What Is Ronin ($RON)? RON Price Prediction After Listing

8UNx...RQtg

6 Feb 2024

KEY TAKEAWAYS

Ronin Network is a sidechain linked to Ethereum, built and developed to facilitate fast and low-cost transactions for the Axie Infinity game.
Ronin Network utilized the Proof of Authority (PoA) consensus protocol with usually fewer than 25 validators.
Ronin Token is the native token of the Ronin Network, symbolized as $RON or $RONIN (on Binance).
In the short term, RONIN appears to be a promising token for trading, especially since its price has experienced significant growth after being listed on Binance. However, for long-term considerations, you need to weigh in more factors.

1. WHAT IS RONIN NETWORK CRYPTO?

Ronin Network is a sidechain linked to Ethereum, built and developed to facilitate fast and low-cost transactions for the Axie Infinity game. Additionally, Ronin Network envisions itself as a blockchain for developers to participate in building the Web3 gaming ecosystem in the future.

What is Ronin? | Source: CyberKongz

Currently, Ronin Network utilizes the Delegated Proof of Stake (DPoS) consensus mechanism, combining elements of Proof of Stake (PoS) and Proof of Authority (PoA). This mechanism selects validators based on their reputation as legitimate stakers. This serves as a foundational step for Ronin Network to implement features such as running nodes, staking, and platform governance with the RON token.

2. HOW DOES RONIN NETWORK WORK?

Previously, Ronin Network utilized the Proof of Authority (PoA) consensus protocol with usually fewer than 25 validators. To secure the project, Sky Mavis granted authorization to prominent partners in various fields to act as validators, such as Animoca Brands, Binance, and others.
The role of validators on Ronin is to create, validate blocks, process the transfer, and store assets between Ronin and Ethereum, including ERC20 tokens and NFTs. However, this approach led to issues such as platform centralization, a lack of validator diversity, and fewer benefits for RON holders.
Recently, Ronin announced a shift in its operational mechanism from PoA to Delegated Proof of Stake (DPoS) – a mechanism that selects validators based on their reputation as legitimate stakers rather than relying on wealth or actual identity. This means that even small-scale investors can now start running nodes, staking RON to receive rewards.

3. RONIN NETWORK ECOSYSTEM

Currently, Ronin Network offers the following products:

GameFi: Axie Infinity is the flagship game on Ronin Network. Additionally, Ronin has announced the development of five games on this sidechain, including The Machines Arena, Tribesters: Island of the Solas, Axie Match3, Bowled, and Battle Bears Heroes.
Mavis Hub: This is the account management platform for the Axie Infinity game on Ronin Network.
Marketplace: This is the NFT trading marketplace within Axie Infinity.
Katana DEX: A decentralized exchange (DEX) on Ronin Network. Katana supports the trading of tokens such as USDC, WETH, SLP, and AXS.
Ronin Wallet: This is a wallet for storing various assets on Ronin Network.
Ronin Explorer: A search and transaction lookup tool on Ronin Network, similar to Etherscan.
Ron Staking: A feature allowing users to stake RON to earn rewards while contributing to better network security.
Ronin Bridge: A bridge facilitating the transfer of assets between Ronin Network and Ethereum.
Ramp: A tool enabling users to purchase cryptocurrencies on Ronin Network using fiat currency.
MetaLend: A lending project on Ronin Network that allows players to use NFTs as collateral to borrow WETH.
Scatter: A feature enabling the sending of tokens to multiple wallet addresses on Ronin Network.

With these existing products, one can discern Sky Mavis' vision of developing Ronin into a dedicated blockchain for the GameFi sector in the future.

Ronin Ecosystem | Source: Ronin Network

4. WHAT ARE RONIN NETWORK GAMES

4.1. Axie Infinity

Axie Infinity is a popular game developed by Sky Mavis, inspired by Pokemon, that allows players to collect digital pets called Axies based on Non-Fungible Tokens (NFTs). Players can nurture their Axies and use them for battles to earn rewards.

Axie Infinity

4.2. Pixels

"Pixels" is a role-playing farm game combined with adventure elements that players can participate in completely for free. The game is built on the Ronin Network with pixel-style graphics, providing high compatibility for easy participation by players.

Pixels

4.3. Wild Forest

"Wild Forest" is a real-time strategy (RTS) game featuring PvP battles and engaging card collection elements. Players can experience the essence of traditional RTS games with a fast-paced rhythm, including base building, resource management, and control over individual units.

