Hall Effect keyboards used to be a niche reserved for keyboards costing upwards of Rs 15,000-20,000, built primarily for competitive gaming. That's changed over the last couple of years, and EvoFox's Ronin HS65 is one of the more affordable attempts to bring magnetic switch technology to a wider audience.
Priced at Rs 3,999, it packs adjustable actuation, Rapid Trigger and a gasket-mounted 65% layout into a wired keyboard aimed at gamers who want faster, more precise input without spending on a premium keyboard.
The Ronin HS65 isn't trying to be a do-it-all productivity keyboard. It's built around its Hall Effect switches and the customisation that comes with them, while still offering a compact layout that works reasonably well for everyday typing and office use.
We used it for writing, spreadsheet work, video calls and several gaming sessions to see how it holds up outside of a marketing sheet.
Design
The Ronin HS65 takes the 65% layout playbook and runs with it. A compact 66-key layout that discards the numpad and function row but retains a dedicated cluster of arrow keys, plus Delete, Page Up, Page Down, Home, and End keys stacked on the right edge. It suits people who want the compactness of a smaller board without sacrificing navigation keys entirely.
Build-wise, the keyboard uses an ABS plastic body with what EvoFox calls a gasket-mounted structure, meant to add a bit of flex and cushioning under each keystroke rather than having the plate sit rigidly against the case.
In hand, the board feels reasonably solid for its price bracket, without the hollow, clattery feel that cheaper mechanical keyboards sometimes have. At 558g and roughly 324 x 115 x 42mm, it's compact enough to fit into a bag without being a hassle, and heavy enough to stay put on a desk during normal use.
The keycaps are PBT rather than the more common ABS found on keyboards in this price range, which typically means less shine developing on frequently used keys over time. Legends are printed in yellow on black keycaps, with secondary legends underneath for media controls, Mac modifier keys, and lighting shortcuts. The keyboard supports both Windows and Mac layouts, with modifier key legends printed for both.
A metallic volume knob sits in the top right corner, doubling as a physical control that's genuinely more convenient than reaching for on-screen sliders or dedicated media keys buried under an Fn layer. The RGB lighting lights up individual keys distinctly enough that per-key customisation and effects are apparent rather than just a wash of colour bleeding from underneath.
Typing experience
For a keyboard whose main selling point is gaming performance, typing on the Ronin HS65 doesn't feel like an afterthought. The Hall Effect switches feel smooth through their travel, without the scratchiness that sometimes shows up on lower-cost mechanical switches.
Because Hall Effect switches use a magnet and a sensor rather than a physical metal contact, they don't rely on debounce delay the way traditional switches do, which shows up as consistent, predictable key registration during long typing sessions.
The dual-layer sound dampening brings the sound down from what you'd expect from a plastic-bodied board with no foam. It's not silent, and there's still a distinct mechanical clack, but it doesn't have the tinny ping that cheap boards can produce when the case is hollow.
Over a few hours of writing, the sound stayed on the pleasant side of "audible" rather than becoming a distraction on calls.
The keyboard's gaming-first design shows up in typing at the actuation point. Out of the box, the default actuation feels close to a standard mechanical switch, and the keyboard is comfortable enough for regular typing at that setting.
It's only when you start adjusting actuation and bring it down that mistyping starts creeping in, since keys register with the lightest touches.
For day-to-day writing, we found leaving actuation closer to the middle of that range worked better than chasing the lowest possible setting.
Gaming and Hall Effect features
This is where the Ronin HS65 is meant to earn its keep. Hall Effect switches read the exact position of a magnet as the key is pressed, rather than simply registering an on/off contact, which is what makes features like adjustable actuation and Rapid Trigger possible.
EvoFox states an actuation accuracy of 0.005mm, which in practice means the keyboard can pick up extremely small movements and lets you set exactly how far a key needs to travel before it counts as a press.
In fast-paced games, lowering the actuation point makes a genuine, noticeable difference. Strafing and rapid taps in shooters feel quicker to register than on a standard mechanical keyboard at rest, since the key doesn't need to travel as far before the input reaches the game.
Rapid Trigger takes this further by having the key reset the moment you start releasing it, rather than waiting for it to return fully to its resting position, so back-to-back taps on the same key (which is useful for counter-strafing or rapid movement corrections) feel noticeably snappier once you've spent some time adjusting to it.
The keyboard's advertised polling rate range, from 125Hz up to 8000Hz, gives some headroom for players chasing lower input latency, though most players won't consciously feel the difference between the higher polling rates outside competitive, frame-perfect scenarios.
What's more tangible is the 16K key scanning rate paired with full anti-ghosting across all keys, which meant multiple simultaneous key presses, including diagonal movement plus an ability key plus a mouse click equivalent combo, registered accurately during testing without dropped inputs.
Snap Tap and Dynamic Keystroke, both software-configurable features tied to the magnetic switches, extend what the keyboard can do beyond simple actuation adjustment. Snap Tap prioritises whichever of two opposing movement keys was pressed most recently, useful for quick direction changes in movement-heavy games.
Dynamic Keystroke lets a single key perform different actions depending on how far or how quickly it's pressed. These features take setup time before they feel natural, and they're unlikely to matter much for anyone not playing competitively, but they are functional rather than just marketing bullet points.
Software and connectivity
EvoFox uses web-based software for the Ronin HS65 rather than a dedicated desktop app. This keeps things lightweight and avoids installing another background app, though it does mean you need an internet connection and a browser open to make changes.
Through it, you can remap keys, program macros, adjust actuation and Rapid Trigger settings per key, set up RGB effects, and save multiple profiles, which are then stored in the keyboard's on-board memory so settings carry over even on a system without the software installed.
The RGB lighting itself, with 18 effects on offer, is serviceable rather than a major draw. It looks good enough in low light and is customisable through the same software, but for most people it will end up set once and largely ignored during actual use, gaming or otherwise.
The Ronin HS65 connects over a wired USB interface using a 1.8m braided cable, with a small cable organiser included for routing it around a monitor stand or desk clutter. It doesn't offer wireless connectivity, so this isn't a keyboard for anyone specifically looking to cut cables, but the braided cable itself is a small, appreciated touch.
The keyboard supports Windows, macOS and Linux, with Fn shortcuts to switch between Windows and Mac key mapping, which is a helpful inclusion if you regularly move between operating systems or share the keyboard across machines.
Verdict
The web-based software, plastic build and lack of a numpad for Rs 3,999 are trade-offs worth making, but it’s good to know before you buy. The aggressive actuation settings also need some tuning to prevent accidental presses during normal typing.
Overall, the Ronin HS65 brings real Hall Effect features like adjustable actuation, Rapid Trigger, Snap Tap and Dynamic Keystroke to a price point where they're rarely found, backed by solid typing feel and useful gaming customisation.
This keyboard suits gamers who want to experiment with magnetic switches without paying premium prices.
Cambria is launching $RSGP, its native token. Eligible players and ecosystem participants can claim a share through the Loot Drop.
Your Ronin assets can make you eligible. Holding selected assets across the Ronin ecosystem can unlock Loot Drop allocations, making this one of the easiest ways for the Ronin community to participate.
Claim your allocation before the deadline. Connect your wallet, verify your eligibility, and claim your Loot Drop through Cambria’s official portal.
Cambria’s $RSGP Loot Drop is live, giving players, collectors, and ecosystem supporters the chance to secure a share of the upcoming token distribution.
One of the easiest ways to qualify is through the Ronin ecosystem.
If you’ve been collecting NFTs, playing games, or supporting builders on Ronin, you may already be eligible for a Loot Drop allocation. Cambria has included a wide range of Ronin assets as part of its eligibility criteria, rewarding community members who have helped grow the ecosystem.
For the Ronin community, eligibility is based on a combination of ecosystem participation and asset ownership. Specifically, this includes:
Axie Score
RON staking
Mystic Axies
Pixels Lands
Fableborne Kingdoms
Mokis
Fishing Frenzy Passes
Whether you’re an Axie collector, an active Ronin gamer, or a long-term ecosystem supporter, it’s worth checking your wallet to see if you’re eligible for a share of the $RSGP Loot Drop.
Claiming your Loot Drop only takes a few minutes:
Visit Cambria’s Portal.
Sign in using your Ronin Wallet.
Open the Airdrop page from the top left corner.
Check your eligibility and Loot Drop allocation.
Claim your $RSGP before the claim window closes.
If your wallet holds eligible Ronin assets, your Loot Drop allocation will appear automatically, ready to claim.
The Cambria team is rewarding the communities that helped shape the ecosystem, and Ronin users are part of that story.
If you’ve been active on Ronin, take a moment to connect your wallet and see if you’re eligible. Your next adventure in Cambria could start with a $RSGP Loot Drop waiting to be claimed.
WSJ: Ronin Ventures Corp. Announces Conditional Acceptance By The Tsx-V Of Previously Announced Qualifying Transaction With 1301756 B.C. Ltd. (Dba) Ocal Financial And Transaction Update
Hollywood director Carl Rinsch has been sentenced to two and a half years in prison for defrauding Netflix out of $11 million, which he spent on crypto, stocks and luxury goods.
A Manhattan federal court on Monday sentenced Rinsch, known for directing the 2013 film “47 Ronin,” starring Keanu Reeves, to 30 months in prison after he was convicted in December on charges including fraud and money laundering.
“Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating,” Manhattan US Attorney Jay Clayton said in a statement Monday.
“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” Clayton added. “Today’s sentence sends a deterrent message: fraud will not be tolerated.”
Rinsch’s sentence was far below the maximum possible prison time of 90 years he was facing for his seven total charges, to which he pleaded not guilty. His defense also argued that he suffered from mental health issues.
The sentence brings to a close a 15-month saga after Rinsch was arrested in March 2025 for defrauding what prosecutors referred to in court documents as “Streaming Company-1,” which multiple reports have identified as Netflix.
