Description
Ronin is an EVM blockchain purpose-built for Web3 gaming, created by Sky Mavis, the team behind Axie Infinity. Launched in 2021 to scale Axie beyond Ethereum's limitations, Ronin has grown into a multi-game ecosystem powering titles like Pixels, Wild Forest, and Lumiterra, and has processed over $4B in NFT volume. On May 12, 2026, Ronin completed its migration from a standalone sidechain to an Ethereum Layer 2 built on Optimism's OP Stack, with EigenDA for data availability and a path to ZK validity proofs via Boundless.
Value Proposition
Ronin exists to make blockchain gaming feel like gaming. General-purpose chains struggle to support the volume and speed games require (millions of in-game transactions, near-instant finality, negligible fees), and players don't tolerate friction. Ronin solves this with a gaming-first architecture: ~3-second block times, sub-cent fees, EVM compatibility for easy developer onboarding, and curated app deployment to maintain quality and uptime. The migration to an Ethereum L2 via the OP Stack extends this mission by inheriting Ethereum's security and unlocking access to Ethereum's broader DeFi and developer ecosystem, with the long-term vision of becoming Ethereum's gamification engine.
Governance
Ronin operates on a Delegated Proof of Stake (DPoS) model, transitioned from its original Proof of Authority consensus in 2023. RON token holders can run validators or delegate their stake to existing validators, who are responsible for block production and securing the network. Major network decisions, including the migration to an Ethereum Layer 2 on the OP Stack, are made through validator community votes; the L2 migration proposal was approved after the Ronin Validator community reviewed four competing infrastructure proposals. Sky Mavis remains the core development team driving protocol-level upgrades, with treasury allocations increasingly aligned toward RON holders following the May 2026 migration.
Milestones
- 2019: Sky Mavis founded by Trung Nguyen, Aleksander Larsen, and Jeffrey Zirlin
- December 2020: Ronin testnet launched
- February 2021: Ronin mainnet launched as an EVM sidechain to scale Axie Infinity
- March 2022: Ronin Bridge exploit; Sky Mavis raised $150M to fully reimburse affected users
- April 2023: Transition from Proof of Authority to Delegated Proof of Stake
- November 2023: Ronin Name Service (RNS) launched
- 2024: Major ecosystem expansion with Pixels and other game launches; over 1M peak daily active addresses
- August 2025: Sky Mavis announced plans to migrate Ronin to an Ethereum Layer 2
- September 2025: Ronin Validator community voted to adopt Optimism's OP Stack
- May 12, 2026: Ronin completed its migration to an Ethereum Layer 2 on the OP Stack, with EigenDA, Conduit, Boundless, and Flashbots as core infrastructure partners
Previous Funding
- November 2019 (Seed): $2.1M led by Animoca Brands, with participation from Hashed, Consensys, 500 Global, and Pangea Blockchain Fund
- May 2021 (Series A): $7.5M led by Libertus Capital, with participation from Collab+Currency, BlockTower, Backed, Konvoy Ventures, and Collab Fund
- October 2021 (Series B): $152M led by Andreessen Horowitz (a16z), with participation from Accel, Paradigm, Standard Crypto, Samsung NEXT, FTX, and angel investors including Mark Cuban, Alexis Ohanian, and Kevin Lin (valuing the company at ~$3B)
- April 2022: $150M led by Binance, with participation from Animoca Brands, a16z, Dialectic, Paradigm, and Accel (raised to reimburse users following the Ronin Bridge exploit)
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