Thursday, Sky Mavis, Monster Battle Game, Axie Infinity, released the highly anticipated RON governance token. The token is based on its Ethereum (Ethereum) Sidechain Ronin Network. Its purposes include paying Ronin’s transaction fees, staking, and participating in community proposals.
According to its developers, Ronin has over 250,000 daily active addresses. When ranked by weekly active users, Ronin’s decentralized exchange Katana (agile), is the second largest DEX. Additionally, blockchain deposits are worth more than $5 billion, and 15% of all non-fungible token (NFT) transactions that take place on the network in 2021. In total, there have been over 2 million Ronin wallet downloads. It also claims to be environmentally friendly, with one Bitcoin allegedly using the same amount of energy to complete nearly 700 million Ronin transactions.
But complaints from many Axie Infinity players negated any hopes of a smooth launch. In Axie Infinity, users earn an asset called Smooth Love Potion (SLP) for completing tasks. Top users earn around 1,400 SLP per day when playing Axie Infinity, or 680 SLP if yes they joined a guild. SLP fell from $0.36 in May to $0.01 in recent weeks due to the crypto bear market. Many players took to Twitter to express their frustration with Axie Infinity turning its attention to developing RON without doing more to shore up the value of SLP.
Hype for your new coin? But no developer cares about the status of slp lol. Always say a long journey? So slp will keep trending down until your pockets are full of investor money? @AxieLima
— irfanCrkes (@irfan77575082) January 27, 2022
Still, players may get some respite as 70 million of the initial circulating supply of 185 million will go to contributions from various community members, including players.At the time of publication, each RON currently worth 3.30 Tether (USDT) is OKX.
— Axie Infinity (@AxieInfinity) January 27, 2022