Source: US Attorney SDNY
Rinsch makes $27 million on Dogecoin betAccording to a March 2025 indictment and a November 2023 New York Times report on a confidential arbitration proceeding between Netflix and Rinsch, the company initially gave Rinsch $44 million for his sci-fi show “White Horse,” later renamed “Conquest,” but he asked for more funds to finish the show, prompting Netflix to wire an additional $11 million in March 2020.
Rinsch used $10.5 million from the fresh funding to gamble on the stock market and quickly lost about half of it in a few weeks by trading options on pharmaceutical companies and the S&P 500.
Rinsch transferred more than $4 million in remaining funds to crypto exchange Kraken and went all in on the memecoin Dogecoin (DOGE), a bet that ultimately generated around $27 million when he liquidated in May 2021, according to an account statement seen by The Times.
Carl Rinsch giving an interview in 2013 for his feature directorial debut film 47 Ronin. Source: YouTube
With the DOGE winnings, Rinsch then spent about $10 million on personal expenses and luxury goods, including $1.8 million on credit card bills, $1 million on lawyers to sue Netflix, $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, and $652,000 on watches and clothes, according to the indictment.
Rinsch never finished the show or returned the funds Netflix provided to complete it.
Prosecutors asked for five yearsRinsch was convicted of one count each of wire fraud and money laundering, each carrying a maximum sentence of 20 years in prison, along with five counts of making monetary transactions in property derived from unlawful activity, each carrying a maximum of 10 years.
Prosecutors asked the court in a mid-June sentencing memo to give Rinsch five years in prison after he argued for a sentence without prison time.
Rinsch’s defense said he suffered from mental health issues, with friends and family members writing to the court to say that his behavior changed around the time of the offenses. Keanu Reeves also wrote to the court in support of Rinsch.
In addition to his two-and-a-half-year prison term, Rinsch was sentenced to three years of supervised release, $11 million in forfeiture and $700 in mandatory special assessments.
Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
A Manhattan federal judge sentenced Carl Erik Rinsch to 30 months in prison in an $11 million fraud case tied to an unfinished Netflix science-fiction series.
Summary
Rinsch got 30 months after prosecutors said Netflix production funds fueled crypto and luxury spending. His Dogecoin trade reportedly turned about $4 million into $27 million before the case widened. Prosecutors sought five years, but the court imposed prison, supervised release, forfeiture and mandatory assessments. According to the U.S. Attorney’s Office for the Southern District of New York, Rinsch was also sentenced to three years of supervised release, $11 million in forfeiture and $700 in mandatory special assessments.
Rinsch, known for directing the 2013 film “47 Ronin,” was convicted in December 2025 after a one-week trial. The case centered on funds he received to complete a streaming series called “White Horse,” which was later renamed “Conquest,” according to federal prosecutors and court records.
U.S. Attorney Jay Clayton said Rinsch sought $11 million from a subscription streaming service by falsely claiming the money would be used to finance the television show he was creating.
“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” said Clayton.
Production money moved into trading Federal prosecutors said the streaming company had already paid Rinsch about $44 million between 2018 and 2019 before sending another $11 million in March 2020. The added funds were meant to complete the show, but prosecutors said Rinsch moved the money through several accounts and into a personal brokerage account.
According to the original indictment, Rinsch used the funds to trade stock options and lost more than half of the $11 million in less than two months. Prosecutors said he placed trades tied to pharmaceutical companies and the S&P 500 before moving remaining funds into cryptocurrency.
The government said Rinsch later used the money for personal expenses and luxury goods. The spending included credit card bills, legal fees, furniture, antiques, mattresses, watches, clothes, five Rolls-Royces and a Ferrari, according to the case filings.
Dogecoin profit did not end the case As previously reported by crypto.news, Rinsch was arrested in March 2025 after prosecutors accused him of using Netflix production funds for crypto and stock bets. The case named the company as “Streaming Company-1,” but several reports identified it as Netflix.
Previously, crypto.news reported that Rinsch allegedly turned about $4 million in Dogecoin into roughly $27 million. Prosecutors said the crypto gains did not change the source of the funds, which had been provided for production work.
The Dogecoin trade became one of the most watched parts of the case. However, the court focused on whether Rinsch obtained the extra production money through false claims and used it outside the agreed purpose. Rinsch never finished the show or returned the added funds.
Prosecutors sought five years Rinsch was convicted of one count of wire fraud, one count of money laundering and five counts of engaging in monetary transactions in property derived from unlawful activity. Wire fraud and money laundering each carried a maximum sentence of 20 years in prison, while the five other counts each carried a maximum of 10 years.
Prosecutors asked the court to sentence Rinsch to five years in prison, according to sentencing filings. His defense sought a sentence without prison time and argued that he had mental health issues, with friends and family writing to the court about changes in his behavior.
Actor Keanu Reeves, who starred in “47 Ronin,” also wrote to the court in support of Rinsch, according to AP News. The court imposed a prison sentence below the five years requested by prosecutors, but still ordered prison time, forfeiture and supervised release.
The sentence closed a case that began with Rinsch’s March 2025 arrest and continued through his December 2025 conviction. The U.S. Attorney’s Office also announced the sentencing in a post on X, saying the director had been sentenced for an $11 million production fraud.
Director sentenced for production fraud: “Carl Erik Rinsch promised to make a television show,” said U.S. Attorney Jay Clayton. “Instead, he used $11 million meant for production as his personal casino and luxury fund.”https://t.co/5XHj1gWFyi
Hollywood director Carl Rinsch has been sentenced to two and a half years in prison for defrauding Netflix out of $11 million, which he spent on crypto, stocks and luxury goods.
A Manhattan federal court on Monday sentenced Rinsch, known for directing the 2013 film “47 Ronin,” starring Keanu Reeves, to 30 months in prison after he was convicted in December on charges including fraud and money laundering.
“Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating,” Manhattan US Attorney Jay Clayton said in a statement Monday.
“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” Clayton added. “Today’s sentence sends a deterrent message: fraud will not be tolerated.”
Rinsch’s sentence was far below the maximum possible prison time of 90 years he was facing for his seven total charges, to which he pleaded not guilty. His defense also argued that he suffered from mental health issues.
The sentence brings to a close a 15-month saga after Rinsch was arrested in March 2025 for defrauding what prosecutors referred to in court documents as “Streaming Company-1,” which multiple reports have identified as Netflix.
Source: US Attorney SDNY
Rinsch makes $27 million on Dogecoin betAccording to a March 2025 indictment and a November 2023 New York Times report on a confidential arbitration proceeding between Netflix and Rinsch, the company initially gave Rinsch $44 million for his sci-fi show “White Horse,” later renamed “Conquest,” but he asked for more funds to finish the show, prompting Netflix to wire an additional $11 million in March 2020.
Rinsch used $10.5 million from the fresh funding to gamble on the stock market and quickly lost about half of it in a few weeks by trading options on pharmaceutical companies and the S&P 500.
Rinsch transferred more than $4 million in remaining funds to crypto exchange Kraken and went all in on the memecoin Dogecoin (DOGE), a bet that ultimately generated around $27 million when he liquidated in May 2021, according to an account statement seen by The Times.
Carl Rinsch giving an interview in 2013 for his feature directorial debut film 47 Ronin. Source: YouTube
With the DOGE winnings, Rinsch then spent about $10 million on personal expenses and luxury goods, including $1.8 million on credit card bills, $1 million on lawyers to sue Netflix, $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, and $652,000 on watches and clothes, according to the indictment.
Rinsch never finished the show or returned the funds Netflix provided to complete it.
Prosecutors asked for five yearsRinsch was convicted of one count each of wire fraud and money laundering, each carrying a maximum sentence of 20 years in prison, along with five counts of making monetary transactions in property derived from unlawful activity, each carrying a maximum of 10 years.
Prosecutors asked the court in a mid-June sentencing memo to give Rinsch five years in prison after he argued for a sentence without prison time.
Rinsch’s defense said he suffered from mental health issues, with friends and family members writing to the court to say that his behavior changed around the time of the offenses. Keanu Reeves also wrote to the court in support of Rinsch.
In addition to his two-and-a-half-year prison term, Rinsch was sentenced to three years of supervised release, $11 million in forfeiture and $700 in mandatory special assessments.
Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express
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In brief Director Carl Rinsch was sentenced Monday to 30 months in prison for defrauding Netflix of $11 million meant to finish a sci-fi series he never delivered. Rinsch lost millions on stock options, then turned the remaining $4 million into nearly $27 million on a Dogecoin bet, prosecutors said. He spent the windfall on Rolls-Royces, a Ferrari, and a $388,000 watch, and must now repay Netflix $11 million in restitution. A Hollywood director who took $11 million from Netflix to finish a TV show, then gambled it on crypto, is heading to prison.
Carl Erik Rinsch, who directed Keanu Reeves in the 2013 film "47 Ronin," was sentenced on Monday to 30 months for defrauding Netflix, capping a saga of failed trades and lavish spending. U.S. District Judge Jed Rakoff also ordered three years of supervised release and $11 million in restitution.
Director sentenced for production fraud: “Carl Erik Rinsch promised to make a television show,” said U.S. Attorney Jay Clayton. “Instead, he used $11 million meant for production as his personal casino and luxury fund.”https://t.co/5XHj1gWFyi
— US Attorney SDNY (@SDNYnews) June 29, 2026
Netflix had paid Rinsch's production company more than $44 million to make a sci-fi series called "White Horse," later retitled "Conquest." In 2020, as the COVID pandemic hit, he asked for another $11 million to finish it. Instead, prosecutors said, he moved most of the money into a personal brokerage account and never delivered the show.
