Ronin Research Hub | RONIN information, history and analysis
Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.
In its first nine months, Ronin has racked up 250,000 unique daily active addresses, $5 billion in TVL, over 2 million wallet downloads, and 15% of all NFT transactions on the market. Its DEX Katana is the second-most popular decentralized exchange by weekly active users and allows users to swap tokens within the Axie Infinity ecosystem.
RONIN is a native coin of the Ronin ecosystem, operating on Ronin according to ERC20 standard, and can be used to:
- Pay transaction fees on Ronin Network.
- Secure Axie Infinity and future new titles.
- RONIN holders can participate in project governance through the DAO.
- Operate nodes, participate in farming, staking and platform administration.
Ronin network now welcomes developers to create games and dApps without restrictions, marking a shift from its previous curated blockchain model to an open, permissionless structure.
Since its launch in 2021, the RON token has achieved a market cap of 720 million USD, becoming one of the largest gaming chain tokens.
Sky Mavis aims to encourage rapid development and adoption in the Ronin ecosystem, fostering a blend of gaming with ecommerce and payment applications.
Ronin Network has introduced a grant program totaling 10,000,000 USD to promote blockchain development. This initiative, effective from January 16, particularly aims at projects related to gaming, consumer DApps, and DeFi.
Developers can apply for grants up to 300,000 RON tokens, with additional waypoint gas grants reaching 20,000 USD. The funding is milestone-based, with no set deadline and applications reviewed within four weeks.
Data from Nansen reveals that the Ronin Network experienced a significant increase in transaction volume on December 4. The network recorded 2.5 million transactions, marking a 26% growth compared to previous figures.
This surge in activity highlights the growing interest and engagement within the Ronin Network, which is known for its role in facilitating blockchain-based gaming and decentralized applications.
Ronin Bridge, the sidechain for Axie Infinity, underwent a breach, losing Ethereum worth $9.33 Million.
PeckShield, a blockchain security firm, identified the suspected activities and confirmed the theft of 3,999 ETH from Ronin Bridge. Following the Wipeout of funds, the sidechain halted its activities immediately.
On July 29, the on-chain data platform Token Terminal showed that the Ronin network recorded a two million DAU count, surpassing other active blockchains like Tron and Solana.
Tron was in the second spot with 1.8 million active users, while Solana had 1.2 million users in the last 24 hours.
Gaming blockchain Ronin has announced the upcoming launch of Ronin zkEVM, a zero-knowledge (ZK) Ethereum Virtual Machine (EVM) layer-2 chain built with a Sky Mavis-modified version of the Polygon Chain Development Kit (CDK).
This move is expected to enhance the permissionless environment, facilitating the integration of more gaming experiences in the network.
The latest update introduces several new features, including multichain support, an in-app web browser, a revamped visual design, and support for multi-party computation (MPC).
The Ronin wallet now supports the Ethereum mainnet, Polygon and BNB Chain.
Ronin to upgrade Neo and implement Miko hard fork
Ronin plans to upgrade Neo (v.27.1) and implement the Miko hard fork on February 26.
This upgrade will introduce a series of new features for Ronin, including REP-007 and REP-008, and will introduce sponsored transactions on the chain.
Ronin Network introduces new bridging function
Ronin Network, the game-specific Ethereum Virtual Machine (EVM) blockchain, has launched new bridging functionality.
The newly introduced features now support the transfer of both ERC20 and ERC721 tokens in a move designed to cater more effectively to users’ needs in the digital assets space.