The Dawn of RON Token
On a bright Thursday, Sky Mavis, the brains behind the monster-battle sensation Axie Infinity, unveiled its much-anticipated RON governance token. This token lives on the Ethereum sidechain, Ronin Network, and offers gamers not just a new way to pay for transactions but also a stake in the decision-making process. Think of it as a VIP pass in the world of Axie – right in your digital pocket!
Ronin Network’s Growing Popularity
The developers have reason to smile, with the network witnessing over 250,000 unique daily active addresses. Impressive, huh? When it comes to weekly active users, Katana, Ronin’s decentralized exchange (DEX), stands proud as the second-largest DEX in the scene. And as if that wasn’t enough, the blockchain happiness meter showed it had surpassed an astonishing $5 billion in deposited value.
Environmentally Friendly? Yes, Please!
But hold onto your wallets there! Here’s a little fun fact: 15% of all non-fungible token (NFT) transactions in 2021 were conducted on the Ronin network. Moreover, with over 2 million Ronin wallet downloads, the platform seems to be hitting all the right notes. There’s even a claim floating around that one Bitcoin transaction is equivalent to about 700 million Ronin transactions in energy usage. Talk about eco-friendly!
Players Frustrated Over Focus Shift
However, not all that glitters is gold! Following the token launch, numerous players from Axie Infinity took to Twitter to express their frustrations. You see, while RON sounds cool, many players feel like the developers are more focused on the new shiny object than on boosting the value of Smooth Love Potion (SLP), the in-game asset players earn for completing tasks. The frustration peaked when SLP plummeted from $0.36 in May to a mere $0.01 recently. Not exactly the kind of rise-and-grind they were hoping for!
Hopes for the Future
Despite the bears on the market, a sliver of hope shines through as 70 million out of an initial circulating supply of 185 million RON tokens will be distributed to community contributors (yes, that includes players!). After all, some appreciation for their hard work and loyalty, right?
As of now, each RON token is priced at around 3.30 Tether (USDT) on OKX. Between the mixed feelings and hopeful gains, one thing’s for sure: the ride on this crypto rollercoaster has only just begun!