Rinsch lost $5.9 million within weeks on speculative options, including pandemic-era bets on a COVID drugmaker and a market crash, according to court filings. He then moved more than $4 million of what was left onto crypto exchange Kraken and bought Dogecoin.
His bet paid off spectacularly: as the meme coin soared, he cashed out nearly $27 million in May 2021, according to a 2023 New York Times report. "Thank you and god bless crypto," he wrote to a Kraken representative.
That windfall funded a spending spree. Rinsch bought five Rolls-Royces and a Ferrari, a $388,000 Vacheron Constantin watch, and millions more in furniture, antiques, and designer clothing, some $8.7 million in all, according to a forensic accountant hired by his ex-wife. Rather than return the money, he sued Netflix for more than $14 million he claimed he was owed; an arbitrator ruled against him.
A Manhattan jury convicted Rinsch in December on charges including wire fraud and money laundering. He faced up to 90 years, and prosecutors sought five, but Rakoff imposed a lighter term after the defense presented evidence of an untreated mental health condition, with family, friends, and former colleagues describing a marked change in his behavior beginning around 2019. Reeves, who also produced the doomed series, urged leniency in a letter to the court.
The judge was unmoved on the core conduct. "Improper medication" may have “played a role,” Rakoff said, but Rinsch "was determined to lie to get substantial monies from Netflix." U.S. Attorney Jay Clayton, the former SEC chair, said Rinsch "made risky bets on highly speculative stock options and cryptocurrency," and that the sentence "sends a deterrent message.”
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Director Carl Rinsch was sentenced Monday to 30 months in prison for defrauding Netflix of $11 million meant to finish a sci-fi series he never delivered. Rinsch lost millions on stock options, then turned the remaining $4 million into nearly $27 million on a Dogecoin bet, prosecutors said. He spent the windfall on Rolls-Royces, a Ferrari, and a $388,000 watch, and must now repay Netflix $11 million in restitution. A Hollywood director who took $11 million from Netflix to finish a TV show, then gambled it on crypto, is heading to prison.
Carl Erik Rinsch, who directed Keanu Reeves in the 2013 film "47 Ronin," was sentenced on Monday to 30 months for defrauding Netflix, capping a saga of failed trades and lavish spending. U.S. District Judge Jed Rakoff also ordered three years of supervised release and $11 million in restitution.
Director sentenced for production fraud: “Carl Erik Rinsch promised to make a television show,” said U.S. Attorney Jay Clayton. “Instead, he used $11 million meant for production as his personal casino and luxury fund.”https://t.co/5XHj1gWFyi
— US Attorney SDNY (@SDNYnews) June 29, 2026
Netflix had paid Rinsch's production company more than $44 million to make a sci-fi series called "White Horse," later retitled "Conquest." In 2020, as the COVID pandemic hit, he asked for another $11 million to finish it. Instead, prosecutors said, he moved most of the money into a personal brokerage account and never delivered the show.
Rinsch lost $5.9 million within weeks on speculative options, including pandemic-era bets on a COVID drugmaker and a market crash, according to court filings. He then moved more than $4 million of what was left onto crypto exchange Kraken and bought Dogecoin.
His bet paid off spectacularly: as the meme coin soared, he cashed out nearly $27 million in May 2021, according to a 2023 New York Times report. "Thank you and god bless crypto," he wrote to a Kraken representative.
That windfall funded a spending spree. Rinsch bought five Rolls-Royces and a Ferrari, a $388,000 Vacheron Constantin watch, and millions more in furniture, antiques, and designer clothing, some $8.7 million in all, according to a forensic accountant hired by his ex-wife. Rather than return the money, he sued Netflix for more than $14 million he claimed he was owed; an arbitrator ruled against him.
A Manhattan jury convicted Rinsch in December on charges including wire fraud and money laundering. He faced up to 90 years, and prosecutors sought five, but Rakoff imposed a lighter term after the defense presented evidence of an untreated mental health condition, with family, friends, and former colleagues describing a marked change in his behavior beginning around 2019. Reeves, who also produced the doomed series, urged leniency in a letter to the court.
The judge was unmoved on the core conduct. "Improper medication" may have “played a role,” Rakoff said, but Rinsch "was determined to lie to get substantial monies from Netflix." U.S. Attorney Jay Clayton, the former SEC chair, said Rinsch "made risky bets on highly speculative stock options and cryptocurrency," and that the sentence "sends a deterrent message.”
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
The most misleading phrase in crypto security may also be the most familiar one.
A smart contract can execute exactly as written and still become part of a theft. If you wonder how, have you considered that the code may never be the part that breaks?
We blame smart contracts (the code), but the real vulnerability is the humans running the project. Attackers aren’t finding brilliant math flaws; they are tricking a founder into clicking a bad link, stealing their computer’s access keys, and altering the app from the inside. Yet once funds move on-chain, these failures often get flattened into the same headline category. Yep, you guessed it right – A DeFi hack!
That is the diagnosis problem.
A smart-contract bug, a bridge-signature compromise, an oracle failure, a governance abuse path and a stolen private key do not describe the same wound. Once the failure is misnamed, the fix starts in the wrong place.
Ethereal Ventures recently framed this as a control-plane problem – The security of the systems around the protocol, not only the protocol logic itself. AMBCrypto takes that argument in a narrower direction. In fact, before the industry debates the fix, it needs to name the failure correctly.
Of course, the data makes the mislabeling harder to ignore. For example, Halborn found that in 2024, off-chain incidents made up 56.5% of attacks and 80.5% of stolen funds.
Source: Halborn’s 2025 review of the top 100 DeFi hacks Chainalysis also found that private-key compromises accounted for the largest share of stolen cryptos in 2024.
So, the uncomfortable question is simple: Is “better code” enough when the attacker’s best path is stealing the key that tells the code what to do?
If most losses are coming from off-chain weaknesses, why does the industry keep calling every major incident a DeFi hack?
A headline is not a diagnosis “DeFi hack” works as a headline because it is short. It fails as a diagnosis because it hides the thing that actually broke.
Ritesh Kakkad, Co-founder of XDC Network, put it bluntly when he said,
The term DeFi hack has done a lot of damage. Not because it’s wrong, but because every time something breaks we use it as a full stop instead of a starting point. Ronin, Nomad, both got filed under the same label but they were trust architecture failures, nothing to do with contract quality.
That distinction matters.
So, what actually broke? A stolen private key, a bridge-validator failure, a poisoned interface and broken protocol logic may all end with funds moving on-chain. But they begin in different places.
This brings us to where the knowledge of the application plane and control plane helps.
Source: AWS Documentation / Application vs Control Plane The application plane is what users touch and includes swaps, lending markets, vaults, transfers and bridge activity. The control plane is what gives the system authority to act: admin keys, signers, upgrade paths, bridge validators, oracles and governance permissions. Then, there is the human and operational layer around it: devices, GitHub access, CI/CD pipelines, cloud accounts, contractor permissions and incident response.
And yet, most public narratives collapse these layers into one word – Hack.
Imagine opening a DeFi app and approving what appears to be a routine transaction. The page looks familiar. The wallet prompt seems normal. The blockchain later records a valid approval. But what if the screen was altered before the signer ever saw it? What if the failure sat in the app interface, the access credentials, or the workflow around the signing process?
How does crypto security compare to traditional tech companies? Traditional enterprise systems usually separate these failures because each one triggers a different response. Crypto often loses that precision once the stolen funds land on a block explorer.
Operational layer Enterprise tech norm Common Web3 weakness Access control Limits who can log in, from which device, and with what approval. Admin duties are conducted on personal laptops, with core team members often coordinating multi-million dollar actions over standard Telegram or Discord chats. Control plane Layered approval systems and audit trails Multisig can still leave too much power with a small group of people and keys. CI/CD Separates testing, approval, and release, so bad updates are harder to push live. Compromised credentials can alter what users or signers see Failure mode changes from case to case The post-mortems (or evidence) tell a more complicated story than the headlines. Most crypto post-mortems begin too late. They ask, “How much was stolen?” before asking, “What actually failed?”
Look at Ronin, for instance, remembered as one of crypto’s defining bridge hacks. In March 2022, attackers drained 173,600 ETH and 25.5 million USDC from the Ronin Bridge. However, the mechanics matter here.
Ronin’s bridge needed 5-of-9 validator signatures to approve withdrawals. The attacker did not need to find a conventional smart-contract bug to get there. Four Sky Mavis validator keys were compromised. The fifth approval came through an old Axie DAO permission path linked to Ronin’s gas-free RPC setup, which had not been properly revoked.
Once those five approvals were in place, the bridge treated the withdrawals as valid.
That is the part the “bridge hack” label tends to flatten. The weak point was not simply the bridge as a product, or DeFi as a category. It was the authority structure around the bridge: who could approve movement, how those approvals were protected, and why an old access path was still capable of mattering.
It’s the same story elsewhere Ronin was not an exception. Orbit Chain, WazirX and Bybit all point to the same pattern from different angles. Even the wrench attack incidents in France belong in the broader diagnostic conversation. They were not DeFi failures, but they showed the same uncomfortable truth: attackers follow control, whether that control sits in code, a multisig, a browser interface, or a person.
Where is the money going? The broader data complicates the usual story too.
Immunefi recorded $1.635 billion in crypto losses across 40 incidents in Q1 2025. They tagged it the worst quarter for hacks in crypto’s history. But the split matters.
Source: Immunefi Crypto Losses Q1 2025 Report Most of that figure came from two CEXs. And together, those incidents accounted for roughly 94% of the quarter’s losses.
That does not mean DeFi risk disappeared. But by value, the quarter was dominated by CeFi and signing-related failures, not a wave of protocol-math breaks.
Chainalysis’ report on theft highlighted something similar too.
Source: Chainalysis / Cryptocurrency hack volumes over time It also found that personal wallet compromises became a larger part of the loss picture, rising from 7.3% of stolen value in 2022 to 44% in 2024. 158,000 individual wallet-compromise incidents affected 80,000 unique victims in 2025, even as DeFi hack losses stayed suppressed despite higher TVL.
