Ronin Returns to Ethereum as TVL Remains 95% Below 2022 Bridge Hack Level
Blockchain gaming venture Ronin Community stated it’s going to migrate from a standalone sidechain again to Ethereum as a Layer 2, calling the transfer a “homecoming.” In the meantime, the community’s complete worth locked (TVL) stays far under the billion-dollar ranges seen earlier than its April 2022 bridge exploit.
In a weblog submit on Friday, Aug. 15 Sky Mavis — the workforce behind Ronin Community — described the migration as a path to stronger safety and decrease prices. The venture additionally cited the Ethereum Basis’s restructuring, in addition to the latest surge in institutional curiosity within the largest altcoin. “Ethereum is profitable the conflict for Wall Avenue’s consideration and capital,” the weblog submit said.
The announcement additionally outlines a serious replace to the tokenomics of Ronin’s native asset, RON: a Proof-of-Distribution mannequin that can redirect staking rewards from validators to builders. The workforce says that the improve is predicted to be accomplished in Q1-Q2 2026, presenting the change as a option to reward long-term contributors.
Declining Metrics
The workforce’s reference to rising institutional curiosity in Ethereum additionally means that new sources of capital are additionally a motivating issue for the transfer, as Ronin Community faces declining TVL, alongside on-chain exercise.
“We’re at present leveraging Ronin’s model recognition, unstoppable neighborhood, and unquestionable traction to develop our borders to Wall Avenue,” Sky Mavis stated within the submit.
Ronin TVL, 2022-2025. Supply: DefiLlama
Based on DefiLlama, Ronin’s TVL fell from roughly $1.2 billion earlier than the April 2022 bridge exploit carried out by North Korean cybercriminals, to about $64.6 million as of at present, Aug. 18, a decline of roughly 94.6%. That exploit, which resulted within the lack of greater than $600 million, has left the community working at a fraction of its pre-exploit scale.
Consumer exercise has additionally tracked the capital flight. Token Terminal data month-to-month energetic addresses at about 4.2 million in August 2024 versus 1.3 million in August 2025, a decline of roughly 69%.
Ronin transactions vs month-to-month energetic addresses. Supply: Token Terminal
On prime of that, month-to-month transaction counts additionally dropped from roughly 16 million in August 2024 to about 5-6 million in August 2025, an roughly 62.5-68.8% fall, suggesting that the migration could also be pushed extra by waning curiosity than by technical upgrades.
The Defiant contacted Sky Mavis and Ronin investor and web3 gaming big Animoca Manufacturers for remark however hasn’t obtained a response from both by press time.
After Sky Mavis outlined plans for migration, the worth of RON declined by over 5% on a weekly body and is down 4.3% at present, buying and selling at $0.545.
