Blockchain-based gaming network Ronin has announced that it will transition from an independent gaming sidechain structure to an OP Stack-based Ethereum Layer 2 network, effective May 12th. This will end the independent sidechain operating model that has been maintained since 2021.
The planned network outage will last approximately 10 hours as part of the migration process. During this time, all network operations including transfers, swap transactions, and smart contract interactions will be suspended. Blockchain games running on the Ronin network will also temporarily disable in-game transactions that require on-chain interactions.
The Ronin team said in a statement that users should complete all necessary transfers and game transactions before the outage begins to avoid being affected by potential disruptions.
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After the transition, there will be major changes in the network economy. Ronin plans to reduce the annual inflation rate of the RON token from more than 20% to less than 1%. This move aims to strengthen the long-term sustainability of the network by curbing the expansion of token supply.
The Ronin network previously made headlines for its bridge hack worth approximately $625 million in 2022. This attack was recorded as one of the largest cross-chain bridge hacks in decentralized finance (DeFi) history.
*This is not investment advice.