Read together, the data does not let either side win an easy argument.
On-chain code still fails. Off-chain systems clearly fail too. The more useful pattern is that large losses increasingly expose the machinery around the code: validators, signers, interfaces, wallet infrastructure, cloud systems, personal devices and human access. But the bigger danger begins after the first failure.
Why does one small mistake crash the whole system? In DeFi, a broken assumption rarely stays where it starts. A bridge asset can become collateral. Collateral can support loans. Loans can feed vaults. Vaults can sit inside aggregators. By the time users see the headline, the risk may have already passed through several layers. That is where misdiagnosis becomes more than sloppy language.
For your context, in TradFi, if a bank fails, regulators might freeze assets while they figure out what happened. In DeFi, code executes automatically.
Once systems are connected, naming the wrong failure can distort how the market understands every exposure built on top of it.
Domino effect of interconnected risk Composability is usually treated as DeFi’s great advantage. Protocols seamlessly plug into one another, assets migrate across chains, tokens double as collateral, and liquidity is recycled endlessly across markets.
However, this frictionless design is a double-edged sword because the very architecture that accelerates growth also accelerates failure.
When a cross-chain bridge issues an asset, that asset rarely stays put. It travels. It enters lending markets, sits inside yield vaults, gets routed through aggregators, or serves as collateral for entirely separate positions.
If the bridge’s security model breaks, the damage cannot be contained to the bridge contract itself. Every downstream protocol that treated that bridged asset as a safe, pristine store of value suddenly inherits the rot.
This is where the “Money Lego” metaphor starts to look too clean.
Source: Mapping Microscopic and Systemic Risks in TradFi and DeFi XChainWatcher makes the bridge version of this problem clearer. The study found that bridge vulnerabilities have caused $3.2 billion in losses since May 2021, while also flagging failures that normal “DeFi hack” coverage can miss.
Source: XChainWatcher / Ronin attack discovered days after malicious withdrawals So, the first failure may begin as a bridge assumption, a signer, an oracle, or a governance path. The second-order failure is “trust” moving downstream. Toxins move through the financial plumbing long before the market even realizes a breach has occurred.
Better question is which layer failed Did the code behave incorrectly? Was the protocol fed bad data? Did a bridge validator or multisig signer lose authority? Was a frontend or CI/CD pipeline compromised before users even saw the transaction? Did governance change the rules? Or was the person with access targeted directly?
Those questions lead to different answers.
Better audits matter, yes. They can reduce code-level risk. But they cannot solve stolen keys, compromised signers, weak bridge controls, exposed cloud credentials, and poor operational security. And, they definitely can’t stop people being targeted because they control access to crypto wealth.
That is the point of being precise. If the industry keeps mislabeling the failure, it will keep fighting the wrong battle.
“DeFi hack” may remain useful as a headline shortcut. As a diagnosis though, it is often too blunt to be true. Maybe the better question is where the failure actually began.
Final Summary DeFi protocols plug into one another seamlessly; a security breach at one foundational layer causes immediate downstream damage. An overwhelming majority of stolen funds are actually lost to off-chain operational failures, compromised signing keys, and human vulnerabilities.
In brief The Ronin blockchain will migrate to Ethereum layer-2 on May 12 after four years as a sidechain. RON token inflation will drop dramatically from over 20% to less than 1%. Ronin’s token is down nearly 98% from peak, reflecting flagging momentum across the crypto gaming industry. Ronin, the gaming-focused blockchain that powers games like Axie Infinity and Pixels, will migrate to become a true Ethereum layer-2 scaling network on May 12, marking a fundamental shift after four years operating as an Ethereum sidechain.
The migration will trigger at block 55,577,490, transitioning Ronin to the OP Stack, Ethereum layer-2 infrastructure that powers millions of transactions daily across other scaling networks. Users should prepare for approximately 10 hours of mainnet downtime between 11 a.m. and 9 p.m. ET during the transition, Ronin developers said, with games potentially unavailable during that span.
The economic restructuring is sweeping. RON token inflation will plummet from over 20% to less than 1%, while marketplace fees flowing to the Treasury jump 2.5x from 0.5% to 1.25%. Additionally, 90 million RON tokens previously allocated for staking will be redirected to the Ronin treasury.
A new "proof of distribution" system launching with the migration will automate RON rewards for developers, replacing manual allocation processes as the network reestablishes itself within Ethereum's ecosystem.
The timing reflects mounting pressure on standalone gaming chains to leverage established infrastructure rather than maintain costly independent networks. Ronin processed billions of dollars worth of NFT trading volume during Axie Infinity's 2021-2022 peak, but sustaining that infrastructure has proven challenging as the crypto gaming market declined.
Ronin launched in 2021 specifically to handle Axie Infinity's transaction demands when Ethereum's mainnet fees made gaming economically unfeasible. The sidechain solution enabled the play-to-earn phenomenon that attracted millions of daily users and generated unprecedented trading volumes for blockchain gaming.
Now, Ronin developer Sky Mavis says that advances in layer-2 technology offer the same benefits—low costs and high throughput—while inheriting Ethereum's security guarantees.
While the RON token is up about 11% over the last week to a recent price of $0.097, it’s had a brutal fall over the last couple of years as crypto gaming momentum largely disappeared. RON has fallen by nearly 81% in the last year, per data from CoinGecko, and is now down about 98% from a peak price of $4.45 set in March 2024.
The tokens of top games on Ronin have also cratered, with Axie Infinity’s AXS token down over 99% from its November 2021 peak, and Pixels’ PIXEL token down just as much from its own March 2024 high. But that’s not an issue isolated to Ronin or its games, with other major gaming tokens like Immutable (IMX) and Gala Games (GALA) also down at least 98% from their respective peaks.
Numerous prominent crypto games shut down over the course of 2025, often with developers citing a lack of funding and player interest to continue operations. That trend has continued into 2026 with the recent closure of games like Forgotten Runiverse on Ronin and Xociety on Sui.
Industry experts told Decrypt in late 2025 that the wave of crypto game closures centered on the disappearance of venture capital funding amid flagging blockchain gaming momentum, driving many projects to either pivot their focus or shut down their games entirely. That downward swing has only persisted into this year, so far.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief The Ronin blockchain will migrate to Ethereum layer-2 on May 12 after four years as a sidechain. RON token inflation will drop dramatically from over 20% to less than 1%. Ronin’s token is down nearly 98% from peak, reflecting flagging momentum across the crypto gaming industry. Ronin, the gaming-focused blockchain that powers games like Axie Infinity and Pixels, will migrate to become a true Ethereum layer-2 scaling network on May 12, marking a fundamental shift after four years operating as an Ethereum sidechain.
The migration will trigger at block 55,577,490, transitioning Ronin to the OP Stack, Ethereum layer-2 infrastructure that powers millions of transactions daily across other scaling networks. Users should prepare for approximately 10 hours of mainnet downtime between 11 a.m. and 9 p.m. ET during the transition, Ronin developers said, with games potentially unavailable during that span.
The economic restructuring is sweeping. RON token inflation will plummet from over 20% to less than 1%, while marketplace fees flowing to the Treasury jump 2.5x from 0.5% to 1.25%. Additionally, 90 million RON tokens previously allocated for staking will be redirected to the Ronin treasury.
A new "proof of distribution" system launching with the migration will automate RON rewards for developers, replacing manual allocation processes as the network reestablishes itself within Ethereum's ecosystem.
The timing reflects mounting pressure on standalone gaming chains to leverage established infrastructure rather than maintain costly independent networks. Ronin processed billions of dollars worth of NFT trading volume during Axie Infinity's 2021-2022 peak, but sustaining that infrastructure has proven challenging as the crypto gaming market declined.
Ronin launched in 2021 specifically to handle Axie Infinity's transaction demands when Ethereum's mainnet fees made gaming economically unfeasible. The sidechain solution enabled the play-to-earn phenomenon that attracted millions of daily users and generated unprecedented trading volumes for blockchain gaming.
Now, Ronin developer Sky Mavis says that advances in layer-2 technology offer the same benefits—low costs and high throughput—while inheriting Ethereum's security guarantees.
While the RON token is up about 11% over the last week to a recent price of $0.097, it’s had a brutal fall over the last couple of years as crypto gaming momentum largely disappeared. RON has fallen by nearly 81% in the last year, per data from CoinGecko, and is now down about 98% from a peak price of $4.45 set in March 2024.
The tokens of top games on Ronin have also cratered, with Axie Infinity’s AXS token down over 99% from its November 2021 peak, and Pixels’ PIXEL token down just as much from its own March 2024 high. But that’s not an issue isolated to Ronin or its games, with other major gaming tokens like Immutable (IMX) and Gala Games (GALA) also down at least 98% from their respective peaks.
Numerous prominent crypto games shut down over the course of 2025, often with developers citing a lack of funding and player interest to continue operations. That trend has continued into 2026 with the recent closure of games like Forgotten Runiverse on Ronin and Xociety on Sui.
Industry experts told Decrypt in late 2025 that the wave of crypto game closures centered on the disappearance of venture capital funding amid flagging blockchain gaming momentum, driving many projects to either pivot their focus or shut down their games entirely. That downward swing has only persisted into this year, so far.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Ronin, the gaming-focused blockchain built by Sky Mavis to power titles like Axie Infinity, is migrating to Ethereum on May 12, the team said this week.
The move will end a four-year run as an independent sidechain and bring major upgrades to its ecosystem.
The migration will cut RON inflation from over 20% to under 1% and expand treasury inflows. Ronin also plans to roll out Proof of Distribution, a system that automatically rewards builders based on their contributions.
