Ronin to Buy Back $5M Worth of RON Tokens Using Treasury Assets
Ronin Treasury has launched a buyback program, converting 890 ETH and 650,000 USDC to acquire approximately 9 million RON tokens, representing 1.3% of the circulating supply.
ETH
USDC
RON
Summary
Ronin has initiated its RON buyback program, converting 890 ETH and 650,000 USDC into approximately 9 million RON tokens, equivalent to 1.3% of the circulating supply. The buyback will use a time-weighted average price (TWAP) to minimize market disruption and is expected to last a month.
Terms & Concepts
- RON Token: The native cryptocurrency of the Ronin blockchain, used for transactions, governance, and ecosystem participation.
- USDC: A U.S. dollar-pegged stablecoin used for trading, payments, and as a stable store of value in decentralized applications.
- Token Buyback: A process where a project repurchases its own tokens from the market to reduce supply or support token value.