Sky Mavis created the Ronin network as the backbone network to support their flagship blockchain game, Axie Infinity. As a layer 2 solution, Ronin enables seamless and efficient token transfers, asset ownership, and gameplay interactions within the Axie Infinity ecosystem. The network has since become one of the more popular gaming-focused networks in the market offering scalability solutions, low transaction costs, and Ethereum interoperability.
Building during the depths of the bear market has worked wonders for the Ronin network, which is now the second most used blockchain by daily active users according to data from Token Terminal. Ronin also has a lot of decentralized finance and infrastructure apps on its network, which includes Katana, their native decentralized exchange, the Ronin Naming Service, and the Mavis Market. Apart from Axie Infinity, other popular games and IP have also been onboarded onto Ronin, which helped boost user activity within the chain. Pixels, Cyber Kongz, and Aperion are some examples.
$RON is the main token of the Ronin ecosystem, primarily used to pay for network transaction fees. The token was initially distributed to users who provided liquidity on Katana, before the team decided to offer $RON staking through validators of the network. The token was trading around $0.4 at the start of Q4 of 2023 but has since reached its all-time high of $4.45 on March 26, 2024. Ronin also houses other tokens like Yield Guild Game’s $YGG, Pixels’ $PIXEL, Axie Infinity’s $SLP and $AXS, and Cyber Kongz’s $BANANA, and Aperion’s $APRS.
The community is at the center of what the network likes to call its Ronin effect, a phenomenon that helps games on the Ronin network tap into the loyal community of each IP involved with Ronin. Rallying each group under Ronin’s banner helps contribute to the user activity within the network. With the market anticipating the bull run to be just around the corner, it is exciting to see what the team behind the Ronin network has in store for the Ronin community.