Ronin
Crypto Overview
Overview
Ronin (RON) is the native token of the Ronin blockchain, a sidechain built specifically for gaming applications, developed by Sky Mavis, the company behind Axie Infinity. Launched in 2022, RON serves as the gas token for transactions on the Ronin network and plays a crucial role in the network's validator system.
Intended Utility
The primary intended utilities of RON include: serving as gas fees for transactions on the Ronin network, staking for validator nodes, and governance participation in the Ronin DAO. The token is designed to support the gaming ecosystem built on Ronin, with a particular focus on reducing transaction costs and improving scalability for blockchain games.
Actual Utility
RON is actively used for its intended purposes. The token serves as the mandatory gas fee for all transactions on the Ronin network, which hosts multiple blockchain games including Axie Infinity. The network processes millions of transactions monthly, demonstrating significant real-world adoption. Additionally, RON is actively used in the validator system, with 21 validator nodes securing the network through staking.
Token Distribution and Governance
The total supply of RON is capped at 1 billion tokens. The distribution includes allocations for ecosystem development, validator rewards, Sky Mavis team (with vesting periods), and community incentives. The token distribution model includes significant vesting periods for team allocations, indicating a long-term commitment to the project.
Technology and Development
Ronin operates as an Ethereum sidechain using a Proof of Stake Authority (PoSA) consensus mechanism. The development team maintains regular updates and improvements to the network, with a public GitHub repository showing consistent activity. The project has demonstrated technological competence through successful implementation of cross-chain bridges and scaling solutions.
Crypto Impact
To assign a comfort level investing in Ronin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ronin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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You can change your vote if you change your mind.