Ronin Network Officially Becomes Ethereum Layer 2, Reduces $RON Inflation

The @Ronin_Network has officially transitioned to an Ethereum Layer 2, marking a major milestone for the blockchain built to scale Web3 gaming. jihoz_axie, co-founder of Sky Mavis, announced the upgrade today, noting that Ronin now inherits Ethereum's security, reduces RON inflation by cutting validator reward costs, and processes transactions 50% faster.

"When we created Ronin, L2s were just an idea. Today, blob fees are affordable. The tech and security is battle tested," Jihoz wrote.

Key Upgrades

Alongside the L2 transition, Ronin activated its proof of distribution system, which programmatically disperses rewards to builders based on metrics historically correlated with RON momentum. The Ronin treasury has also been bolstered with new value streams: 1.25% of all NFT volume on Ronin, all sequencer fees, and 90 million RON previously allocated for staking rewards.

Context

Ronin launched as a sidechain in 2021 to support @AxieInfinity during Ethereum's congestion. The network has since expanded to host multiple games and apps, becoming a hub for gamified crypto experiences. By plugging into Ethereum as an L2, Ronin aims to tap into Ethereum's liquidity and network effects while reducing its own security costs.

"We are Ethereum's gamification engine," Jihoz added, calling the transition a "full circle moment" made possible by the Ethereum developer community.