Quick Takeaways
- Ronin is migrating from an independent sidechain to a Layer 2 on Ethereum using the OP Stack, with a scheduled 10-hour downtime on May 12.
- Post-migration, RON token inflation will drop from over 20% to below 1%, and marketplace fees will increase from 0.5% to 1.25%.
- The move enhances security by connecting directly to Ethereum, addressing previous vulnerabilities exposed during a $625M hack in 2022.
- All transactions, including transfers and NFT trades, will pause during the migration, and node operators need to upgrade to version 1.2.2 before the fork.
Ronin Ethereum migration goes live on May 12
Transition to Layer 2
Ronin, a blockchain used mainly for gaming, will switch to a new system on May 12. This change involves a hard fork at block 55,577,490, which is expected around 15:16 UTC. During this process, all transactions, such as transfers, swaps, and smart contract activities, will pause for about 10 hours. This pause allows the network to upgrade safely. Node operators must update their software before the update to avoid issues.
This move connects Ronin directly to Ethereum’s mainnet. Previously, Ronin operated as a separate sidechain with nine validators. Now, it will use the OP Stack infrastructure, which improves security and scalability. This change helps Ronin rely on Ethereum’s safety measures, reducing the risk of future attacks.
Impact on tokens and fees
The transition will also affect Ronin’s economy. The inflation rate of the RON token will decline sharply from over 20% a year to less than 1%. This change results from a new Proof of Distribution model. Additionally, marketplace fees will rise from 0.5% to 1.25%. Some 90 million RON tokens, previously set aside for staking, will now go to the network’s treasury.
Ronin will incorporate EigenDA technology to manage data availability. This system stores transaction data off-chain but keeps it verifiable on Ethereum. The upgrade aims to create a more secure and efficient network, similar to other chains like Celo and Fraxtal, within the OP Stack ecosystem.
Background and significance
This migration follows a major hacking incident. In March 2022, Ronin experienced the largest DeFi breach ever, losing $625 million in ETH and USDC. The attack showed weaknesses in the earlier validator setup, prompting this upgrade. Moving to Ethereum’s security model aims to prevent similar vulnerabilities in the future. The recent migration of Ronin’s bridge to Chainlink’s protocol was a step toward strengthening its infrastructure ahead of the full Layer 2 transition.
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