P2E leader Axie Infinity has launched its very own governance token RON for the Ronin blockchain on which the game has been developed. This key step will take the popular game and its underlying blockchain one step closer to achieving true decentralization.
Sky Mavis, developers of Axie Infinity, announced the launch of the governance token RON in the previous session. The immense popularity of Axie Infinity had spurred the creation of the Ronin blockchain, which has since seen stellar growth and also helps make the game more scalable in turn.
Ronin has been built as an Ethereum sidechain to counter the original Layer 1 network’s high congestion and gas fees, which were preventing several users from experiencing Axie Infinity’s exciting play to earn model. The RON token will be used for holding and staking purposes by block validators within the Ronin network.
In addition, it will also serve as payment for making transactions within the blockchain. Accounts will now be able to make more than 100 transactions per day within Ronin.
Ronin’s DEX Katana will support a RON/ETH liquidity pool starting today. In addition, the developers have also set aside some RON tokens which will be used to encourage the onboarding of new developers and gaming teams into the Ronin ecosystem.
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