Ronin launches a $4.5 million RON token buyback plan

ChainCatcher news, Ronin Network today announced the official launch of the RON token buyback program.

The Ronin Treasury will use approximately 890 ETH and 650,000 USDC (totaling about 4.5 million USD) to buy back RON tokens. To reduce market volatility, the buyback will adopt a TWAP strategy, completing the process at a rate of about 100 USD per minute over the course of a month. It is expected that after the buyback is completed, the Ronin Treasury will hold approximately 9 million RON, accounting for 1.3% of the circulating supply.