$RON is the governance token for the Ronin blockchain.
RON’s release will increase the stability of the Ronin chain. Its main purpose is to secure and decentralize the network. RON will now be used to pay for gas fees which will result in a huge reduction in dropped transactions. This means that accounts will be able to submit more than 100 transactions per day.
The RON litepaper can be found here: Ronin Litepaper
Ronin validators will need to hold and stake RON to participate in validating blocks. They will be rewarded with newly issued RON and RON used for gas fees. This RON will be divided up among a validator and its delegates pro-rata based on the RON they have staked with the validator. The validator may also elect to take a fee from its delegates.
It is our goal to increase the number of validators. Sky Mavis will select the validators but we have not opened up being a validator to anyone yet. We’re working on building out a structured process for reviewing and onboarding more validators from the community.
Holders of RON will be able to stake their RON tokens with a validator to earn RON rewards and participate in governance of the network.
The maximum supply of RON is 1,000,000,000. The initial circulating supply is 175,000,000.
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