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Proof of Distribution will reward contributors based on a measurable impact, including gas spend, user growth, and trading activity. Meanwhile, treasury inflows will expand via staking allocations, sequencer revenue, and increased marketplace fees.
The result is a more efficient, secure, and incentive-aligned network for both builders and users, according to Ronin.
The migration requires approximately 10 hours of downtime, during which no on-chain activity will be possible, as noted by the team. Node operators must upgrade before the scheduled hardfork at block #55577490.
What made Ronin independent in the first place When Sky Mavis, the Vietnamese studio behind Axie Infinity, began developing Ronin in late 2020, Ethereum’s layer 2 options were still in their infancy.
With mainnet gas fees becoming prohibitive for the game’s growth, Sky Mavis officially launched the Ronin mainnet in February 2021 to provide the high-throughput, low-cost environment necessary to onboard millions of players.
The move fueled Axie’s massive expansion through early 2022, but independence came with a price. In March 2022, the North Korean-linked Lazarus Group exploited the Ronin bridge and drained roughly $625 million in assets, one of the largest hacks in crypto history.
The Ethereum ecosystem looks nothing like it did six years ago. Layer 2 solutions are battle-tested, data availability costs have plummeted, and the OP Stack processes millions of transactions daily across multiple chains.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Web3 gaming platforms are blockchain-powered ecosystems that provide gamers and developers with tools to play, create, and trade in-game assets. These platforms prioritize security, transparency, and true ownership of assets, thereby enabling users to retain control over their purchases and sales without relying on centralized intermediaries. This guide highlights some of the best web3 gaming platforms worth exploring in 2026.
KEY TAKEAWAYS
➤ Web3 gaming platforms are blockchain-based ecosystems that enable decentralized gameplay, true asset ownership, and player-driven economies.
➤ These platforms often include a play-to-earn (P2E) model to drive engagement by enabling players to earn and trade in-game assets.
➤ Key factors to consider while choosing a web3 gaming platform include variety in the game library, P2E mechanics, and security, among others.
5 top web3 gaming platforms
1. TikTrix
Native token
$TRIX and $WORM
Launched in
2024
TikTrix is a web3 gaming platform that combines short-form media with casual games to offer a unique, engaging, gamified experience. It is built on the Meer Chain, an Arbitrum-based layer-3 blockchain optimized to enhance scalability, reduce costs, and improve performance.
TikTrix brings along an intuitive swipe-based navigation, gamified content, and a transparent rewards system powered by its native token, $TRIX.
At the core of TikTrix’s infrastructure are Meer Nodes, which decentralize content delivery, validate transactions, and reward contributors. These nodes ensure platform scalability and reliability while enabling participants to earn rewards by staking tokens and supporting the ecosystem.
Developers also benefit from TikTrix’s APIs and SDKs, which simplify the integration of games and features, thereby expanding the platform’s content library.
TikTrix has a dual-token economy, with $TRIX for governance and platform utilities and $WORM for in-game activities.
As of late January 2025, the platform plans to enhance its governance structure, expand the Meer Node network, and introduce a marketplace for token transactions. It also aims to integrate AI-driven tools for personalized gaming experiences and host large-scale gaming tournaments.
Pros
Unique combination of short-form media and casual gaming designed for broad appeal. Built on Meer Chain, a layer-3 blockchain offering optimized performance for web3 gaming. Decentralized infrastructure with Meer Nodes enhancing data storage and reliability. Dual-token system for governance, in-game transactions, and ecosystem stability. AI integration supports advanced analytics and ensures fair gameplay. Cons
Some technical elements, like node operations, may require advanced understanding. ➤ Layer-3 blockchain architecture: Meer Chain promises to ensure faster and more efficient processing for decentralized gaming activities. This could significantly improve scalability and performance.
➤ Meer Nodes: Extend IPFS functionality for decentralized storage of assets and AI training datasets.
➤ Dual-token economy: TRIX powers governance and platform utilities, while WORM facilitates in-game purchases and rewards.
➤ AI-powered tools: Analytics, abuse prevention, and leaderboard systems to create a fair and engaging user experience.
➤ Gamified engagement: Offers challenges and rewards designed to keep players involved and incentivized.
➤ Scalable ecosystem: Built to support global expansion with multi-chain compatibility and advanced blockchain infrastructure.
2. Gala Games
Native token
$GALA
Launched in
2019
Gala Games is a web3 gaming platform that aims to revolutionize the gaming industry by giving players true ownership of in-game assets. It was founded in 2018 by Eric Schiermeyer, co-founder of Zynga, the company behind popular games like FarmVille.
Gala Games combines blockchain technology, NFTs, and player-driven economies to create a unique gaming ecosystem.
The platform hosts a diverse portfolio of titles, including the likes of Town Star, Spider Tanks, and Mirandus — each promising engaging gameplay with ample earning opportunities.
At its core lies the GALA token, used for in-game transactions, governance, and rewards. Players can earn GALA and other game-specific tokens by playing games, owning nodes, or participating in the ecosystem. Gala Games supports decentralized decision-making, with node operators having a voice in platform development.
Pros
Provides players with true ownership of in-game assets using blockchain technology and NFTs. Expanding portfolio of games with engaging gameplay. Community-driven governance through player-operated nodes. GALA token supports P2E mechanics and incentivizes ecosystem participation. Strong leadership team with gaming and blockchain expertise. Cons
High entry cost for some games due to expensive NFTs or required assets. Complexity of blockchain elements may challenge non-crypto-savvy users. ➤ Player-owned economies: Gamers retain full ownership of in-game assets represented as NFTs, which can be traded or sold across marketplaces.
➤ GALA token utility: Facilitates in-game transactions, rewards node operators, and enables governance participation.
➤ Node network: Includes Founder Nodes for governance and game-specific nodes to support decentralized gameplay and reduce reliance on traditional servers.
➤ Expanding game portfolio: Offers games like Town Star (P2E farming), Spider Tanks (PvP brawler), and Mirandus (fantasy RPG) that cater to various genres.
➤ Decentralized infrastructure: Player-operated nodes ensure platform security and scalability, with rewards distributed to incentivize participation.
➤ NFT integration: Provides gamers with rare and unique assets. This paves the way for player-driven economies and earning opportunities.
3. Immutable X
Native token
$IMX
Launched in
2021
Immutable X is another popular web3 platform that promises to revolutionize the gaming and NFT markets. It offers a high-performance layer-2 scaling solution for Ethereum and promises to effectively tackle high gas fees, slow transaction speeds, and limited scalability.
The platform leverages Zero-Knowledge Rollups (zk-rollups) to ensure instant trade confirmations and gas-free transactions while also maintaining Ethereum’s decentralization and security.
It also provides a developer-friendly infrastructure that includes REST APIs, SDKs, and NFT-enabled wallets. These features collectively ensure a smooth integration of blockchain features into games and applications. At the same time, they also reduce development complexity, making it an attractive choice for game developers.
The Immutable X Marketplace further enhances the platform by offering zero gas fees for NFT trading and a shared global order book. These features boost liquidity, simplify user engagement, and encourage interoperability across marketplaces.
Players, meanwhile, benefit from true ownership of in-game assets, with the ability to trade, sell, and use these items across supported platforms.
Pros
Zero gas fees for NFT minting and trading. Powered by ZK-Rollups for scalability and decentralization. Strong marketplace with instant trade confirmations and high-frequency transaction support. Empowers players with ownership of in-game assets. Growing ecosystem attracting gamers, developers, and collectors. Cons
Limited number of supported games compared to traditional platforms (so far). ➤ Zero gas fees: Enables minting and trading of NFTs without transaction costs, thus lowering entry barriers for users.
➤ Zk-rollups scalability: Ensures faster transactions while maintaining security and decentralization on Ethereum.
➤ User-friendly marketplace: A reliable platform for trading NFTs with instant trade confirmations and high-frequency support.
➤ Cross-game asset ownership: Players can own and utilize assets across various games within the ecosystem.
➤ Developer-friendly tools: APIs and SDKs simplify game integration and encourage ecosystem growth.
4. QORPO
Native token
$QUORPO
Launched in
2018
QORPO is a web3 gaming and e-sports platform that blends blockchain technology with AAA-quality games to create an elaborate decentralized gaming ecosystem. It offers a one-stop hub for gaming, esports, and digital asset management that serves gamers and blockchain enthusiasts alike.
QORPO simplifies web3 gaming by uniting its products under QORPO WORLD, a suite that includes a web3 wallet, an NFT marketplace, a DAO-powered governance system, and advanced gaming mechanics powered by Unreal Engine 5.
This ecosystem combines new technology with community-driven principles to deliver an immersive gaming experience.
Some of the top games and features on the platform include:
➤ Citizen Conflict: A dystopian hero shooter that combines esports-ready mechanics, cyberpunk aesthetics, and a player-driven economy.
➤ AneeMate: A fantasy RPG where players rescue and own mythical creatures as NFTs — it’s a mix of strategy, exploration, and storytelling.
➤ QORPO Marketplace: A transparent, decentralized marketplace for trading in-game assets and NFTs.
Pros
Titles like Citizen Conflict and AneeMate offer immersive gameplay powered by Unreal Engine 5. QORPO WORLD integrates games, a wallet, an NFT marketplace, and governance in one seamless platform. The platform emphasizes decentralization by granting players true ownership of in-game assets via NFTs. Integration with Ethereum, BNB Chain, Immutable X, and more ensures low-cost, scalable transactions. Competitive and spectator modes appeal to esports enthusiasts. Cons
While streamlined, onboarding to blockchain gaming may still pose challenges for beginners. Some high-value assets might limit accessibility for casual gamers. ➤ QORPO marketplace: A decentralized marketplace for secure trading of in-game items, NFTs, and digital assets.
➤ Web3 wallet: Manage cryptocurrencies, NFTs, and stake assets within the QORPO ecosystem.
