zero fees and no price slippage by using OKX Convert.
Dive deeper into Ronin Network
Blockchain technology has seen consistent advancements, including improved scalability, the introduction of non-fungible tokens (NFTs), and the development of the metaverse. These innovations have positively impacted the blockchain gaming sector, especially with the adoption of the play-to-earn (P2E) model. This approach, which rewards players, has led to the creation of many metaverse projects, such as Ronin.
What is Ronin Network
Developed by Sky Mavis, Ronin is an Ethereum Virtual Machine (EVM) blockchain tailored for the unique demands of crypto gaming. Sky Mavis, also behind the immensely successful Axie Infinity game boasting over $1.3 billion in revenue, proves Ronin's potential as an optimal gaming blockchain. Within its first nine months, Ronin recorded 250,000 daily active addresses and amassed $5 billion in Total Value Locked (TVL).
The Ronin Network team
Sky Mavis, a technology-driven game studio, developed the Ronin Network. Jeffrey Zirlin and Alexander Leonard Larsen founded the studio. While Zirlin, a Yale graduate, dedicated over four years to shaping Sky Mavis, Larsen entered into the blockchain space in 2017, co-founding not just Sky Mavis but also the popular Axie Infinity.
How does Ronin Network work
Specifically designed for blockchain gaming, Ronin functions as an Ethereum-linked sidechain. Its crown jewel is Axie Infinity, and games within its ecosystem use the RON token for in-game purchases, such as NFTs. Thanks to the Ronin Bridge, users can smoothly transfer their in-game assets to the Ethereum mainnet, converting their gaming gains into cryptocurrencies.
Initially operating under the Proof of Authority (PoA) consensus, Ronin transitioned to the Delegated Proof of Stake (DPoS) for heightened decentralization. This shift allowed anyone holding a substantial amount of RON tokens to become a validator, bolstering network accessibility and enhancing its decentralization. The platform encourages user participation by allowing them to become validators or delegators, ensuring network security and earning rewards in return.
RON tokenomics
Launched in late January 2022, RON is the native token of the Ronin Network. Its total supply is capped at 1 billion RON. RON powers the platform, facilitating transactions and in-game purchases. Beyond that, it serves as a governance token and staking medium.
Distribution of RON
RON is distributed in the following way:
- 30 percent for community engagement, encompassing content creation, rewards, liquidity mining, grants, and hackathons
- 30 percent allocated to the team
- 25 percent earmarked for staking rewards
- 15 percent dedicated to the ecosystem fund
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.