Ronin
RON
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Ronin (RON) presents a mixed profile characterized by solid engineering progress and infrastructure delivery offset by historic security vulnerabilities and market weakness. On the development side (7.5/10), the team executed a major mainnet upgrade and L2 migration in May 2026, alongside maintaining active RPCs and SDKs. Tokenomics (5.8/10) features a 1B max supply with 77% circulating, though Sky Mavis and the Ecosystem Fund control 45% of supply. Community engagement (4.0/10) maintains functional governance portals but lacks verifiable recent participation data. Market performance (5.5/10) is constrained by low liquidity and severe price drawdown from all-time highs. Governance (4.5/10) remains somewhat centralized around Sky Mavis. Security (2.5/10) reflects a severe historical record, including the March 2022 bridge breach (~$625M) and an August 2024 unaudited upgrade vulnerability (~$12M, recovered by white hats). Because both incidents occurred over 24 months prior to today's date (August 2026) and have been remediated, the mandatory red-flag cap does not apply, and the score reflects the exact weighted average across all six complete sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Ronin (RON)
Ronin (RON) is the native utility and gas token of the Ronin blockchain, an EVM-compatible gaming-focused network developed by Sky Mavis. Originally built to support the blockchain game Axie Infinity, the network hosts gaming titles including Pixels and The Machines Arena. The RON token serves primary functions in network operations, including paying gas fees, staking for network validation, and participating in token-weighted governance. In May 2026, the project executed a mainnet upgrade and Layer 2 migration.
The tokenomics of RON feature a fixed maximum supply of 1,000,000,000 tokens, with approximately 77% in circulation. Token distribution is divided among community incentives (30%), Sky Mavis (30%), rewards (25%), and the ecosystem fund (15%). Circulating supply expands through staking rewards, with potential offsets via treasury buybacks. Supply and governance centralization represent notable structural factors, as Sky Mavis and the ecosystem fund account for 45% of total token allocation, and network management has historically maintained validator-centric controls under Sky Mavis.
Ronin has experienced multiple severe security incidents and sustained market weakness. In March 2022, the Ronin bridge suffered a major security breach where attackers utilized compromised private keys and an unrevoked allowlist to steal approximately $625 million (173,600 ETH and $25.5 million in USDC). In August 2024, a second bridge exploit occurred when an unaudited upgrade with a misconfigured parameter allowed white-hat hackers to withdraw approximately $12 million in funds, which were subsequently returned. Additionally, the token has experienced severe market contraction, falling 98.70% from its all-time high alongside low liquidity.