Axie Infinity Developer Launches Govt Token For Ronin Blockchain
Sky Mavis’ Ronin blockchain has launched its governance token RON. The company behind Axie Infinity created the Ronin blockchain to scale the game’s success.
Sky Mavis, the creator of the monster-battle game, Axie Infinity, released its much-anticipated RON governance token, based on its Ethereum (ETH) sidechain Ronin Network. Its purpose includes paying for transactions on Ronin, staking and participating in community proposals.
Activity wise Ronin blockchain is quite popular. Over 300,000 daily active addresses interact with the network via the Ronin wallet, hitting a peak of over one million last November.
Ronin blockchain also surpassed $5 billion in deposited value, with 15% of all non-fungible token (NFT) transactions occurring 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 an equivalent amount of energy to close to 700 million Ronin transactions.
However the launch of RON didn’t quite receive the warmest possible welcome from Axie Infinity players. In the game, users are rewarded with an asset called Smooth Love Potion (SLP) for completing tasks. Top users can earn about 1,400 SLPs per day playing Axie Infinity, or 680 SLPs if they join a guild. As a result of the crypto bear market, SLP has dropped from $0.36 in May down to $0.01 in recent weeks.
Some players took to Twitter to voice their frustration at Axie Infinity turning their focus into developing RON instead of doing more to prop up the value of SLP.
So hype for your new coin? But non of the devs care about the status of slp lol. Always saying about the Very long journey? So slp will remain downtrend until your pocket is full of your investors money? @AxieLima
In all fairness, players may get some relief for their frustration, as 70 million out of an initial circulating supply of 185 million will be given to various community members (including players) for their contributions.
