Ronin, the gaming-focused blockchain once synonymous with the industry’s infamous $625 million exploit, will officially shed its sidechain aspect on May 12 to become a layer 2 of Ethereum to improve security while maintaining performance.
Ronin, which announced the migration in April, will execute a hard fork on block 55,577,490, a process that will result in approximately 10 hours of downtime for users, the network said Monday on X. According to on-chain data, the migration is expected to begin on Tuesday around 15:16 UTC.
“Four years ago, we launched Ronin because Axie Infinity needed a faster, more efficient network,” Ronin said in announcing the migration. “It worked. Axie Infinity brought millions of players into crypto, and Pixels proved it could be done again.” The time has come to reconnect “to the mothership.”
While operating as an independent sidechain in mid-May 2022, Ronin suffered what is still today the largest DeFI bridging exploit in history. Layer 2 protocols benefit from closer ties to the underlying blockchain than sidechains, offering benefits including greater security.
The network’s native token, RON, is currently trading at around 11 cents with a market capitalization of approximately $89.5 million, according to data from CoinDesk. While the token remains significantly below its 2024 peak, the migration sparked a rally, with prices rising 30% in the last 30 days as investors note a shift in the network’s supply dynamics.
“During this period of inactivity, all network transactions [including transfers, swaps, and smart contract interactions] will be paused,” Ronin said, adding that all games that use its network will also be affected. “To avoid any inconvenience, please complete all necessary transactions/chain game actions on the Ronin network before the downtime begins.”
During the downtime, a “Proof of Distribution” model will be introduced to reward builders based on active network contribution rather than passive staking, Ronin said. The team noted that “this is fundamentally bullish for RON as it dramatically reduces token inflation from over 20% to less than 1%.”
The company also said that the transition to OP Stack will allow it to inherit the strong security of Ethereum while maintaining high performance. The move redirects 90 million RON tokens previously earmarked for staking rewards to Ronin Treasury, while more than doubling market fees from 0.5% to 1.25%.
Ronin said his narrative is dominated by his fundamental return to Ethereum, a strategic move to reset its economy, secure its bridging infrastructure and secure its future in an upgrade aimed at improving scalability and reducing costs by using EigenDA for data availability.
