What are Ronin tokens?

The Ronin token, universally recognized as RON, functions as the fundamental fuel powering transactions within the Ronin blockchain ecosystem. As a gas token, it is an indispensable component for users navigating the network, ensuring seamless and efficient processing of their blockchain-based endeavors.

To facilitate these transactions, Ronin network participants must possess a minimal amount of RON. This requirement underscores the token's essential role in maintaining the network's operational fluidity and facilitating the exchange of value between participants.

Beyond merely facilitating transactions, RON offers additional avenues for engagement within the Ronin blockchain. Specifically, users can stake their RON to actively participate in the network's Delegated Proof of Stake (DPoS) consensus mechanism. This process not only contributes to the network's security and stability but also rewards stakers with a share of the block rewards.

Moreover, RON's staking capabilities extend beyond the DPoS mechanism, embracing the vast landscape of decentralized finance (DeFi). By staking RON, users can unlock a myriad of DeFi opportunities, engaging in lending, borrowing, trading, and other financial activities that leverage the blockchain's decentralized and transparent nature.

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