Axie Infinity Developers Release Governance Token for Ronin Blockchain to Mixed Gamer Response CryptoGlobe

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On Thursday, Sky Mavis, the creator of the monster battle game, Axie Infinity, released their highly anticipated RON governance token. The token is based on its Ethereum (ETH) Ronin Network sidechain. Its purpose includes payment for transactions on Ronin, staking, and participation in community proposals.

According to its developers, Ronin has over 250,000 unique daily active addresses. When ranked by the number of weekly active users, Katana, Ronin’s decentralized exchange (DEX), is the second largest DEX. Additionally, the blockchain has surpassed $5 billion in deposited value, with 15% of all non-fungible token (NFT) transactions on the network in 2021. In total, there have been over 2 million downloads of Ronin wallet. It is also claimed to be environmentally friendly, with one Bitcoin allegedly using an amount of energy equivalent to almost 700 million Ronin transactions.

But hopes for a smooth launch were dashed by complaints from a number of Axie Infinity players. In Axie Infinity, users are rewarded with a perk called Smooth Love Potion (SLP) for completing tasks. Top users can earn around 1,400 SLP per day playing Axie Infinity, or 680 SLP if they join a guild. Due to the crypto bear market, SLP has fallen from $0.36 in May to $0.01 in recent weeks. Many players have taken to Twitter to express their frustration with Axie Infinity focusing on developing RON instead of doing more to support the value of SLP.

Nonetheless, players can get a break as 70 million out of an initial circulating supply of 185 million will be given to various community members (including players) for their contributions. At press time, each RON is currently worth 3.30 Tether (USDT) on OKX.