In Brief
- Ronin Treasury will begin buying back RON on September 29, swapping all ETH and USDC holdings into RON.
- The Treasury holds over $4.5 million in assets from Katana DEX, Ronin Market, RNS fees, and gas revenue.
- The buyback is expected to remove about 1.3% of the circulating supply, boosting Treasury reserves and aligning token holders.
Ronin has confirmed it will begin a major RON buyback program on September 29, marking a new phase for the network’s treasury management. Over the past four years, the Ronin Treasury has quietly accumulated millions in assets, and now the team says it is ready to put those funds to work.
The Treasury currently holds more than $4.5 million in tokens, including around 890 ETH and 650,000 USDC. These assets were generated through multiple revenue streams, including fees from the Katana DEX, Ronin Market trading, registrations on the Ronin Name Service, and a share of gas fees. While the Treasury has built significant reserves, only a small portion — about 12 percent — is currently held in RON or WRON.
Starting later this month, all ETH and USDC in the Treasury will be converted into RON. At today’s prices, that swap would account for roughly 1.3 percent of RON’s total circulating supply. Transactions will be carried out on-chain with the support of external market makers, ensuring transparency while also generating additional fees for the Treasury.
The team explained that the decision comes as Ronin prepares for its “homecoming” to Ethereum, with broader Web3 adoption and institutional players paying closer attention to blockchain gaming. Many community members have long asked about promised buybacks, and this marks the first major step in fulfilling that commitment.
“These buybacks will increase the amount of RON in the Treasury and reduce the circulating supply,” the team stated. “This strengthens alignment between token holders, builders, and the wider ecosystem as Ronin continues to grow as a full-fledged L2.”
Importantly, Ronin emphasized that the program is a one-way initiative. The Treasury will only be acquiring RON and has no plans to sell or release tokens back into the market. A buyback schedule will be coordinated with the network’s governing validators.
The Ronin team also clarified that the Axie Infinity Treasury remains separate and unaffected. As of August 2025, the Axie Infinity Treasury holds approximately 23 million AXS, 2,600 ETH, 75,000 RON, and 6,500 USDC.
Once the buybacks begin, Ronin’s treasury composition will shift toward RON, a move intended to reinforce confidence in the token’s long-term value. For holders, developers, and gamers across the ecosystem, the initiative signals a renewed focus on growth as Ronin positions itself for the next chapter of Web3 gaming.
