Axie Infinity devs release governance token for Ronin Blockchain to mixed player response

On Thursday, Sky Mavis, the creator of the monster fighting game, Axie Infinity, released his long-awaited RON driving token. The token is based on its Ethereum (ETH) side chain Ronin Network. Its purpose includes paying for Ronin’s transactions, lighting them up and participating in community proposals.

According to its developers, Ronin has more than 250,000 unique daily active addresses. When ranked according to the number of weekly active users, Katana, Ronin’s decentralized exchange (DEX), is the number 2 largest DEX. On top of that, the blockchain surpassed $ 5 billion in deposited value, with 15% of all nonfungible token (NFT) transactions taking place on the network in 2021. In total, there were more than 2 million Ronin wallet downloads. It is also claimed to be environmentally friendly, with one Bitcoin allegedly using an equivalent amount of energy up to nearly 700 million Ronin transactions.

But hopes of a smooth launch have been offset by complaints from a number of Axie Infinity players. In Axie Infinity, users are rewarded with an asset called Smooth Love Potion (SLP) for completing tasks. Top users can earn around 1,400 SLPs per day by playing Axie Infinity, or 680 SLPs when joining a guild. Due to the crypto-bear market, SLP has fallen from $ 0.36 in May to $ 0.01 in recent weeks. Many players went to Twitter to express their frustration over Axie Infinity changing their focus in developing RON instead of doing more to support the value of SLP.

Players can still get some respite as 70 million from an initial circulating stock of 185 million will be given to various community members (including players) for their contributions. At the time of publication, each RON is currently worth 3.30 Tether (USDT) on OKX.