Introducing Ronin: The Game-Changing EVM Blockchain Revolutionizing Gaming

Modified on Tue, 23 Sep at 5:50 PM

What is Ronin?

Ronin, an Ethereum Virtual Machine (EVM) compatible blockchain designed specifically for game creation by Sky Mavis, the creators of the $1.3 billion-revenue generating game Axie Infinity, has proven its capability to support millions of concurrent gamers and process over $4 billion worth of NFTs in trading volume. With near-instantaneous and ultra-low fee transactions, Ronin enables smooth execution of millions of in-game transactions, making it the leading choice for Web3 games.

Moreover, Ronin emphasizes the concept of true in-game asset ownership, further revolutionizing the gaming industry. It achieves this by creating a community of gamers on Web3. This community bridges the gap between gaming and the cryptocurrency world, serving as an entry point for the wider world to discover crypto through games. Ultimately, Ronin aims to reshape gaming by combining technology and gaming communities.

Who's Behind Ronin?

Sky Mavis is a leading company in the development of blockchain games and NFT projects, with famous games in its portfolio like Axie Infinity. This game has achieved phenomenal player engagement, boasting over 2.8 million daily players.

Sky Mavis was founded in 2018 by Trung Nguyen (CEO), Aleksander Leonard Larsen (COO), Viet Anh Ho (CTO), Art Director Tu Doan, and Head of Growth Jeffrey Zirlin., Sky Mavis is a team of experts in Ethereum-based blockchain games and NFTs. They jointly developed Axie Infinity, a digital pet universe game where players can battle their creatures, and created the Ronin Network specifically for blockchain gaming.

What makes Ronin unique as a blockchain?

Network Scalability

Ronin's scalability is a major advantage. It supports trading for all in-game assets from Axie Infinity, including Axies, Land, SLP, and AXS. Notably, Ronin boasts the second-highest NFT trading volume after Ethereum, despite competing with numerous other networks. Successfully scaling to support millions of daily users from a single game further demonstrates its capabilities. This scalability is further evidenced by its ability to expand its network and process up to 7.5 million transactions per second during peak periods, translating to a maximum of 40 million transactions per day.

Ronin's Security Upgrade

Addressing past security concerns, Ronin has undergone a significant overhaul, prioritizing robust security measures. This includes a fully antifragile, zero-trust organization, implementing rigorous internal security measures to prevent future attacks. All code has been fully reviewed and optimized, with security experts auditing the entire architecture.

zkEVM

In June 2024, Sky Mavis announced plans to integrate zero-knowledge Ethereum Virtual Machines (zkEVMs) into the blockchain. This integration will enable games to launch permissionlessly and operate their own Layer-2 chains on the Ronin network with shared security.

RON Token Supply and Token Distribution

The RON token serves as the lifeblood of the Ronin network. It empowers users in several ways:

Transaction Fees: Pay for smooth and swift transactions on the Ronin blockchain.
Diverse Financial Features: Unlock a world of possibilities within the Ronin ecosystem, including participation in decentralized finance (DeFi) protocols.
Community Governance: Shape the future of Ronin by actively participating in community decision-making processes.

Staking for Rewards: Become a Validator

RON holders can contribute to the security and stability of the Ronin network by staking their tokens. This allows them to become validators, responsible for verifying transactions and maintaining the blockchain's integrity. As a reward for their contribution, validators earn a portion of newly minted RON tokens. These rewards are distributed between validators and delegators.

For Gamers:

RON tokens can be used to earn money within games, allowing players to buy and sell various items like gems and VIP memberships.

Monetization of the Ecosystem:

The value of RON tokens can increase through a 0.5% fee on transactions within exchanges, NFT marketplaces, and game item stores. This fee contributes to a sustainable income stream for the ecosystem.

Token Distribution

A portion of RON tokens are allocated for various network functions, with the following breakdown:

25% Rewards
30% Incentives for the community
30% Sky Mavis
15%Ecosystem Fund

Source: Tokenomics

RON unlock schedule

The total supply of RON tokens is capped at 1,000,000,000. While all tokens can potentially be unlocked after 108 months (9 years), this is contingent upon every unlocked token being issued. The initial unlock began on 27 January 2022, and unlike some other tokens, RON unlocks continuously rather than in large quarterly batches.

Source: CryptoRank Updated 19 July 2024

Ronin's Explosive Growth

Ronin is experiencing explosive growth, attracting a massive gamer base through its focus on community and user experience. With over 1.82 million monthly active users and more than 15 million digital wallets connected to the network, Ronin is a key player in the rapidly expanding Web3 gaming space. This growth is fueled by popular and engaging games like Axie Infinity and Pixels. Axie Infinity, for instance, is a testament to Ronin's capabilities, with the number of daily active wallets on Pixels surging from 5,000 to 130,000 in just one month. This surge reflects the strong user engagement that the platform fosters.

Fueling Growth: Developer Toolkit

Beyond attracting players, Ronin empowers developers with a robust toolkit that promotes game growth. This toolkit incorporates user and community participation, along with affordable solutions. In essence, it combines strong user engagement and community support with an accessible cost structure, creating an ideal environment for game development. This focus on developers plays a crucial role in the future success of Web3 games.

A Sample of Success on Ronin

Axie Infinity: This wildly popular game allows players to collect, raise, and battle adorable creatures called Axies within a virtual world.

Pixels: This open-world game boasts a rapidly growing community. Players can farm, explore, gather resources, and unleash their creativity to craft new items.

These are just a few examples of the many successful games thriving on the Ronin network.

Interesting information about Ronin

According to CoinMarketCap, as of 18 June 2024, RON has a market cap of $756,587,069 or 27,424,692,433 baht.

At the time of writing this article, RON coins are trading at approximately $2.25 or 81.46 baht per RON. RON previously reached an all-time high of $4.50 or 163 baht per RON on 13 March 2024.

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