（19）How much Ron will cost in transaction

 

1/ Today we take a closer look at $RONs utility and will try to answer: -How much could I need? -What the $ cost of a transaction may be?

2/ In the future $RON will be used to pay for transactions on Ronin First, we need to understand that when you pay a tx fee, you’re paying for blockspace on Ronin. This takes place in an auction styled manner where you’re “bidding” a price you’d pay for blockspace

3/ Two terms we’ll need to understand in this bidding process are GWEI and GAS: - GAS is how much blockspace you need for a tx - GWEI is how much you’re willing to pay/bid for GAS

4/ Below we see that each block on Ronin has a Gas limit of 100,000,000 and in this case only 463,536 was used in 3 transactions. In this block you wouldn’t need to bid very high for gas (low GWEI) since there’s no competition as the block was only 0.46% full

5/ When blocks get full, bidding becomes more complex; for now blocks on average are only ~10% full I’ll post data on this at a latter time, but we did have our first few 100% full blocks post Katana Launch before dropping back down to ~10% capacity

6/ Below is a table with estimates of how much GAS different types transactions take. You can see Breeding and Creating Auctions take the most GAS while transferring SLP/ETH/AXS/RON take the least These are estimates b/c the same tx type can vary in gas usage each time

7/ GAS numbers may seem big, but have no fear! To calculate how much $RON you need for a tx you use: $RON = GAS x GWEI x 10^-9

Below is a REAL example of this formula: GWEI = 1, GAS = 21004, RON cost = 0.000021004 I covered before how some accounts have RON and use it already

 

8/ That’s a small number! At a price of 1 GWEI you could repeat this transaction 47,610 TIMES with 1 RON When you do the math, even the most gas intensive txs, Breeding Axies or Creating auctions, could be repeated +2,400 times with 1 RON

9/ This could change over time as blocks fill up and there’s higher demand on Ronin, but this gives a reference to think about Now for how much a TX could cost? This comes down to what your price speculation is for $RON but clearly you can see you don’t need much

10/ Below are estimates at 1 GWEI what various transactions could cost based on a range of $1 to $100 for $RON. Until Ronin has consistently full blocks, fees look to be low on a $ perspective based on this RON price range

11/ To summarize, until blocks are constantly 100% full, 1 RON will allow you to do +2,400 txs. This makes the tx price under $0.04/tx even at very high $RON speculation prices A little $RON could go a long ways NFA, DYOR