Yield Guild Games Launches Native Token on Ronin Network

Yield Guild Games aims to use the newly launched YGG token to foster web3 gaming expansion

Yield Guild Games (YGG) has launched its native token YGG on the Ronin network. The move is aimed at driving growth and innovation within the ecosystem by attracting both gamers and games. At press time, the token gained by 2.79% in the last 24 hours, trading at $0.807. 

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that invests in non-fungible tokens (NFTs) for blockchain-based games and virtual worlds. Its mission is to create the biggest virtual world economy, by optimizing its community-owned assets for maximum utility and sharing its profits with its token holders.

YGG Launches Token on Ronin Network

In a post on Thursday, YGG disclosed that the launch of its native token on Ronin comes after a community-driven governance proposal that has been embraced by Sky Mavis, the developer of Axie Infinity, and the Ronin community. 

According to the post, the collaboration between YGG and Sky Mavis marks an ongoing commitment to advancing the web3 gaming space. It seeks to enable the community to seamlessly move between Ronin games and the YGG platform without the need to bridge out, making it easier for players to access the games. The token went live officially on Thursday, March 21, 2024.

How to Qualify for YGG tokens?

Users who must have staked RON tokens through the YGG validator before March 11, 2024, will receive YGG tokens through an airdrop. The number of tokens distributed will depend on the duration and amount of RON staked, with additional bonuses for long-term stakes.

For instance, wallets that stake RON tokens before January 1, 2024, will receive a 10% Loyalty Bonus, while those that have been staking earlier than June 1, 2023, will receive a 20% True Believer Bonus.

Furthermore, The YGG token will also be listed on Katana, Ronin’s native decentralized exchange, enabling liquidity pairings with other ecosystem tokens such as WETH/RON, and USDC/RON. 

“As Ronin continues to position itself as a leader in web3 gaming, YGG looks forward to further supporting the ecosystem and community by increasing our stake and participation in the network. The YGG token making its way to Ronin will open up opportunities to give more players access to more rewarding quests and other benefits,” Gabby Dizon YGG co-founder said. 

The post Yield Guild Games Launches Native Token on Ronin Network appeared first on Coinfomania.