➤ DAO governance: Users vote on platform development, token listings, and roadmap milestones.
➤ Advanced game development: Powered by Unreal Engine 5 and AWS for high-performance gameplay.
➤ Multi-chain support: Offers compatibility with Ethereum, BNB Chain, Immutable X, and more for seamless transactions.
5. Axie Infinity
Native token
$AXS
Launched in
2018
Axie Infinity is another popular blockchain-based gaming platform that merges play-to-earn (P2E) mechanics with engaging gameplay. Players can collect, breed, and battle creatures called Axies, each represented as a unique NFT. These Axies, along with in-game rewards like Smooth Love Potion (SLP) and governance token Axie Infinity Shards (AXS), form the backbone of the ecosystem.
The gameplay includes virtual land ownership, P2E incentives, and a decentralized economy powered by the Ethereum-based Ronin sidechain. Meanwhile, the Axie Infinity Marketplace serves as a hub for buying, selling, and trading Axies, virtual land, and other in-game items.
Initially launched as Axie Infinity Classic, the game transitioned to Axie Infinity Origins in 2022 to enhance gameplay and accessibility. Despite a fluctuating player base in 2025, Axie Infinity remains a significant force in the GameFi space.
So far, this growing ecosystem has contributed to the rise of blockchain gaming by promoting peer-to-peer engagement and empowering players with ownership and autonomy of in-game assets.
Pros
Players own in-game assets like Axies and virtual land as NFTs The Ronin sidechain reduces gas fees and enhances transaction speed for a smooth user experience. Unique and rewarding P2E dynamics. Includes virtual land, AXS governance tokens, and in-game rewards like SLP. Regular updates and the introduction of Axie Infinity Origins reflect ongoing innovation. Cons
The cost of acquiring Axies or virtual land can deter casual players. Earnings have decreased as market saturation and economic adjustments impacted profitability. ➤ NFT-based gameplay: Each Axie is an NFT that grants players true ownership and the ability to trade or sell their creatures.
➤ Smooth Love Potion (SLP): Can be earned through gameplay. You can use this token for breeding Axies or trading on exchanges.
➤ Axie Infinity Shards (AXS): A governance token enabling holders to vote on platform decisions, stake for rewards, or purchase in-game items.
➤ Virtual Land (Lunacia): Tokenized plots where players can gather resources, earn AXS, and upgrade their Axies and base.
➤ Scholarship Program: Community-driven model where players can lease Axies to new users, thereby expanding access to the game.
How to choose a web3 gaming platform Considering the abundance of web3 gaming platforms out there — some established, others new and emerging — it makes sense to carefully consider the following factors to ensure the best gaming and investment experience:
Game quality and variety: Ideally, you should look for platforms offering engaging, high-quality games with diverse genres. A platform’s ability to deliver an immersive and engaging experience often reflects its commitment to innovation and player satisfaction.
Ownership and asset utility: You also want to ensure the platform provides true ownership of in-game assets via NFTs. Consider how these assets can be used across different games or ecosystems, as this can significantly improve their value and usability.
Blockchain integration: Check the platform’s underlying blockchain technology for scalability, transaction speed, and low costs. Established blockchains like Ethereum, Solana, or Polygon often provide sound infrastructures.
User-friendliness: A good platform should offer intuitive interfaces, easy wallet integration, and straightforward onboarding to make itself accessible to new and experienced users. Community and ecosystem: Platforms with active communities and strong partnerships often have better growth potential. Look for transparency in governance and opportunities to participate in decision-making.
Security and trust: Make sure that the platform undergoes regular audits and adheres to security standards. A track record of safe transactions and transparent operations is essential. Stay safe when gaming in web3 Web3 gaming ecosystems are still in the early stages of development and can’t yet match traditional gaming platforms in quality or game variety. However, many platforms, including some covered in this article, are making significant progress, with some even working to introduce AAA titles to their libraries. That said, what sets web3 gaming apart is its play-to-earn mechanics and true ownership of in-game assets. These aspects offer a unique appeal that compensates for the current limitations in quality and variety.
Each platform on our list offers distinct features and opportunities. So, start by exploring their game libraries, P2E models, and ecosystem dynamics to find the platform that best suits your preferences. Remember to always prioritize your safety when interacting with web3 platforms and never share your crypto wallet’s private keys or click unverified links.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Purchasing in-game tokens for investment purposes is risky and you may lose money.
Frequently asked questions What makes web3 gaming platforms different from traditional gaming platforms? Web3 gaming platforms integrate blockchain technology to offer a decentralized ecosystem where players assume true ownership of in-game assets as NFTs. Unlike traditional platforms, where assets are tied to the game, web3 assets can be traded or sold independently. These platforms also feature decentralized economies that allow users to participate in governance and earn rewards through play-to-earn models.
Can beginners play web3 games? Many web3 platforms are working to simplify onboarding for new users with intuitive interfaces and guides. However, understanding blockchain basics like wallets, tokens, and NFTs is essential for using these ecosystems. Beginners should start with platforms offering free-to-play options and comprehensive tutorials.
How do I pick the best web3 gaming platform? Key factors include the platform’s game library, play-to-earn dynamics, and supported blockchain ecosystems. Check for security measures, user reviews, and token utility to ensure a reliable experience. Assess compatibility with your devices and ease of use for smooth gameplay.
Top 1 On-Chain Liquidation: ETH Bull Whale Hit With 4 Consecutive Forced Liquidations, $14.11 Million in Positions Liquidated
According to Hyperinsight monitoring, today’s largest liquidation on the Hyperliquid platform involved a high-leverage Ethereum (ETH) long whale. The address opened a long position yesterday when ETH was trading at roughly $1,661, and immediately incurred losses after entry. Triggered by ETH’s short-term dip below $1,600 in the early hours of today, the whale faced four consecutive liquidations, resulting in the forced closure of a total of 8,734 ETH positions valued at approximately $14.11 million. The address now holds less than $150,000 in remaining funds, with all positions fully cleared. Address: 0x1cb0b187c14a8c0fb36ca0dcbb775dcc7f02b408
4 minutes ago
A certain on-chain address opened long positions in BTC, ETH, and silver, and purchased $10.699 million worth of BTC and ETH spot.
According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x960…3f0fc simultaneously went long on both futures and spot positions this early morning, opening long positions of 102.55 BTC, 954.38 ETH, and 8,790 silver units, with total position value around $8.29 million. It also purchased spot BTC and ETH worth approximately $10.699 million. Its current take-profit levels are set at $63,000 for BTC and $1,650 for ETH.
4 minutes ago
A whale that reaped over $23.77 million in profits from the Basic Attention Token (BAT) ICO has reawakened after six years of dormancy, offloading 12,600 ETH in the past two days.
According to monitoring by EmberCN, a whale address that participated in the BAT ICO in 2017 and generated approximately $23.77 million in total profits has started selling ETH recently after six years of inactivity. Over the past two days, the address has sold 12,586 ETH, receiving 20.59 million USDS in exchange, at an average selling price of roughly $1,636. The whale invested 17,789 ETH in the BAT ICO in May 2017, acquiring around 113.8 million BAT. It then sold BAT gradually over approximately two and a half years at an average price of $0.245, netting about $23.77 million in profits, with some of the BAT converted into 27,586 ETH. Since then, the ETH has remained inactive for a long time until it resumed reducing its holdings recently. Currently, the address still holds around 15,000 ETH, valued at approximately $24.29 million.
4 minutes ago
Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.
Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)
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Micron's earnings report lifts SK Hynix's stock price 11%, trader 'yixie' expands their unrealized profit to $1.3 million.
According to Hyperinsight monitoring, Micron’s Q3 financial results exceeded all expectations, driving peer SK Hynix’s stock to rally nearly 11% from its recent low. On the Hyperliquid platform, SKHYNIX is currently trading at $1,821, up 6.2% in the past 24 hours. Prominent trader yixie (X: @yixie10) nearly doubled his principal during this rally; he is now holding a 2x long position of 2,289 SKHYNIX contracts at an average entry price of ~$1,239.9. Fueled by the rally, the position’s unrealized profit has expanded to $1.37 million, a 96% gain. As of press time, the trader boasts an 85% win rate in semiconductor storage stock trades since opening positions this year, with total historical profits of $6.68 million, including $4.25 million from Micron Technology trades. Address: 0xa65ce1d604fa901c13aa29f2126a57d9032e412b – HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain news.
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STRC drops to near $80, marking another new all-time low.
According to Bitget market data, Strategy’s preferred stock STRC has dropped to a low of $80.26, hitting a new all-time low since its listing. Calculated based on a $100 par value, the current discount has reached 20%.
After four years of operating as a sidechain, Ronin is to become an Ethereum L2. Gaming (Mateo/Unsplash) Summary
Ronin, the gaming-focused blockchain behind Axie Infinity, will hard fork on May 12 to migrate from an independent sidechain to an Ethereum layer 2, causing about 10 hours of network downtime.During the migration window, all Ronin transactions and onchain game actions will be paused.The transition to the OP Stack and a new Proof of Distribution model will sharply cut RON token inflation and aim to improve security, scalability and costs after the network’s history-making $625 million bridge exploit.Ronin, the gaming-centric blockchain once synonymous with the industry’s infamous $625 million exploit, is officially shedding its sidechain skin on May 12 to become an Ethereum layer 2 to improve security while maintaining throughput.
Ronin, which announced the migration in April, will execute a hard fork at block 55,577,490, a process that will result in about 10 hours of downtime for users, the network said Monday on X. According to onchain data, the migration is expected to begin on Tuesday around 15:16 UTC.
“Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” Ronin said when announcing the migration. “It worked. Axie Infinity onboarded millions of gamers to crypto, and Pixels proved that it was possible to do it again.” The time has come to plug "back into the mothership."
