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Ronin

Ronin

Ronin Network is an Ethereum-linked sidechain made specifically for blockchain gaming built by Sky Mavis—a company behind Axie Infinity.

OverviewStructured DataIssuesContributors

Contents

roninchain.com
Is a
Organization
Organization
Company
Company

Company attributes

Industry
Gaming
Gaming
0
Blockchain
Blockchain
0
Blockchain and cryptocurrency
Blockchain and cryptocurrency
0
Non-fungible token (NFT)
Non-fungible token (NFT)
0
Play-to-earn (gaming)
Play-to-earn (gaming)
0
B2X
B2B
B2B
Spun Out From
Sky Mavis
Sky Mavis
0
Investors
Banter Capital
Banter Capital
Solanium
Solanium
Solar Eco Fund
Solar Eco Fund
NGC Ventures
NGC Ventures
SkyVision Capital
SkyVision Capital
Solidity Ventures
Solidity Ventures
Delphi Digital
Delphi Digital
SMO Capital
SMO Capital
...
Founded Date
2021
0
Total Funding Amount (USD)
4,500,000
Competitors
BitGo
BitGo
0
Blockdaemon
Blockdaemon
0
Myetherwallet
Myetherwallet
0
Venly
Venly
0
Boba Network
Boba Network
0
Aurora Labs
Aurora Labs
0
Polygon
Polygon
0
Fireblocks
Fireblocks
0
Business Model
Transaction processing / marketplace0
Latest Funding Type
Private equity
Private equity

Other attributes

Company Operating Status
Active
Launch Date
November 1, 2016
Overview

Ronin is an EVM-based blockchain developed for play-to-earn games. Ronin was developed by Sky Mavis, a play-to-earn game development studio, with the intent to decentralize blockchain games. One of the most popular games built on Ronin is Axie Infinity, which experienced a 300 percent month-on-month increase in NFT trading volume in its first month on the Ronin blockchain.

Besides Sky Mavis and the popular game Axie Infinity, other game studios have developed games on the blockchain. These include games studios Directive Games, Tribes, Bali Games, and Bowled.io.

Ronin exploit

In 2022, Ronin experienced an exploit on their blockchain, which resulted in a loss of around $625 million in USDC and ether. According to Ronin, the exploit was not technical but was a social engineering exploit in which malicious individuals gained access to private keys, which were used to develop fake withdrawals.

Within a year of the exploit, Ronin changed its validation method on their blockchain to ensure Ronin is more decentralized and less susceptible to a similar type of attack. The new system secures the blockchain through various users staking RON tokens to earn interest and maintain the operation of the network.

Ecosystem

The Ronin ecosystem is developed around the EVM-blockchain developed for gaming, which is further optimized for near-instant transactions and nominal fees intended to enable more in-game transactions to occur near seamlessly. The Ronin blockchain initially used a proof-of-authority consensus, where trusted validators maintained the networks and verified transactions. However, due to concerns around the decentralization of PoA consensus methods, Ronin moved to a Delegated Proof of Stake (DPoS) for validator selection, which allows any person holding enough of Ronin's native token—RON—to become a validator.

RON

The RON token is the utility token of the Ronin blockchain ecosystem. The token enables users to pay for transactions on Ronin and is used for community governance and utility via staking, where validators can stake the coin to earn rewards. Validators on the Ronin blockchain are required to hold and stake RON to participate in validating blocks and are rewarded with newly issued RON. The rewards of these RON are divided among validators and delegators.

dApps

The Ronin ecosystem also includes several decentralized applications (dApps) that are built on the Ronin blockchain and intended to make building and playing the games on the Ronin blockchain easier.

Ronin Bridge

Ronin Bridge is an application developed to transfer tokens between the Ethereum and Ronin chains and is a multi-signature bridge, which means it requires approval from multiple bridge operators before a transaction is executed. This is intended to improve the security and trustworthiness of these cross-chain transactions and to make it harder for malicious actors to make unauthorized changes.

Ronin Block Explorer

The Ronin Block Explorer is, as it name suggests, is a block explorer application that allows users to access real-time blockchain information, such as transactions, blocks, addresses, contracts, and tokens. It allows users to review transaction history, track transaction progress, and find accounts and contracts.

RON Staking

The RON Staking dApp is an application that allows users—specifically RON token holders—to decide which validators to delegate their RON to, manage their stake, and claim rewards.

Ronin Safe

Ronin Safe is a multi-signature wallet built around Gnosis Safe. As a multi-signature wallet, it requires multiple keys to sign a transaction before it can be executed to ensure security, and this can be as simple as setting up multiple devices, such as a combination of wallets, to confirm transactions.

Katana

Katana is a decentralized exchange that allows users to trade tokens in the Ronin ecosystem, which offers several features, including Swap, which allows users to trade ERC 20 tokens; Pool, which enables users to deposit liquidity and earn market-making fees and additional RON rewards; Farm, where users can stake liquidity pool tokens to farm RON; and Analytics, which allows users to check earned fees.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

Katana - Katana Docs

https://axie-infinity.gitbook.io/katana-docs/

Web

References

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