Ronin will be migrated to an Ethereum Layer 2 network on May 12 and will be temporarily shut down for 10 hours.

PANews reported on May 11th that, according to CoinDesk , Ronin, the gaming public chain behind Axie Infinity , will undergo a hard fork on May 12th , migrating from an independent sidechain to the Ethereum Layer 2 network. This is expected to cause approximately 10 hours of network downtime, during which all transfers, swaps , contract interactions, and on-chain gaming activities will be suspended. This upgrade will introduce an OP Stack architecture and a " Proof of Distribution " model, rewarding builders based on their actual network contributions. It will also significantly reduce the RON inflation rate from over 20% to less than 1% , and transfer 90 million RON tokens originally used for staking rewards to the Treasury Fund. Market fees will be increased from 0.5% to 1.25% to improve security, scalability, and reshape the token economy.

Share to:

Author: PA一线

This content is for market information only and is not investment advice.

Follow PANews official accounts, navigate bull and bear markets together
PANews APP
US stocks closed mixed, with COIN falling more than 3.79%.
PANews Newsflash