The Hyper Optimized Unique Scalable Blockchain

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Ronin was launched by Sky Mavis. It has proven to scale a sin­gle game to facil­i­tate mil­lions of dai­ly active users. It has processed over $4 Bil­lion in NFT vol­umes. The blockchain facil­i­tates seam­less instant trans­ac­tions with neg­li­gi­ble fees which makes it the first choice for Web3 games.

It has per­formed extra­or­di­nar­i­ly in its first nine months with 250,000 unique dai­ly active address­es, $5 Bil­lion in TVL, more than 2 Mil­lion wal­let down­loads, and 15% of all NFT trans­ac­tions on the market.

How did the Word Ronin emerge?

The word Ronin emerged from Feu­dal Japan, as it was used for Samu­rai who either lost in bat­tle, or wit­nessed the untime­ly death of their Lord, or due to their mis­deeds because of which they were removed from their noble spon­sor­ship. The sub­ject of Ronin is an inte­gral part of Japan­ese films set in Feu­dal Japan. .

A large num­ber of these samu­rai left their lords and became ronin. This high­lights the rev­o­lu­tion­ary mood of the coun­try at the time.

Creators of Ronin

Ronin was cre­at­ed by Sky Mavis. It is the team behind Axie Infin­i­ty and it is backed by some investors like Ani­mo­ca Brands, Par­a­digm, Lib­er­tus, Mark Cuban, etc. Jef­frey Zir­lin and Alexan­der Leonard Larsen are the cofounders of this blockchain.

How is Ronin Unique?

Hyper-opti­mized for gam­ing: Ronin accom­mo­dates mil­lions of dai­ly users. In 2021, the blockchain processed 15% of all NFT trad­ing vol­ume. This scal­able blockchain is sec­ond only to Ethereum for NFT sales by vol­ume. It is hyper-opti­mized for gam­ing. It ensures that there is min­i­mal spam and high uptime for games.

Use of DPos: This blockchain aims to grad­u­al­ly increase the decen­tral­iza­tion of Sky Mavis’ prod­ucts. At the time of its launch, Ronin used Proof-of-Author­i­ty (PoA) as its con­sen­sus mech­a­nism. In this sys­tem, val­ida­tors approved the trans­ac­tions. This mech­a­nism is crit­i­cized for being less decen­tral­ized com­pared to Proof-of-Stake (PoS) and Proof-of-Work (PoW).

To make the blockchain more decen­tral­ized, the team inte­grat­ed Del­e­gat­ed-Proof-of-Stake (DPoS) which includes fea­tures of del­e­ga­tion and val­ida­tor selec­tion. The token hold­ers del­e­gate their stake to select the val­ida­tors. The trans­ac­tion, along with new blocks and earn­ing rewards for work are ver­i­fied by these validators.

Envi­ron­men­tal­ly friend­ly: It is com­par­a­tive­ly envi­ron­men­tal­ly friend­ly. One Bit­coin trans­ac­tion uses as much ener­gy as 695,505,316.31 Ronin transactions.

Backed by Sky Mavis: Ronin is backed by Sky Mavis, and their expe­ri­ence in build­ing and scal­ing Axie Infin­i­ty has giv­en them unique insights into the devel­op­ment of the prod­uct, com­mu­ni­ty build­ing, and mar­ket. They also pro­vide advi­so­ry support.

Ronin is secure: Sky Mavis has faced many scal­ing road­blocks and secu­ri­ty threats. It faced the Ronin Val­ida­tor Breach in March 2022 where 173,600 ETH and 25.5 Mil­lion USDC were drained from the Ronin Bridge. It was an attack by hack­ers and not caused by a tech­ni­cal flaw. Sub­se­quent­ly, the team imple­ment­ed robust secu­ri­ty mea­sures to pre­vent future attacks. The codes under­went thor­ough review, incor­po­rat­ing insights from secu­ri­ty experts into the entire architecture.

Who can Become a Delegator and How is Staking Conducted on Ronin?

The token hold­ers who do not have enough RON to meet the min­i­mum require­ments can earn the stak­ing reward and take part in the net­work as del­e­ga­tors. For this, the del­e­ga­tor has to con­tribute their RON stake to any validator.

The stak­ing token is called RON; those token hold­ers who have a min­i­mum of 250,000 RON can become val­ida­tors. Stak­ing takes place at the begin­ning of the day. The val­ida­tors are select­ed dai­ly based on the high­est amount they staked.

Val­ida­tors can un-stake and renounce their role after a wait­ing peri­od of a week. Del­e­gates can un-stake in three days since they last staked into this validator.

Ronin (RON) Market Analysis and Tokenization

At press time, mar­ket cap­i­tal­iza­tion stood at $454,629,903, along with a cir­cu­lat­ing sup­ply of 276,637,252 RON. The ful­ly dilut­ed mar­ket cap is $1,643,213,307.

The total sup­ply of RON is capped at 1 Bil­lion. Launched on the native Katana DEX, no pri­vate sales have been con­duct­ed, and dis­tri­b­u­tion occurs through an incen­tivized liq­uid­i­ty pro­gram. Quar­ter­ly, the issuance will decrease. The token will be dis­trib­uted as follows:

  1. 25% rewards allo­cat­ed for stak­ing and bridge incentives.
  2. 30% allo­cat­ed for a com­mu­ni­ty that includes liq­uid­i­ty min­ing, con­tent cre­ation, grants, and reward programs.
  3. 30% for the team (Sky Mavis).
  4. 15% for ecosys­tem fund that com­pris­es grants, invest­ments, and hackathons bring­ing appli­ca­tions, game-chang­ing con­tent, and tool­ing to Ronin.

There are two sources of rewards for val­ida­tors, the trans­ac­tion fees and 90% of the stak­ing reward. When a block is gen­er­at­ed by a val­ida­tor, they earn trans­ac­tion fees in that block along with some fixed amount of the stak­ing reward.

How­ev­er, the reward is not sent direct­ly to the val­ida­tor but is dis­trib­uted and stored on a smart con­tract. At the end of each day, the smart con­tract allo­cates the reward to eli­gi­ble val­ida­tors and their del­e­ga­tors. Hence, the val­ida­tors and their del­e­ga­tors can claim the allo­cat­ed reward at the end of the day. RON is avail­able on DEX, OKX, and Katana.

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