Can Ronin, the former head game sidechain, hatch the next Axie after the crash?

Amid the volatility of digital currencies, Ronin Network’s performance is particularly eye-catching. According to Coingecko, Ronin, the token of the ETH sidechain, has risen by a staggering 50.41% in just one week, with the latest price at US$1.60 and a 12.56% increase in price over the past 24 hours. This significant growth is not just a digital change, but a direct reflection of Ronin’s potential and influence in the digital currency market.

RON asset price movements

According to Nansen’s data, the number of active wallet addresses on the Ronin network has doubled in recent days, soaring to more than 7,000. The main driver behind this growth is the number of popular games choosing to join the Ronin ecosystem. In particular, Pixles, a P2E MMO game, successfully migrated to Ronin at the end of October, a move that attracted many new users to Ronin and greatly boosted its online activity. Among them, Sky Mavis’ cooperation with South Korean gaming giant ACT Games has further deepened Ronin’s influence in the gaming field.

In addition, Zoids Wild Arena was successfully migrated from Polygon to Ronin on November 8, further verifying the strong appeal of the Ronin public chain. Ronin has also partnered with four well-known game studios: Directive Games, Bali Games, Tribes Studio, and Bowled.io. These studios are leveraging Ronin’s technology to deliver innovative gaming experiences. In particular, Machines Arena, developed by Directive Games, has been tested on PC and is scheduled to be released on the Epic Games Store. What’s even more exciting is that the game will be cross-platform and will be rolled out to iOS and Android platforms in the future.

Ronin Network is steadily building its leading position in the game blockchain industry through its rapid data growth and close cooperation with major game studios. Let’s take a closer look at the Ronin project.

Committed to providing cost-effective game public chain services, Ronin has achieved good data performance recently

The birth of the Ronin public chain marks a direct response to the problems that exist in the ETH network, such as high fees, low speeds, and complex user experience. As an EVM-compatible chain designed specifically for gaming, Ronin offers a smoother and more seamless gaming experience through its sidechain technology. Launched by Sky Mavis, the founding team of Axie Infinity, the public chain has already shown great potential in the NFT trading market, processing more than $4 billion in transactions while attracting millions of daily active users.

Over the past year, the Ronin ecosystem has expanded significantly. The team is committed to its unique Web3 values, with a particular focus on the idea of “cultivating the first 1,000 loyal fans”. Through the gradual introduction of new games and feature expansions, as well as continuous technological advancements, Ronin has not only retained existing Axie fans, but also attracted a large number of new users.

Recently, changes in the price of SLP have brought a new perspective to games within the ecosystem. In the last 30 days, Ronin’s number of active addresses has increased by 108%, with more than 35,000 daily active wallets, mainly gaming wallets. Much of this growth has been driven by the recent popularity of certain games. RON as the native token of the ecosystem, its usage increases as user activity grows. At the same time, Ronin’s treasury continues to grow as ecosystem activity increases. Currently, 0.05% of all fees for the Katana DEX and 0.5% of the RON market fees will go to the treasury.

Data performance of the Ronin network

Although RON currently does not have an effective value accumulation mechanism in place, as the user base grows and RON fees accumulate, the community expects the DAO to effectively manage these resources and explore ways to reduce the circulation of tokens. Ronin has demonstrated strong ecosystem potential as it continues to launch new games, attract new users, and maintain technological advancements.

Understand RON tokenomics model: whether it will continue to be low after falling from $3 to $0.2

The Ronin Chain, an EVM-compatible chain tailored for gaming, not only brings players a seamless gaming experience, but its token RON plays multiple key roles in the ecosystem. The economic mechanism and functional design of the RON directly reflect the vitality and growth potential of the Ronin ecosystem.

RON market performance has experienced ups and downs. Since its debut on the secondary market in January 2022, the price of the RON has initially remained at around $3. However, in the face of the overall downturn in the crypto market and the security incident suffered by Ronin, the price fell to around $0.2 at one point. Since then, RON has experienced a significant rebound, demonstrating the market’s confidence in Ronin’s ecological recovery and development.

The total number of RON is one billion, and its functions and values are mainly concentrated in the following aspects:

1. Transaction fee payment: With the increase in transaction activity on the Ronin chain, RON is used to pay for network services to maintain the efficient operation of the system.

2. Network security and staking: RON support the security and decentralization of the network, attract nodes to participate through the validator staking consensus mechanism, and support the healthy operation of the network through the reward mechanism.

3. Participation in governance decision-making: RON also gives holders the right to vote in network governance, promotes the participation of community members in important decision-making, and strengthens the transparency and consensus of the entire ecosystem.

