Ronin RON

Commentary versus actual token vesting

The cap has held. 1,000,000,000 RON, unchanged through four and a half years, a $625M exploit, a capital raise and a chain migration. No governance action has altered it. One voluntary deviation, in the holder-favourable direction: Sky Mavis re-locked 80,000,000 RON (8.00% of supply) in January 2025 that was already unlocked under the schedule, deferring it to January 2027. Stated as a commitment; no contract, escrow or enforcement mechanism is published, and the project describes the operation itself as "simply a movement of tokens between wallets." One definitional change, executed: the 27 January 2025 migration from Genesis Multisigs to five new multisigs re-defined circulating supply to include all unlocked tokens, adding 23.8% of supply to the reported circulating figure at a stroke and moving it from ~38.0% to 61.9%. No tokens were sold. The 61.9% target matches the whitepaper's month-36 unlocked figure of 61.94% — agreement to 0.06 percentage points.