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Ronin Network(RON) Milestone achievement: Axie Infinity Founder Sky Mavis Launches RON Governance Token
Details
On January 27, 2022, Sky Mavis, creator of play-to-earn Axie Infinity, announced the release of RON, a governance token for its Ethereum sidechain called Ronin Network. RON is a community-owned governance tokenRON is the governance token for the Ronin blockchain. Its main purpose is to secure and decentralize the network. Ronin will thrive if RON is in the hands of the builders and users of the network.Ronin validators will need to hold and stake RON to participate in validating blocks. They will be rewarded with newly issued RON and RON used for gas fees. This RON will be divided up among a validator and its delegates pro-rata based on the RON they have staked with the validator. The validator may also elect to take a fee from its delegates.Holders of RON will be able to stake their RON tokens with a validator to earn RON rewards and participate in governance of the network. Fee structure and use of the RON treasury are potential governance topics. RON/ETH on KatanaTo help establish a market for RON, the team has launched a RON/ETH liquidity pool on Katana. This pool will receive 500,000 RON in rewards per day until February 3rd starting in 24 hours (January 28th at 8 PM GMT +7).On February third (February 3, 2022), the team will be launching a new reward structure for the AXS/ETH, SLP/ETH, and RON/ETH pools:- AXS/ETH: 24,169.18 RON per day
- SLP/ETH: 132,930.51 RON per day
- RON/ETH: 84,592.15 RON per day
Name
Axie Infinity Founder Sky Mavis Launches RON Governance Token
Date
2022-01-27
Accomplished
Yes
Token Unlock
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