In Brief:
- Ronin will migrate to Ethereum on May 12, reducing RON inflation from over 20% to less than 1%.
- A new merit-based reward system, Proof of Distribution, will allocate RON to builders based on on-chain activity.
- Planned downtime for the migration will last approximately 10 hours, during which key on-chain actions will be unavailable.
Migration details
Ronin is set to transition to Ethereum as a Layer 2 network on May 12, with the migration hardfork targeting block #55577490. Following this change, RON inflation will decrease dramatically, dropping from over 20% to below 1%. This adjustment is expected to significantly reduce the number of tokens entering circulation through reward emissions.
New reward system
The network will introduce Proof of Distribution, an automated reward mechanism that ranks builders monthly based on their Builder Scores. These scores will consider metrics like NFT volume and gas spend, with quarterly reviews by Sky Mavis leading to potential adjustments. Interested parties can register for this new system ahead of the migration.
Treasury adjustments
Post-migration, the Ronin Treasury will benefit from new income streams. The Ronin Marketplace fee share will increase from 0.5% to 1.25%, and net sequencer profits will contribute further inflows. Staked RON that remains staked as of May 12 will be automatically unstaked once the migration concludes.
Downtime and operator requirements
The migration will cause an estimated 10 hours of downtime between 8 a.m. and 6 p.m. PT. During this period, token swaps, NFT trades, and unstaking will be offline. RPC node operators on the Ronin Mainnet must upgrade to release 1.2.2 prior to the hardfork to ensure continuity.
The community and builders await these changes, keen on the implications for RON’s economic dynamics and governance.