Ronin (RON)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Ronin went live on mainnet (1-2-2021).

History

Originally created by the team behind Axie Infinity.

Audits & Exploits

• Bug bounty program can be found [insert here].
• DeFi Safety called Ronin 'the least secure network in DeFi'.

Bugs/Exploits

• From Bitcoin.com (6-8-2024):

"Ronin Network stated that digital assets worth $12 million, siphoned by so-called white hat hackers on August 6, were returned in full the same day. The Ronin team mentioned that they paused the bridge approximately 40 minutes after the first on-chain action was detected. The team also assured users that their funds were “safe and any shortfalls will be re-deposited into the bridge when it reopens.” In the previous exploit of the bridge [back in 2022], digital assets worth over $600 million were stolen."

Token

Launch

• A RON token for Ronin got teased on 13-10-2021, shortly after Sky Mavis raised 152m in private investment, hinting that RON is probably their way of returning money to their investors.

Utility

Got its token launched (27-1-2022). To 'improve its utility' free tx were reduced and users need to own RON for fees (26-4-2022).

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].
• Consensus mechanism: PoA
• Algorithm:
• Virtual Machine:
• Development language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From 98coins (26-11-2021):

"Ronin mainnet uses Proof-of-Authority. PoA is a modified version of PoS and validators on PoA are usually less than 25. In the early stage of the Ronin Network, Sky Mavis will have sole discretion around validators. Therefore, the team has recruited an all-star cast of partners from the traditional gaming, crypto, and NFT space to serve as validators of the network such as Binance, Unisoft, Animoca, Nonfungible.com, Dapp.com"

Staking

Validator Stats

• From The Block (17-8-2022):

"Ronin has added three new validators to the project, and increased its validator set to 17. The new Ronin validators include Efficient Frontier, Community Gaming and Nansen."

• From Crypto Briefing (24-12-2020):

"French gaming giant Ubisoft is the inaugural validator on the Ethereum sidechain. Besides Ubisoft, the list of validators includes leading cryptocurrency exchange Binance, NFT data provider NonFungible.com, gaming company Animoca Brands, and investment firm Sparq."

Their Other Projects

L2 as a Service

It will offer the ability for developers to deploy their own dedicated layer-2 chains via zero-knowledge zkEVM tech built with Polygon's Chain Development Kit. Developers will need to stake 250,000 RON (about $568,000 worth at present) to run a validator before launching a new chain, with economic activity on the layer-2 networks potentially increasing staking rewards for delegators.

Roadmap

• Can be found [Insert link here].

Usage

Other notable games, besides Axie Infinity, based on Ronin include Ragnarok: Monster World, Apeiron, Kaidro, and The Machines Arena. The network now has 1.4 million daily active addresses (6-2024).

Team, Funding and Partners

Team

• Full team can be found [here].

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