Ronin has announced the launch of massive RON buybacks, considering the chain’s “sleeping giant” is about to awaken. This bold move aims to redefine the value of Ronin’s native token. On the 29th of September, the Ronin Treasury is set to unleash the buybacks of RON from the open market. This initiative promises to benefit the token holders, whether they are Web3 gamers, NFT collectors, or long-term supporters of the ecosystem.
Ronin Claims Its Treasury as a Silent Powerhouse
The Ronin Treasury has amassed over $4.5 million in assets silently over the last four years. This treasury includes 895 ETH and around 650,000 USDC. Ronin has leveraged trading fees on the Katana DEX to gather these ETHs and USDCs.
This treasury has revenue from Ronin market and OpenSea transactions, Ronin Name Service registration, and utilizes EIP-1559 as a portion of gas fees. Instead of all this accumulation, currently, RON and WRON are only 12% in amount that are held in wallets.
Ronin Puts Buyback Strategy to Strengthen RON’s Position
Ronin has announced that at the start of the month, it will swap 100% of its ETH and USDC reserves for RON. This swap just represents 1.3% of RON’s circulating supply at current prices. This groundbreaking buyback signals confidence and solidifies the token’s future. Ronin will execute on-chain buybacks with the help of third-party market makers. This initiative will generate additional fees for the treasury while encouraging transparency.
This strategy by Ronin marks a strong conviction rather than just a bare move. Ronin is set to unleash its homecoming to Ethereum along with a bold rebounding of Web3 gaming. Through this buyback strategy, the Ronin ecosystem will be aligned with its builders and community to execute the next wave of growth.
