Introduction
Ronin (RON), launched on January 29th, is an Ethereum sidechain developed by Sky Mavis, the creators of Axie Infinity. Designed as a long-term scaling solution for Axie Infinity, Ronin optimizes performance to enable global access to blockchain gaming. Compatible with EVM smart contracts, Ronin empowers developers to build high-performance projects, particularly in collectibles, art, and gaming. RON is now tradable on HotsCoin.
Token Metrics
- Circulating Supply: 287,910,612.298 RON
- Total Supply: 1,000,000,000 RON
- Market Cap: $740,291,723.525
- Fully Diluted Valuation: $2,571,255,424.09
Key Events
- March 23, 2022: Ronin suffered a $624M hack, the largest DeFi breach at the time.
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Ronin Ecosystem
Ronin offers a comprehensive suite of tools:
– Ronin Wallet: Secure asset storage and fiat-to-crypto purchases.
– Katana DEX: Swap, pool, and farm tokens natively on Ronin.
– Bridge: Transfer assets between Ethereum and Ronin.
– Ronin Explorer: Track transactions and network activity.
– Staking: Earn rewards via $AXS single-asset staking (76% APY).
Project Analysis: Ethereum Sidechain
Why Ronin?
Axie Infinity faced Ethereum’s congestion and high gas fees. Ronin solves these by:
– Operating independently as a sidechain.
– Delivering fast, low-cost transactions for gaming.
Pros & Cons
| Advantages | Disadvantages |
|---|---|
| EVM compatibility | Less decentralized |
| Leverages existing tech | Vulnerable to validator fraud |
Security Incident & Recovery
The 2022 hack exploited compromised private keys, draining 173,600 ETH and 25.5M USDC. Sky Mavis responded by securing $150M in funding led by Binance, reinforcing investor confidence.
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Token Utility & Distribution
$RON Use Cases:
- Network Security: Validators must stake $RON.
- Governance: Holders vote on protocol upgrades.
Allocation:
- Sky Mavis: 30%
- Community: 30%
- Staking Rewards: 25%
- Ecosystem Fund: 15%
Investment Backing
- 2021: $7.5M (Series A) and $152M (Andreessen Horowitz-led).
- 2022: $150M (Binance-led Series B).
- Partners: Ubisoft, Samsung, AAVE, and more.
Roadmap
Phase 1:
- 10+ validators; 3+ external NFT games.
Phase 2:
- Proof-of-Stake upgrade; 20+ validators.
Phase 3:
- Enhanced scalability; 100+ validators.
FAQs
Q: How does Ronin improve Axie Infinity’s performance?
A: By reducing Ethereum’s gas fees and congestion via a dedicated sidechain.
Q: What’s the APY for $AXS staking?
A: Currently 76% through Ronin Wallet.
Q: How does Ronin prevent future hacks?
A: Post-attack, Sky Mavis increased validator decentralization and added rigorous security audits.
Q: Can I buy crypto directly on Ronin?
A: Yes, via fiat integration for $RON, $AXS, $SLP, and $WETH.
Conclusion
Ronin elevates Axie Infinity’s gameplay with scalable infrastructure. Despite its 2022 hack, strong funding and partnerships position it as a leader in blockchain gaming. With built-in user traffic, Ronin’s potential extends beyond Axie to broader NFT and DeFi applications.
Source: Adapted from Golden Finance. Original publisher’s disclaimer applies.
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