Ronin Wallet is an add-on type of wallet to access the newly created Ronin network. The assets on this network include, most prominently, Axie Infinity (AXS) and its auxiliary token, Smooth Love Potion (SLP).
Soon, Ronin Wallet will also be needed to hold the new RON tokens. Ronin Wallet can be linked to the Katana decentralized exchange (DEX).
How to Get Ronin Wallet
Ronin Wallet, similar to Metamask Wallet, is a browser extension that connects to the network’s latest state and displays a user’s balance.
Ronin Wallet can be installed as a Chrome or Firefox browser extension. After installation, follow the prompts to create a strong password and a backup of the 12-word phrase used to derive the private key.
Ronin Wallet has been created deliberately to work in a similar way to MetaMask, Binance Wallet, Phantom Wallet and other browser extension tools.
What Assets are Supported by Ronin Wallet
Ronin Network was specifically created to speed up Axie Infinity and avoid high gas fees on Ethereum. However, Ronin Wallet supports Wrappet Ethereum, or WETH, compatible with the Ronin network. WETH can be used in building up liquidity for decentralized trading pairs.
How to Link Ronin Wallet with Axie Infinity
The chief reason for Ronin Wallet is to be used within the Axie Infinity ecosystem. Besides MetaMask, Ronin Wallet can be linked to an Axie Infinity account.
Ronin Wallet can then hold AXS, SLP and NFTs related to the Axie Infinity gameplay.
How to Load Assets on Ronin Wallet
Once linked to Axie Infinity, it is possible to gain RON, SLP or other assets. If the Axie Infinity game was used with MetaMask, this means all tokens exist on the Ethereum network.
To bridge tokens from Ethereum to Ronin and vice versa, there is a bridge service provided by the Sky Mavis development team. Bridging to and from Ronin network requires adequate funds for gas fees in ETH, else the transaction may get stuck.
Bridging back from Ronin Network may be necessary to sell SLP on Binance or another exchange that supports the ERC-20 version of SLP. Exchanging SLP for USD, PHP or another fiat currency may be limited to specific networks and exchanges and subject to local regulations.
When is the RON Token Coming
The RON token has no deadline for listings or liquidity farming. The FTX exchange has launched perpetual futures, but RON is still in its initial stage.
RON can be generated by staking SLP and WETH in Katana DEX liquidity pairs. This tool for token generation may be risky and lead to temporary losses.