Regarding the distribution of RON, Sky Mavis acts as a 30% holder of the RON token supply, which is used for a variety of purposes, including employee bonuses and shareholder token contracts. Of this, 22.35% belongs to the company’s balance sheet and 7.65% belongs to equity shareholders. The community accounts for 30%, and the staking reward is 25%.

In addition, the Ecosystem Fund accounts for 15% of the total supply of RON and is used to support initiatives to enhance the Ronin network. On April 27, 2022, approximately 6 million RON were donated to the Ecosystem Fund, demonstrating continued investment and commitment to ecosystems and development.

As of now, the unlocking of Ronin (RON) tokens is as follows: the total number of unlocked tokens is about 445.9 million RON, which is about 44.59% of the total supply. The total amount of remaining locked tokens is approximately 554.07 million RON, representing 55.41% of the total supply. In terms of distribution, community incentives account for 30%, Sky Mavis accounts for 30%, staking rewards account for 25%, and ecosystem funds account for 15%. The specific values are: about 186.24 million RON unlocked by community incentives, about 68.935 million RON unlocked by Sky Mavis, about 98.09 million RON unlocked from staking rewards, and about 71.445 million RON unlocked by the ecosystem fund.

Overall, RON is a key component of the Ronin chain, and its economic mechanism and distribution strategy play an important role in promoting the healthy development of the ecosystem. As the applications and services on the Ronin chain continue to grow, the diverse value and strategic importance of the RON will be further revealed.

The competition in the game public chain market is extremely fierce, and the future of Ronin is full of uncertainty

Judging from the current market situation, Ronin has its own unique challenges and opportunities compared with other game public chains.

Currently, Ronin’s market valuation is slightly lower than that of its competitors, Immutable X and WAX, reflecting its relatively small ecosystem size, user base, and number of applications. Nonetheless, Ronin has grown significantly in the early days thanks to its focus on gaming needs and the traffic advantage of Axie Infinity, a major game.

In terms of the competitive landscape, Ronin faces multiple challenges and opportunities:

1. Competition of traditional multi-functional public chains: such as BSC Chain and Polygon, these public chains have become the main choice for GameFi projects with their strong technology and extensive user base.

2. Challenges of professional game public chains: Public chains such as Hive and Harmony, which focus on game applications, attract users with their unique gaming advantages.

3. Competition from other game-specific sidechains: Sidechains that also focus on games also constitute direct competition.

Ronin’s strength lies in its customized design and tight integration with Axie Infinity, which gives it an initial flow and user base. At the same time, Ronin’s almost zero gas fee design also reduces the cost of use for users and improves its attractiveness. However, Ronin also faces challenges such as the need to expand its gaming ecosystem, enhance security, and improve interoperability with major public chains.

In the future, with the rapid development of GameFi and the maturity of cross-chain technology, Ronin needs to continue to innovate and improve to maintain its competitiveness in the game chain industry. This includes attracting more developers to its ecosystem, providing richer game applications, and enhancing synergy and interoperability with other mainstream public chains.

Overall, Ronin’s future will depend on how it responds to the current competitive landscape and challenges, as well as how it innovates and adapts in the ever-changing GameFi landscape. By continuously improving its platform and ecosystem, Ronin has the potential to consolidate and expand its core position in the blockchain gaming space.

The performance of Ronin in the future market still needs to wait and see, and the deployment of developers has become the core force that determines the development of the ecosystem

Recently, the Ronin public chain has demonstrated its continuous vitality and innovation ability in the field of cryptocurrency and game chains. According to official Twitter, the public sale of Ronin Domain Name Service (RNS) was officially launched on November 16, and a 48-hour auction of selected high-value .ron domains was held. This move not only adds value to the Ronin ecosystem, but also further strengthens its integration with key apps such as Ronin Wallet, Ronin Explorer, Mavis Market, App.Axie, and Sky Mavis Account Service.

On the other hand, official news on December 6 revealed that DeFi protocol Impossible Finance will deploy its Launchpad on the Ronin network, which provides a new way for developers and game studios on Ronin to launch their own ERC-20 tokens. The move will facilitate the growth of more innovative projects within the Ronin ecosystem, and may also involve the use of tokens such as RON, AXS, and IDIA for staking and distribution.

These developments show that Ronin is actively expanding its reach and functionality in the blockchain gaming space. Through the launch of RNS and the partnership with Impossible Finance, Ronin has not only strengthened its technical infrastructure, but also brought more opportunities and convenience to its user and developer community. As more and more applications and services choose to be deployed on Ronin, we can foresee that Ronin will continue to play an important role in the game chain market and may become a significant force in driving blockchain gaming innovation.