While operating as an independent sidechain in mid-May 2022, Ronin suffered what is still today the largest DeFI bridge exploit in history. Layer 2 protocols benefit from tighter links to the underlying blockchain than sidechains, offering benefits that include greater security.
The network's native token, RON, is currently trading at around 11 cents with a market capitalization of about $89.5 million, according to CoinDesk data. While the token remains significantly below its 2024 peak, the migration sparked a rally, with prices climbing 30% over the last 30 days as investors eye a shift in the network's supply dynamics.
“During this downtime window, all network transactions [including transfers, swaps, and smart contract interactions] will be paused,” Ronin said, adding that all games using its network will also be affected. “To avoid any inconvenience, please complete all necessary transactions/onchain game actions on the Ronin Network before the downtime begins.”
During the downtime, a "Proof of Distribution" model will be introduced to reward builders based on active network contribution rather than passive staking, Ronin said. The team noted that “this is fundamentally bullish for RON as it dramatically cuts token inflation from over 20% to below 1%.”
The company also said that transitioning to the OP Stack will allow it to inherit Ethereum’s robust security while maintaining high throughput. The move redirects 90 million RON tokens previously earmarked for staking rewards into the Ronin Treasury, while more than doubling marketplace fees to 1.25% from 0.5%.
Ronin said its narrative is dominated by its pivotal return to Ethereum, a strategic move to reset its economics, secure its bridge infrastructure, and secure its future in an upgrade intended to improve scalability and reduce costs through the use of EigenDA for data availability.
PANews reported on May 11th that, according to CoinDesk , Ronin, the gaming public chain behind Axie Infinity , will undergo a hard fork on May 12th , migrating from an independent sidechain to the Ethereum Layer 2 network. This is expected to cause approximately 10 hours of network downtime, during which all transfers, swaps , contract interactions, and on-chain gaming activities will be suspended. This upgrade will introduce an OP Stack architecture and a " Proof of Distribution " model, rewarding builders based on their actual network contributions. It will also significantly reduce the RON inflation rate from over 20% to less than 1% , and transfer 90 million RON tokens originally used for staking rewards to the Treasury Fund. Market fees will be increased from 0.5% to 1.25% to improve security, scalability, and reshape the token economy.
Ronin, the gaming-focused blockchain developed by Sky Mavis, will migrate from an independent Ethereum sidechain to an OP Stack-based Layer 2 network on May 12, a transition expected to trigger approximately 10 hours of scheduled downtime.
During the downtime window, all network transactions, including transfers, swaps, and smart contract interactions, will pause, according to an announcement.
Onchain game actions for titles running on Ronin, including Axie Infinity and Pixels, will also halt, the network announced via its official security account on Monday. Users can track the migration's start time on Ronin's block explorer.
The upgrade, executed via hard fork, moves the network away from the independent sidechain model it has operated since 2021 and to an Ethereum Layer 2 using the OP Stack, the same framework underlying Base and Optimism.
Among the most immediate structural changes is a significant tokenomics shift. The upgrade will cut RON's annual inflation rate from above 20% to below 1%, the network said.
How Ronin got here Sky Mavis, the studio behind Axie Infinity, launched Ronin in 2021 as an EVM-compatible sidechain built for fast, low-fee transactions for in-game assets and play-to-earn mechanics.
The network has processed billions of dollars in NFT volume since launch. The migration arrives four years after Ronin's most consequential security incident.
In March 2022, a bridge exploit drained roughly $625 million in ETH and USDC via compromised validators, making it one of the largest cross-chain bridge hacks in DeFi history, The Block previously reported.
The attack was attributed to North Korea's infamous Lazarus Group.
Sky Mavis subsequently raised $150 million from Binance to reimburse affected users and replace the compromised validators.
U.S. law enforcement and Chainalysis later recovered $30 million from the stolen funds, while authorities in Norway returned an additional $5.7 million in 2024.
The upgrade plays out against a difficult backdrop for blockchain gaming.
An estimated 93% of Web3 gaming and GameFi projects launched since 2020 are now effectively defunct — defined by token prices falling more than 90% from peak and near-zero daily active users — according to an April 2026 market analysis by Caladan.
Total capital deployed into the sector from 2020 through early 2026 is estimated at $12 to $15 billion, with gaming token prices down roughly 95% from 2022 highs and VC funding for blockchain gaming studios collapsing by an estimated 93% over the same period. Axie Infinity, which drove Ronin's initial growth, has reportedly seen its own daily active users fall more than 90% from its peak.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Ronin, originally launched as a gaming-focused blockchain project, is preparing to undergo a transformative upgrade set for May 12. The network will move away from its sidechain architecture and transition into an Ethereum-based Layer 2 solution. According to the company, this change will require an estimated 10-hour service interruption across the network.
Migration process and expected impactsThe Ronin team first announced the shift to Layer 2 in April. The transition will be triggered by a hard fork at block 55,577,490, which is projected to commence around 18:16 Turkish time on May 12. During this upgrade, all on-chain transfers, token swaps, and smart contract operations will be temporarily suspended. Network officials have advised players and developers to complete any necessary transactions ahead of the scheduled downtime.
“All network activity [transfers, swaps, and smart contract interactions] will be suspended during this maintenance period. All games using our network will also experience a temporary pause. We strongly recommend completing your transactions before the scheduled maintenance to avoid any disruptions,” Ronin representatives stated in a public notice.
Ronin was initially designed to serve as a fast, cost-effective infrastructure for the popular blockchain game Axie Infinity. This game onboarded millions of players into the blockchain ecosystem and quickly elevated Ronin’s status in the gaming world. However, as a standalone sidechain, Ronin was hit by a major cyberattack in mid-2022, resulting in one of the largest losses ever recorded in a DeFi bridge exploit.
Major changes in economics, security and governanceBy adopting the Layer 2 model, Ronin expects a significant boost in security, leveraging closer integration with the main Ethereum blockchain and stronger resistance to external threats. The migration to the OP Stack will enable Ronin to benefit from Ethereum’s robust security framework while maintaining throughput. The use of EigenDA is also set to enhance data availability, promoting greater scalability.
The company noted that this update will introduce fresh economic models to the network. Approximately 90 million RON tokens, previously reserved as staking rewards, will now be redirected to the treasury. Additionally, the marketplace commission rate will increase from 0.5% to 1.25%, aiming to provide the community with more sustainable revenue streams.
As part of the transition, a new “Proof of Distribution” incentive mechanism will roll out. This system will reward developers who play an active role in the network, shifting the focus from passive staking to participation-driven rewards. According to company projections, this will reduce RON’s annual inflation rate from over 20% to below 1%.
Market response and price trendsRecent data from CryptoAppsy shows RON trading near $0.11, with a market capitalization of around $89.5 million. Although this price remains below the year’s peak, the migration news has helped drive a 30% increase over the past month. Investors are watching closely as changes in supply dynamics unfold.
The migration of Ronin to an Ethereum Layer 2 solution marks a fundamental shift in economic and technical architecture. Company officials emphasize that this strategic pivot will make the network more secure, sustainable, and innovative in the coming period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ronin Network will reconnect to Ethereum on 12 May through a major infrastructure upgrade that also slashes RON token inflation from more than 20% to below 1%.
The migration marks a major shift for the gaming-focused blockchain, which originally launched in 2021 because Ethereum could not efficiently support Axie Infinity’s explosive growth.
Now, Ronin says Ethereum’s Layer 2 ecosystem has matured enough for a “homecoming.”
“The time has come to plug Ronin back into the mothership: Ethereum,” the team said in an April announcement ahead of the migration.
The upgrade will move Ronin onto Ethereum’s modern Layer 2 stack using the OP Stack.
RON inflation to fall below 1% The migration also introduces one of the network’s biggest tokenomics changes to date.
Ronin said RON inflation will drop from above 20% annually to less than 1% after the upgrade. The network described the change as a 20x reduction in new token emissions.
The project also plans to redirect new revenue streams into the Ronin treasury. Ronin increased the treasury’s marketplace fee allocation from 0.5% to 1.25%.
The team said the treasury should increasingly be held by RON holders as the ecosystem matures.
Markets react ahead of the migration Traders appeared to respond positively ahead of the upgrade.
RON rose about 4.5% over the past 24 hours, while trading volume climbed roughly 58%, according to CoinMarketCap data. The token traded near $0.115 at the time of publication.
Source: CoinMarketCap The market reaction suggests investors are closely watching the network’s lower inflation model and deeper integration with Ethereum infrastructure.
Ethereum scaling maturity changes the equation Ronin originally launched as a standalone gaming chain because Ethereum transaction costs and throughput limitations made large-scale blockchain gaming difficult.
At the time, Ethereum’s Layer 2 ecosystem was still in its early stages.
The migration now reflects how much Ethereum scaling infrastructure has evolved over the past four years. OP Stack-powered chains currently process millions of transactions across the broader Ethereum ecosystem.
Ronin said the shift will strengthen security, treasury revenue, builder incentives, and long-term sustainability.
The migration will temporarily halt block production for around 10 hours on 12 May while the network completes the transition.
Final Summary Ronin will reconnect to Ethereum through an OP Stack-based upgrade scheduled for 12 May. The migration cuts RON inflation from above 20% to below 1% while introducing new treasury and builder reward systems.
TLDR Ronin will migrate from an independent sidechain to an Ethereum layer 2 on May 12. The network will execute a hard fork at block 55,577,490 and pause activity for about 10 hours. Ronin said all transfers, swaps, and smart contract interactions will stop during the downtime. The upgrade will introduce a Proof of Distribution model to reward active contributors. The new model will reduce RON token inflation from over 20 percent to below 1%. Ronin will migrate from an independent sidechain to an Ethereum layer 2 on May 12. The network will execute a hard fork at block 55,577,490 and pause operations for about 10 hours. The team said the move will strengthen security while maintaining throughput and lower token inflation.
