Key Points
RON buybacks are coming: The Ronin Treasury will perform a planned acquisition of RON starting September 29th. The Treasury will swap 100% of its ETH and USDC for RON over the course of a month, working with third-party makers to execute all transactions onchain. On Ronin. More details below.
What is the Ronin Treasury: The Ronin Treasury holds over $5M USD in tokens including 890 ETH and 650K USDC. The Treasury accumulated these funds via fees from the Katana DEX, Ronin Market, and Ronin Name Service (RNS) over the past few years.
What this means: Onchain Nintendo is buying back its own tokens. This will further increase the amount of RON in the Ronin Treasury, and decrease the amount of RON in circulation. At current prices, this represents a buyback of ~1.3% of RON’s current circulating supply.
Ronin’s sleeping giant is waking up.
Over the past four years, the Ronin Treasury has accumulated millions in onchain tokens.
This silent stockpile has been growing in the shadows for too long.
We’re ready to unleash the beast.
On September 29th, the Ronin Treasury will begin buying RON from the open market.
This will benefit all RON holders from everyday Web3 gamers and NFT collectors to RON holders with conviction in our movement. Here’s what’s happening:
What is the Ronin Treasury?
The Ronin Treasury holds over $4.5M USD in tokens including 890 ETH and 650K USDC. Over the past few years, the Treasury accumulated these funds by:
Earning a 0.05% fee from every trade on the Katana DEX
Earning a 0.5% fee from total Ronin Market trading volume
Earning 30% of all Ronin Name Service (RNS) registration and renewal fees
Earning a portion of gas fees that can result in 3M RON or ~0.3% of total supply per year
However, only about 12% of the Ronin Treasury’s assets are in RON or WRON. On September, the Treasury will swap 100% of its ETH and USDC holdings for RON. At current prices, that represents ~1.3% of the current circulating supply.
Over the next month, the Ronin Treasury will work with third-party market makers to execute these buybacks onchain. On Ronin. As a result, the Ronin Treasury will also collect fees from these transactions. The aggressive timeline further indicates strong confidence that RON is undervalued and is destined for a new chapter of growth. This is the first arrow from our quiver.
Why buyback RON?
Ronin’s Homecoming to Ethereum is approaching. Wall Street is jumping into our industry. Many community members have been asking about promised RON buybacks. The time to double-down on RON is NOW.
These buybacks will increase the amount of RON in the Treasury, and decrease the amount of RON in circulation. This will further align our ecosystem, token holders, and builders as Ronin evolves into a full-fledged L2. It will also position our movement for more growth as the rest of the world comes back to Web3 gaming.
The Ronin Treasury is only buying RON. Think of it as a one-way street: It has no existing or planned RON sales or outflows. Stay tuned for more info on a buyback schedule agreed upon by Ronin’s Governing Validators.
FAQ
Question: How do the Ronin Treasury’s RON buybacks affect Ronin’s future as an L2 on Ethereum?
Answer: The Ronin Treasury’s RON buybacks won’t affect any plans for Ronin’s migration to an L2 on Ethereum. This is about onchain Nintendo buying back its own tokens.
Question: How does this affect the Axie Infinity Treasury?
Answer: These RON buybacks have no impact on the Axie Infinity Treasury. The Axie Infinity Treasury is separate from the Ronin Treasury. As of August 2025, the Axie Infinity Treasury holds about 23,000,000 AXS, 2,600 ETH. 75,000 RON. and 6,500 USDC. Check it out here.
Question: Where can I see the Ronin Treasury?
Answer: Check it out on the Ronin Block Explorer here.
Question: Why announce these buybacks now?
Answer: Once the buybacks begin, the Ronin Treasury’s holdings will start to change. Less ETH, more RON. The ecosystem team is announcing these buybacks now to ensure RONers understand the reasons behind this movement of funds.