Ronin Returns to Ethereum as TVL Remains 95% Below 2022 Bridge Hack Level

Blockchain gaming project Ronin Network said it will migrate from a standalone sidechain back to Ethereum as a Layer 2, calling the move a “homecoming." Meanwhile, the network's total value locked (TVL) remains far below the billion-dollar levels seen before its April 2022 bridge exploit.

In a blog post on Friday, Aug. 15 Sky Mavis — the team behind Ronin Network — described the migration as a path to stronger security and lower costs. The project also cited the Ethereum Foundation’s restructuring, as well as the recent surge in institutional interest in the largest altcoin. “Ethereum is winning the war for Wall Street’s attention and capital,” the blog post stated.

The announcement also outlines a major update to the tokenomics of Ronin’s native asset, RON: a Proof-of-Distribution model that will redirect staking rewards from validators to builders. The team says that the upgrade is expected to be completed in Q1-Q2 2026, presenting the change as a way to reward long-term contributors.

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