Ronin Blockchain Introduces New RON Liquidity Pools
Introduction to Ronin's New RON Liquidity Pools
Ronin Blockchain, known for hosting the popular Web3 game Axie Infinity, has unveiled rewards for its new RON liquidity pool. This strategic move aims to transition emission rewards, previously distributed through WETH pairs, to the new RON pairs. The launch of these liquidity pools on the Katana DEX marks a significant milestone for Ronin.
Enhancing Liquidity and Market Dynamics
The introduction of RON liquidity pools is set to enhance the liquidity and accessibility of the RON token. By acting as the primary market maker, these pools will lock pairs of tokens in smart contracts, redefining the dynamics of matching buyers with sellers. This initiative aims to create an efficient market for most token pairs, incentivizing users by allowing liquidity providers to earn rewards from trading fees.
Transition to Delegated Proof of Stake (DPoS)
These new liquidity pools are pivotal in Ronin's transition to a Delegated Proof of Stake (DPoS) consensus algorithm. This shift will facilitate easier acquisition and staking of RON, offering users opportunities to deposit liquidity, stake liquidity pool tokens, and earn RON rewards proportionate to their contributions.
Emission Rewards and Pool Details
The daily emission rewards for various pools are outlined as follows: RON/WETH pools will distribute approximately 60,422 RON, RON/AXS pools around 24,169 RON, RON/SLP pools about 12,084 RON, and RON/USDC pools will offer approximately 24,169 RON. The previous WETH/AXS and WETH/SLP pools will no longer offer emission rewards, though they remain open for liquidity provision.
User Interface and Transition Updates
Ronin has updated its user interface to prevent further deposits into old farms, urging liquidity providers to shift to the new RON pools. The Katana analytics dashboard will soon reflect these changes. Users should anticipate potential high price slippage on the Katana DEX shortly after the reward launch.
Broader Market Impact and Future Prospects
Since the beginning of the year, Ronin's main token, RON, has surged significantly, reflecting broader market trends. This transition to DPoS aligns with the industry's shift towards more eco-friendly consensus algorithms, following Ethereum's lead with its move to Proof of Stake. Ronin's new liquidity pools are instrumental in this evolution, supporting its growing ecosystem.
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