Wild Forest

4.4. Battle Bears

"Battle Bears" is a MOBA (Multiplayer Online Battle Arena) game where players engage in intense and humorous battles. With a top-down perspective, the main characters are bears who fight against each other in various 3v3 game modes, including Mini MOBA, Brick Battle, Deathmatch, and Battle Royale.

Battle Bears

4.5. The Machines Arena

"The Machines Arena" is a fast-paced hero shooter game developed by Directive Games Limited. It falls under the category of fast-paced hero shooters. The game features both PvP (Player versus Player) and PvE (Player versus Environment) modes, allowing players to showcase their skills to earn special rewards such as NFTs or high-value items.

The Machines Arena

5. WHAT ARE KEY FEATURES OF RONIN NETWORK

The notable features of Ronin Network include:

Fast Transaction Processing and Low Transaction Fees: Ronin Network is recognized for its ability to process transactions quickly and with low transaction fees, providing favorable conditions for users participating in network activities.
Ronin Bridge: The Ronin Bridge allows users to freely move tokens, including ERC20 and NFTs, between Ronin Network and Ethereum. This enhances flexibility and interaction between the two blockchain networks.

6. WHAT IS RONIN NETWORK TOKEN ($RON)?

Ronin Token is the native token of the Ronin Network, symbolized as $RON or $RONIN (on Binance).

6.1. Ronin Network Coin Price

The current price of Ronin stands at $2.51 USD, and the 24-hour trading volume is $197,436,042 USD. We provide real-time updates on the RON to USD price. Over the last 24 hours, Ronin has experienced a decrease of 25.61%. The current market cap is $743,391,234 USD, and the circulating supply is 294,441,851 RON coins, with a maximum supply yet to be mentioned.

Ronin Network Price | Source: Klarda

6.2. Ronin Network Tokenomics

Name: Ronin
Ticker: RON/RONIN
Blockchain: Ronin
Token Standard: ERC-20
Contract: 0xe514d9deb7966c8be0ca922de8a064264ea6bcd4
Total Supply: 1.000.000.000 RON
Circulating Supply: 269.930.253 RON

6.3. Ronin Network Token Allocation

The entire 1 billion RON is allocated as follows:

Ronin Network token Allocation | Source: CoinMarketcap

6.4. Ronin Network Token Use Cases

The RON token is utilized in the following cases:

As transaction fees on the Ronin Network.
Used for securing Axie Infinity and upcoming games in the future.
RON holders can participate in project governance through DAO (Decentralized Autonomous Organization).
Used for running nodes, farming, staking, and platform governance.

7. IS RONIN NETWORK A GOOD INVESTMENT

To determine whether RONIN is a good investment or not, there are numerous factors to consider, and it also depends on your trading habits and objectives. In the short term, RONIN appears to be a promising token for trading, especially since its price has experienced significant growth after being listed on Binance. However, for long-term considerations, you need to weigh in more factors.

Ronin Network Indexes by Klarda

8. RONIN NETWORK TOKEN PRICE PREDICTION

Drawing insights from Ronin's historical price patterns and the BTC halving cycles, the projected annual minimum Ronin price for 2025 is anticipated to be $1.821448. Simultaneously, it is forecasted that the Ronin price could surge to a peak of $2.85 in the coming year. Applying a similar methodology, here are the Ronin price predictions for each year leading up to 2030.

Ronin Network Price prediction | Source: Coincodex

9. HOW TO BUY RONIN NETWORK?

Currently, you can buy/sell and trade RONIN on centralized exchanges such as Binance, BingX, OKX, or trade RON as a derivative asset.

10. HOW TO ADD RONIN NETWORK TO METAMASK?

The Ronin Wallet serves as a dedicated entry point to the Ronin blockchain, providing a user-friendly experience similar to wallets like MetaMask and Coinbase Wallet for their respective networks. Setting up your wallet within Ronin's ecosystem is a simple process:

Visit the official Ronin Wallet website.
Choose 'Download Wallet' and install the application on your preferred device.
Create your account, paying careful attention to secure your recovery phrase.
Deposit tokens into your newly created Ronin wallet address, and you're all set to interact with the Ronin blockchain.

11. MORE INFORMATION ABOUT RONIN NETWORK

11.1. Ronin Network Investors

Ronin Network has received approximately $150 million in investment from prominent investors in the crypto market, including a16z, Binance Labs, Animoca Brands, and others.