What is Ronin Coin?

What is Ronin Coin?

Ronin emerges as a dedicated EVM (Ethereum Virtual Machine) blockchain tailored specifically for the gaming industry. Sky Mavis, the visionary behind the successful Axie Infinity game, which has amassed a remarkable $1.3 billion in revenue, spearheads Ronin. This blockchain serves as a testament to its scalability, demonstrating the capability to scale a single game to cater to millions of daily active users and process over $4 billion in NFT volumes.

Ronin distinguishes itself by prioritizing near-instant transactions and minimal fees. This strategic optimization facilitates the seamless execution of millions of in-game transactions, positioning Ronin as the premier choice for Web3 games. In essence, Ronin redefines standards in the gaming blockchain landscape, offering efficiency and a user-friendly experience.

What makes Ronin Coin Unique

Scalability Prowess:
In 2021, Ronin Coin made history by handling 15% of the entire NFT trading volume, establishing itself as the hub for all Axie Infinity assets. Its scalability is evident as it stands as the second-largest platform for NFT sales by volume, trailing only behind Ethereum. Ronin’s distinction lies in its ability to scale seamlessly to meet the demands of a burgeoning user base.

Gaming Optimization:
Ronin Coin sets itself apart by prioritizing efficiency for gaming applications. It eliminates unnecessary complexities found in other blockchains, ensuring high-quality apps, minimal spam, and optimal uptime. This dedication to gaming optimization positions Ronin as a preferred choice for Web3 games.

Sky Mavis Backing:
Sky Mavis, the mastermind behind Axie Infinity, provides unwavering support to Ronin. Leveraging their vast experience in building and scaling Axie Infinity, Sky Mavis offers invaluable insights into product development, community building, and successful go-to-market strategies. Ronin partners benefit from advisory support and grants, minimizing risks and enhancing their prospects for success.

Security Resilience:
Ronin Coin faced a significant security challenge in the form of the Ronin Validator Breach in March 2022. Despite the social engineering attack that led to the draining of assets, Sky Mavis transformed into a fully antifragile, zero-trust organization. Rigorous internal security measures were implemented, including a comprehensive code review, optimization, and audits by security experts. These measures fortify Ronin against future threats, ensuring a secure gaming environment.

RON Token 

The RON token is the core of the Ronin Coin blockchain, serving various essential functions:

Transaction Currency:
RON is the primary currency for transactions on the Ronin blockchain, ensuring smooth and efficient network operations.

Decentralized Governance:
Holding RON tokens provides users with the ability to participate in decentralized governance, actively contributing to decision-making within the Ronin community.

Staking for Validation:
Validators on Ronin stake and hold RON tokens to participate in the validation process. This not only enhances network security but also rewards validators and their delegators with newly issued RON tokens based on their staked amounts.

What is a Ronin node?

The Ronin node is the core of the Ronin coin network, fulfilling key roles in transaction oversight and ledger maintenance. There are three node configurations:

Non-Validator Node:

• Connects to the network for synchronization and status observation.
• Use case: Gateway for decentralized applications.

Validator Node:

• Verifies and approves user transactions, earning RON tokens as a reward.
• Featured on the RON Staking app.

Archive Node:

• Stores extensive historical data, beneficial for services like block explorers.
• Less practical for regular users due to the substantial data size.

Validator and non-validator nodes are full nodes, periodically pruning unnecessary data. A validator node starts as a full node and registers to accept RON token stakes, potentially joining the validator set for network consensus.

Key Takeaways of Ronin Coin

1. Efficient Gaming Blockchain: Ronin Coin stands out for its gaming-centric approach, handling significant NFT volumes and offering scalability for Web3 games.
2. Sky Mavis Influence: Backed by Sky Mavis, Ronin leverages expertise from Axie Infinity, ensuring strong community support and successful strategies.
3. Security Priority: Despite facing challenges, Ronin prioritizes security, implementing measures to become antifragile, crucial for a secure gaming environment.
4. RON Token Utility: RON token is the lifeblood of Ronin, driving transactions, governance, and validation, creating a seamless and efficient network.
5. Node Configurations: Non-validator, validator, and archive nodes form the backbone of the Ronin network, each serving unique roles in transaction oversight.
6. Katana DEX: Katana, Ronin’s decentralized exchange, offers swap, pool, farm, and analytics features, enriching the ecosystem and providing diverse opportunities for users.

Rewards

Part 1: Overview of Ronin Token Rewards

On Ronin, participants stake RON tokens, earning rewards through staking and bridge incentives. The network allocates 180 million RON for staking and 1 million RON for bridges, ensuring a robust foundation.

Part 2: Validator Rewards

Validators play a key role, in receiving rewards and transaction fees. These rewards are shared with delegators who entrust their tokens to the validator. The commission rate, set by each validator, determines the distribution of rewards among participants.

Part 3: Delegator’s Share

Delegators participate by staking tokens, sharing in the rewards based on their staked amount and the validator’s commission rate. This collaborative model aims to jump-start the network while fostering sustainability through transaction fees.

Part 4: Bridge Operator’s Reward

Bridge operators receive 10% of the staking reward, distributed based on the number of votes from the bridge operators at the end of each day.

RON Token Overview

• Token Name: Ronin
• Ticker: RON
• Blockchain: Ronin Network
• Total Supply: 1,000,000,000 RON
• Circulating Supply: 292,643,739 RON

Katana

Katana, a decentralized exchange (DEX) designed for the Ronin ecosystem, offers a range of key features:

Swap:

• Facilitates seamless trading between various pairs of ERC-20 tokens within the Ronin ecosystem.

Pool:

• Allows users to contribute liquidity for ERC-20 tokens, enabling them to earn market-making fees.
• Provides an opportunity for users to receive additional RON rewards.

Farm:

• Offers a farming mechanism where users can stake liquidity pool (LP) tokens to earn RON.

Analytics:

• Equips users with tools to monitor and analyze their earned fees, providing valuable insights into their trading activities on the platform.

Conclusion

Ronin Coin offers you a gateway to the global tech scene and a thriving ecosystem. The future of Ronin Coin is closely linked to how well the overall cryptocurrency industry performs. This means that as the cryptocurrency landscape evolves, Ronin is positioned to adapt and flourish.