Ronin will execute a $4.5M RON buyback starting Sept. 29, converting treasury ETH and USDC into RON to repurchase roughly 1.3% of circulating RON; the operation supports new Cerastes tokenomics and avoids selling RON from reserves.
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Ronin begins $4.5M RON buyback Sept. 29, converting ETH and USDC into ~1.3% of circulating supply.
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Treasury swaps include ~890 ETH and 652,000 USDC, increasing RON reserves while planning no token sales.
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Cerastes upgrade burns base fees and accrues treasury revenue; combined with buybacks this creates dual deflationary pressure.
Ronin RON buyback: $4.5M repurchase from ETH/USDC reserves starting Sept. 29 — see details on timing, supply impact and treasury changes.
What is the Ronin RON buyback and how much will it repurchase?
The Ronin RON buyback is a market repurchase program that will convert the network treasury’s ETH and USDC holdings into RON beginning Sept. 29. The operation targets approximately $4.5M–$5M in purchases, representing about 1.3% of the current circulating supply (≈693 million RON).
How will Ronin execute the treasury swaps and buybacks?
Ronin plans to liquidate roughly 890 Wrapped ETH and 652,000 USDC held in treasury, using third‑party market makers to acquire RON over about one month. The treasury currently holds ~1.2 million RON and wrapped RON; no planned RON sales were announced. This reshapes reserves toward RON while keeping fee-derived assets and operational liquidity intact.
Why does the Cerastes upgrade matter for RON tokenomics?
The March Cerastes upgrade implemented EIP‑1559–style mechanics on Ronin, burning a portion of base fees and directing another portion to the treasury. This creates two deflationary levers: fee burns reduce circulating tokens, while treasury accruals fund buybacks and ecosystem activity, amplifying net supply reduction over time.
When will the repurchase start and how long will it run?
The buyback begins Sept. 29 and is scheduled to run for roughly one month. Purchases will be executed in tranches via market makers to minimize market disruption and adhere to best‑practice treasury management principles.
Frequently Asked Questions
How much of the circulating RON supply will the buyback remove?
Estimated at about 1.3% of circulating supply. With a circulating supply near 693 million RON, the $4.5M conversion equates to a modest but meaningful reduction in available tokens, especially coupled with fee burns from Cerastes.
Will Ronin sell any RON from treasury during or after the buyback?
Ronin has stated there are no planned RON sales related to this buyback. The conversion focuses on swapping ETH and USDC into RON to increase RON reserves rather than liquidating RON holdings.
How will this affect Ronin’s on‑chain metrics and ecosystem?
Dual deflationary mechanics—fee burns plus buybacks—are likely to reduce net circulating supply over time. Messari estimates Cerastes could generate up to ~3 million RON annually via treasury accruals (~0.3% of total supply). Declines in supply, paired with renewed developer activity tied to a return to Ethereum Layer‑2 integration, could support on‑chain usage if demand rises.
What historical context explains this move?
Ronin launched as an Ethereum sidechain for Axie Infinity and prioritized low fees and fast transactions. The network later suffered a $600M bridge hack in March 2022, and Total Value Locked dropped from about $1.2B to roughly $56M, according to DefiLlama. The current buyback is part of a homecoming strategy aligning Ronin with broader Ethereum Layer‑2 ecosystems.
Key Takeaways
- Buyback size: ~$4.5M–$5M, targeting ~1.3% of circulating RON.
- Treasury reshaped: ~890 WETH and 652,000 USDC to be converted into RON; no RON sales planned.
- Tokenomics: Cerastes burns fees and accrues treasury revenue, creating dual deflationary pressure.
Conclusion
The Ronin RON buyback is a measured treasury strategy to increase RON reserves and work in tandem with Cerastes fee mechanics to reduce net circulating supply. COINOTAG will monitor execution, supply impact and on‑chain metrics as the operation commences on Sept. 29 — readers should follow official Ronin announcements and on‑chain data sources for updates.
