YGG token arrives on Ronin Network, celebrates with airdrops

POPULAR POST

My Journey from Classroom to Crypto

Editor's Note: I "met" TP online. Whether it was on Twitter or a Discord group, I am remiss for details. But such a meeting...

The Largest Web3 Game by DAU, Pixels, Announces Chapter...

The Largest Web3 Game, Pixels, Announces Chapter 2 and Sets Foundation For Creating an Ecosystem of Games

Klaytn and Finschia unveil Kaia blockchain in the Philippines

Klaytn and Finschia unveil Kaia blockchain in the Philippines

Ragnarok: Monster World teases Nyang Kit NFT Mint

In April, Ragnarok: Monster World joined the Ronin movement. Ragnarok is more than a game: it’s a billion-dollar transmedia IP that has amassed over...

CryptoBilis presents ‘Bitcoin Pizza Day 2024’ in collaboration with...

An event to bring to-gather all fragmented cryptocurrency communities in the Philippines under one roof.

Olympus acceleration platform opens global launchpad for Filipino Web3...

The DFINITY Foundation (DFINITY), a Swiss not-for-profit research and development organization and key contributor to the Internet Computer Protocol (ICP) blockchain, has announced the launch of the Olympus, the first decentralized, on-chain global acceleration platform. 

Following a successful governance proposal, Yield Guild Games (YGG) is happy to announce that Sky Mavis and the Ronin community have approved the launch of the YGG token on the network. The YGG token went live on Ronin on Thursday, March 21, 2024, at 8 a.m. Pacific Standard Time (PST), 3 p.m. Greenwich Mean Time (GMT), and 11 p.m. Singapore Time (SGT). This strategic release aims to support the network by attracting gamers and games into its ecosystem. In line with this, YGG tokens will be airdropped to wallets staking RON on the YGG validator.

With YGG and Sky Mavis’ longstanding partnership and their shared influence on the web3 gaming space, YGG bringing its token to Sky Mavis’ Ronin network marks an ongoing commitment to advancing the industry together. It enables the community to seamlessly move between Ronin games and the YGG platform without needing to bridge out, making it easier for YGG players to access the games they love.

“YGG and Ronin are inextricably linked. From the early days of our mission, we’ve shared values and a core community. Onboarding the YGG token to Ronin is the next natural step in our shared journey. Welcome to Katana (and Ronin), YGG!” said Jeff “Jihoz” Zirlin, co-founder and Chief Growth Officer at Sky Mavis.

The Ronin network has experienced remarkable growth over the past year, boasting 22 validators, including YGG and prominent organizations such as Google, Nansen and Animoca Brands. Currently, Ronin has attracted over 100,000 delegators, with a total stake of more than 187 million RON tokens across these validators.

The games in the Ronin ecosystem continue to gain traction as well. Following its migration to Ronin, YGG game partner Pixels saw its daily active users (DAU) quickly soar to over 130,000, making it the first web3 game on Ronin to achieve such a feat since Axie Infinity. Pixels has recently garnered even higher engagement rates, surpassing 500,000 DAU and reaching 1 million monthly active users (MAU).

Other games on Ronin, such as Apeiron and Wild Forest, have likewise been building momentum. Combined with the migration of other major projects like CyberKongz, these developments signal the platform’s increasing influence in web3 gaming.

Who Is Eligible for the YGG Airdrop?

Once it is live on Ronin, the YGG token can be bridged from Ethereum to Ronin and back. A snapshot of wallets that have been staking RON tokens through the YGG validator was taken on March 11, 2024, Coordinated Universal Time (UTC). Based on this data, 1,376,579 YGG tokens will be distributed to 8,861 eligible wallets.

Delegators staking at least 1 RON token with YGG prior to March 11, 2024, UTC, will be eligible to receive YGG tokens. The amount of airdropped tokens will be determined by the amount of RON staked and will be tiered according to how long the tokens have been staked. Wallets associated with RON tokens staked before January 1, 2024, will receive a 10% Loyalty Bonus, while those that have been staking earlier than June 1, 2023, will receive a 20% True Believer Bonus.

The YGG token will also be listed on Katana, Ronin’s native decentralized exchange, for liquidity pairings with other Ronin ecosystem tokens. The YGG/RON pair will join other prominent pairs on Katana such as WETH/RON, USDC/RON, AXS/RON, SLP/WETH, PIXEL/RON and BANANA/RON. Holding YGG tokens will enable the Ronin community to receive access to special token-gated YGG quests for Ronin games and may also qualify users for further airdrops and other exclusive benefits in the future.

“The YGG token launch on Ronin is another milestone in our partnership with Sky Mavis. As Ronin continues to position itself as a leader in web3 gaming, YGG looks forward to further supporting the ecosystem and community by increasing our stake and participation in the network,” said YGG co-founder Gabby Dizon. “The YGG token making its way to Ronin will open up opportunities to give more players access to more rewarding quests and other benefits. Consider this our way of bringing YGG even closer to all communities across the flourishing Ronin ecosystem.”

Subscribe to our newsletter

Its easy to be smart about crypto, allow us to send you weekly updates on digital assets, crypto, NFTs and fintech.

WANT TO KNOW MORE?

The Largest Web3 Game by DAU, Pixels, Announces Chapter 2 and...

The Largest Web3 Game, Pixels, Announces Chapter 2 and Sets Foundation For Creating an Ecosystem of Games

Klaytn and Finschia unveil Kaia blockchain in the Philippines

Klaytn and Finschia unveil Kaia blockchain in the Philippines

CryptoBilis presents ‘Bitcoin Pizza Day 2024’ in collaboration with Satoshi Labs...

An event to bring to-gather all fragmented cryptocurrency communities in the Philippines under one roof.

Olympus acceleration platform opens global launchpad for Filipino Web3 startups 

The DFINITY Foundation (DFINITY), a Swiss not-for-profit research and development organization and key contributor to the Internet Computer Protocol (ICP) blockchain, has announced the launch of the Olympus, the first decentralized, on-chain global acceleration platform.