Sky Mavis, the team behind the Ronin Network, is making adjustments to $RON tokenomics to ensure greater transparency and accuracy in circulating supply calculations. Historically, the circulating supply figures displayed on platforms such as Coingecko and Coinmarketcap have not fully reflected the amount of $RON that should be in circulation based on the Ronin whitepaper. By January 27th, 2025, these figures were synchronized to align with the official unlock schedule, providing a clearer representation of $RON’s availability.

Approximately 23.8% of the total $RON supply is unlocked but remains held in Genesis Multisigs and smart contracts. However, these tokens are not yet considered part of the circulating supply. To resolve this, an operational transfer will take place, moving these tokens to designated multi-signature wallets. Once this process is complete, all unlocked tokens will be included in the circulating supply calculations.

Sky Mavis Re-Lock and $RON Circulating Supply Update

Addressing Discrepancies

Since the launch of the Ronin Network, Genesis Multisigs were established to hold tokens allocated for rewards, community incentives, Sky Mavis’ allocation, and the ecosystem fund. Tokens stored in these wallets, along with those held in smart contracts for decentralized exchange (DEX) liquidity pool rewards and staking rewards, were not factored into the circulating supply. While $RON tokens have been unlocked according to the whitepaper schedule, many remained in the Genesis Multisigs, creating a discrepancy between the circulating supply figures on tracking platforms and the expected supply outlined in the whitepaper.

To correct this, all current and future unlocked $RON tokens will be transferred from Genesis Multisigs into newly designated multi-signature wallets. Additionally, tokens in smart contracts allocated for liquidity mining and staking rewards will now be considered part of the circulating supply. These changes will result in an immediate increase of 23.8%, bringing the total circulating supply to 61.9%, aligning it with the Ronin whitepaper. Importantly, this process does not involve any token sales but is solely an adjustment to ensure accurate supply reporting.

Genesis Multisigs Current State

Sky Mavis’ Commitment to Re-Locking Tokens

As Ronin moves toward a more permissionless and open ecosystem, Sky Mavis has reaffirmed its confidence in the network by voluntarily re-locking approximately 75.0% of its unlocked token allocation. This re-locked portion accounts for 8.0% of the total $RON supply and will be placed under a structured unlock schedule, vesting quarterly over the next two years.

The remaining 25.0% of Sky Mavis’ unlocked tokens will be held in a separate multi-signature wallet, with public access to its address to maintain transparency. This decision reflects Sky Mavis’ long-term commitment to Ronin’s success and its dedication to creating an open and community-driven blockchain network.

Moving Unlocked Tokens to New Wallets

As part of the updated circulating supply definition, all unlocked tokens will be transferred to five new multi-signature wallets. This transition took place on January 27th, 2025. Under the current structure, four Genesis Multisigs hold locked and unlocked tokens for various allocations, while liquidity pool and staking rewards remain in separate smart contracts. These tokens have not been counted in the circulating supply until now.

Following the update, all unlocked tokens from the Genesis Multisigs will be moved to their respective new multi-signature wallets, which collectively account for 22.6% of the total token supply. Additionally, 1.2% of unlocked tokens held in the liquidity pool and staking rewards smart contracts will also be included in the circulating supply. This results in a total increase of 23.8% in circulating supply calculations. Moving forward, Genesis Multisigs will only hold locked tokens, and all newly unlocked tokens will be promptly transferred to their designated wallets.

Genesis Multisigs Future State

Ensuring Transparency and Future Alignment

Sky Mavis has made transparency a priority throughout this process. The wallet addresses for the newly designated multi-signature wallets have been made publicly available, allowing the community to monitor transactions and token movements. The updates to Ronin’s tokenomics do not alter the existing unlock schedule or the total maximum supply of 1 billion $RON tokens. Instead, these adjustments ensure that the reported circulating supply is in line with the official whitepaper and remains transparent for all stakeholders.

Ronin, launched in 2021, was created to advance digital property rights, with an initial focus on gaming. As the network expands, Sky Mavis remains committed to supporting its growing user base and development community. The changes introduced through Operation Leviosa represent an important step towards ensuring a more transparent and accurate tokenomics structure, reinforcing the project's long-term vision of an open and accessible ecosystem.