Ronin will empower and support talented developers working on innovative projects in the crypto space with its $10M ecosystem grants.
Unveiled on the 16th of January, the Ronin Ecosystem Grants will offer a total of $10 million to support talented developers working on innovative projects in the crypto space. The grant program, which is part of Ronin’s broader Operation Leviosa, is designed to encourage the next generation of builders to harness the capacity of the Ronin blockchain.
The program is open to developers who want to create tools, applications, and platforms that enrich the Ronin ecosystem. Selected participants will receive funding ranging from $20,000 to $300,000. depending on the scale and impact of their projects.
In addition to financial support, grant recipients will gain valuable exposure within the Ronin community, allowing them to showcase their ideas to the Ronin community, especially investors. They will also have the chance to connect with other innovators and experts within the Ronin ecosystem.
Ronin’s goal with this program is to push the boundaries of what’s possible in blockchain technology and create a space where creative thinkers can thrive. With $10 million on the table, this is an opportunity for developers to bring their visions to life and contribute to the future of the Ronin Network.
The Ronin Network is a blockchain platform designed to make using cryptocurrency and blockchain technology faster, cheaper, and easier. This makes it ideal for projects like games, collectibles, and decentralized apps.
Ronin gained popularity as the backbone of Axie Infinity, a well-known blockchain game. It enables players to buy, sell, and trade items within the game without incurring high fees or enduring long transaction times.
Two months ago, Ronin Network rolled out significant changes to Katana, its decentralized exchange (DEX), to enhance performance and sustainability. These updates introduced new features while reducing liquidity providers’ rewards by 75%, aiming for cost savings and better management of RON’s supply.
Sky Mavis, the company behind Ronin, has explained its decision to reduce rewards. The current reward rates, which could reach up to 70% annually, haven’t encouraged as many people to add liquidity to the platform as anticipated.
These high rewards led to an overproduction of RON tokens, causing inflation without delivering sufficient benefits.
To address this, starting in early 2024, Sky Mavis will initially cut rewards by half, followed by further reductions over time. This strategy aims to balance the system and ensure long-term sustainability.
