Ronin Treasury To Buy Back $4M In RON Tokens

Ronin Network has announced that its treasury will begin buying back over $4 million worth of RON tokens from the open market starting September 29.

The move, expected to last a month, will see the treasury swap all its Ether and USDC holdings for RON in a bid to reduce circulating supply and support the ecosystem’s growth.
Currently, 693 million RON are in circulation out of a total 1 billion tokens, giving the project a market capitalization of $355.7 million.

The buyback will remove about 1.3% of the circulating supply. Ronin’s treasury is valued at around $5.5 million, with its largest holding being 896 Wrapped Ether worth $3.9 million. It also contains 652,000 USDC, 1.2 million RON and wrapped RON, plus a handful of memecoins.

The team explained that the buyback aligns tokenholders and builders as Ronin transitions into a full Layer 2 blockchain. They believe the move will further Web3 gaming adoption.

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