Sky Mavis releases RON governance token for Axie Infinity’s Ronin sidechain

The Sky Mavis studio behind Axie Infinity released the RON governance token for the Ronin sidechain.

Time’s up let’s do this…

RON IS LIVE!

Full announcement 👇🏻https://t.co/DL4sqT9nJH pic.twitter.com/fPK6USXBqo

— Axie Infinity🦇🔊 (@AxieInfinity) January 27, 2022

The asset appeared on OKX exchange (formerly OKEx).

📣 $RON — the native token of @Ronin_Network, a #blockchain gaming company behind @AxieInfinity, gets listed on #OKX!

▶ Deposit is NOW open
📈 Spot trading for RON/USDT will open once the deposits meet the minimum liquidity requirement#NewListing ⤵️

— OKX (previously OKEx) (@okx) January 27, 2022

On the Katana decentralized platform, the token is traded in a WETH pair. The liquidity mining program will start on January 28 and run until February 3.

«RON теперь используется для оплаты транзакций на Ronin! Пользователи будут получать бесплатные транзакции за хранение Axies и/или земли в своих кошельках Ronin», — the developers noted.

The project’s litepaper states that to participate in Ronin’s consensus, validators must hold and stake the new tokens. In return they will receive rewards in the form of newly minted RON.

The team said they would roll out a developer incentive program in the coming weeks.

As a reminder, a plot of virtual land in Axie Infinity was sold for a record 550 ETH.

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