Ronin Migration Plan and Network Downtime Ronin announced the transition in April and confirmed the execution timeline this week. The network said it will begin the upgrade around 15:16 UTC on Tuesday, based on onchain data. The hard fork will halt transfers, swaps, and smart contract activity during the downtime window. Ronin stated on X, “All network transactions will be paused,” and urged users to complete actions before the pause.
As part of the upcoming Ronin L2 migration, the network will experience approximately 10 hours of scheduled downtime.
During this downtime window, all network transactions [including transfers, swaps, and smart contract… pic.twitter.com/QvbRvZBqa7
— Ronin Shield (@ronin_shield) May 11, 2026
The team said all games built on the network will experience temporary disruption. It confirmed that Axie Infinity and Pixels will suspend in-game onchain actions during the upgrade. Ronin explained, “To avoid any inconvenience, please complete all necessary transactions before the downtime begins.” The network will resume operations after completing the technical transition.
Ronin launched four years ago to support Axie Infinity’s need for faster transactions. The company said, “Axie Infinity onboarded millions of gamers to crypto.” It added that Pixels later demonstrated repeated onboarding success. The team now aims to reconnect with Ethereum and integrate more closely with its base layer.
Ronin suffered a $625 million bridge exploit in 2022 while operating as a sidechain. The attack remains the largest DeFi bridge exploit recorded. The new structure will link the network directly to Ethereum as a layer 2. The team said this structure will enhance bridge security and reduce structural risk.
RON Token Economics and OP Stack Integration The migration will introduce a “Proof of Distribution” model during the downtime. Ronin said the model will reward builders based on active network contribution. The company stated that the change will reduce token inflation from over 20% to below 1%. It described the adjustment as “fundamentally bullish for RON.”
Ronin will redirect 90 million RON tokens from staking rewards to the treasury. The network will also increase marketplace fees to 1.25% from 0.5%. The team confirmed these changes as part of its revised token structure. It aims to reset supply dynamics through lower emissions and updated incentives.
RON trades at about $0.11 with a market capitalization near $89.5 million. The token remains below its 2024 peak level. However, prices rose 30% over the past 30 days following the migration announcement. Onchain data reflects increased activity during the preparation phase.
Ronin will transition to the OP Stack to operate as an Ethereum layer 2. The network said this integration will allow it to inherit Ethereum’s security framework. It will also use EigenDA for data availability to support scalability. The company confirmed that it will begin the migration process on Tuesday at 15:16 UTC.
Ronin, the blockchain backbone of the Axie Infinity gaming ecosystem, is preparing for a major upgrade on May 12. The network will undergo a hard fork to transform itself into an Ethereum Layer 2 solution using OP Stack technology. This transition will begin at block height 55,577,490 and come with a planned network shutdown expected to last around 10 hours.
Planned network outage and user alertsDuring the transition, all transactions, swaps, smart contract interactions, and in-game activities on the Ronin network will be paused. Users are advised to complete any pending operations before the maintenance begins. The Ronin team has proactively warned the community to minimize disruptions and potential issues.
During the upcoming Ronin Layer 2 migration, the network will experience a planned outage of approximately 10 hours. All network activity, including transfers, swaps, and smart contract transactions, will be suspended throughout this period.
Ronin was originally launched in 2021 as a sidechain to handle heavy transaction loads for Axie Infinity, which the Ethereum network struggled to support at the time. In the four years since, Ethereum has evolved significantly, witnessing lower fees and more mature layer 2 scaling solutions.
Security and new integrationsSecurity concerns were a major factor in Ronin’s decision to migrate to Layer 2. In March 2022, a notorious exploit linked to North Korea’s Lazarus Group compromised five network validators, leading to a loss of $625 million on the bridge. This incident remains the largest cross-chain bridge hack in decentralized finance history. Another, albeit smaller, attack took place in August 2024.
By adopting OP Stack, Ronin will begin leveraging Ethereum mainnet security directly, aiming to prevent ‘bridge’ exploits from recurring. Additionally, with the integration of EigenDA for data availability, the network will lower scaling costs while maintaining high transaction throughput.
Major tokenomics overhaulThe move to Layer 2 will also bring fundamental changes to the tokenomics of Ronin’s native token, RON. The annual inflation rate will be slashed from over 20% to below 1%. Roughly 90 million RON tokens previously reserved for validator rewards will instead be allocated to a network treasury. Marketplace transaction fees will be reduced from 1.25% to 0.5%.
Staking rewards are getting a major revamp as well. The traditional model, which automatically rewarded all passive validators, will be replaced by a new ‘Proof of Distribution’ system. Only stakeholders actively contributing to the network will receive rewards, fostering stronger incentives for developers and projects.
According to CryptAppsy data, RON is currently trading near $0.11, with a market capitalization of $89.5 million. The price has surged about 30% in the past 30 days. Investors anticipate further gains as the supply tightens and the rewards scheme shifts with the Layer 2 migration.
Ronin’s Layer 2 transition marks another example of independent chains like Celo integrating into Ethereum’s security framework. This trend is expanding, yet Layer 1 competitors such as Solana continue to vie for market share without slowing pace in the short term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ronin Ethereum is migrating to a Layer 2 on May 12 with roughly 10 hours of scheduled downtime.
Summary
Ronin will hard fork at block 55,577,490 on May 12, transitioning from an independent sidechain to an Ethereum Layer 2 on the OP Stack. All transfers, swaps, and smart contract interactions will pause for roughly 10 hours during the migration window. RON token inflation will drop from over 20% to below 1%, with 90 million RON redirected to the treasury as marketplace fees rise to 1.25%. Ronin, the gaming-focused blockchain behind Axie Infinity, is executing a hard fork on May 12 to complete its transition from an independent sidechain to an Ethereum Layer 2. The migration was announced in April and will trigger at block 55,577,490, expected around 15:16 UTC.
All Ronin transactions will pause for roughly 10 hours during the migration window. That covers transfers, swaps, NFT trades, and smart contract interactions. Node operators on Ronin mainnet are required to upgrade to release 1.2.2 before the hard fork.
What changes after the migration Ronin said the move is about plugging “back into the mothership.” The new structure will link the network directly to Ethereum for settlement and data availability, replacing the older nine-validator sidechain model with OP Stack rollup infrastructure.
RON token inflation will fall sharply from over 20% annually to below 1% under a new Proof of Distribution model. Marketplace fees will also rise from 0.5% to 1.25%, with 90 million RON tokens previously allocated for staking redirected to the Ronin treasury.
Ronin will integrate EigenDA to handle data availability for transactions, storing data off-chain while keeping it verifiable and accessible to Ethereum. The migration brings Ronin into the same OP Stack ecosystem as other chains including Celo and Fraxtal.
Context: the $625 million hack that made this necessary While operating as an independent sidechain in March 2022, Ronin suffered the largest DeFi bridge exploit in history, with $625 million in ETH and USDC drained from its bridge. The attack exposed the structural risks of the sidechain model, where only a small number of centrally-managed validators were responsible for securing the network.
The Layer 2 transition directly addresses those concerns by inheriting Ethereum’s security rather than relying on Ronin’s own validator set. The Ronin bridge previously migrated to Chainlink’s cross-chain interoperability protocol in April 2025 as an earlier step in securing its infrastructure ahead of the full L2 move.
The digital gaming landscape underwent a significant structural transformation on May 12, 2026, as the Ronin Network officially finalized its transition from a standalone sidechain to an integrated Ethereum Layer 2 network. This shift, executed via the OP Stack, represents a pivotal “homecoming” for the ecosystem that famously birthed the play-to-earn phenomenon through Axie Infinity. By aligning with the Optimism Superchain architecture, Ronin has effectively traded its isolated security model for the shared finality and robust protection of the Ethereum mainnet. This transition is not merely a technical patch but a comprehensive reimagining of what a gaming blockchain must look like in a post-exploit era. The migration involved approximately ten hours of scheduled downtime beginning at block height 55,577,490, during which every piece of in-game data, marketplace listing, and wallet balance was meticulously ported to the new Layer 2 state. For the millions of users within the Ronin ecosystem, this change promises a future where the friction of cross-chain bridging is minimized and the specter of a standalone validator compromise is permanently removed. The engineering feat required to synchronize the massive state of games like Pixels and Axie Infinity into a Rollup structure highlights the maturity of the OP Stack as a scalable solution for high-throughput applications.
Radical Tokenomic Restructuring and the Deflationary Pivot Beyond the architectural upgrades, Ronin has introduced a drastic overhaul of its native token, RON, shifting from an inflationary incentive model to a fundamentally deflationary one known as Proof of Distribution. Under the previous sidechain regime, the network relied heavily on high inflation—often exceeding twenty percent—to subsidize staking rewards and secure the network. The new Layer 2 reality has allowed the Ronin Foundation to slash annual inflation to less than one percent, a move that has stunned market analysts and signaled a transition toward long-term sustainability. Approximately ninety million RON tokens that were originally earmarked for passive staking rewards have been redirected into the Ronin Treasury to serve as a war chest for future game acquisitions and ecosystem development. To replace the lost staking incentives, the network is implementing a sequencer net fee capture system alongside a revised marketplace fee structure, which has been increased from point-five percent to one-and-a-quarter percent. This pivot ensures that value accrual is driven by actual network utility and gaming volume rather than artificial token issuance. By integrating EigenDA for data availability, Ronin is able to maintain negligible transaction costs for its users while capturing a higher percentage of the economic value generated by its premier gaming titles, effectively turning the network into a self-sustaining economic engine.
The Future of On-Chain Gaming within the Ethereum Ecosystem The decision to become an Ethereum Layer 2 places Ronin in an elite category of sovereign networks that have recognized the long-term dominance of the Ethereum settlement layer. This migration allows Ronin to leverage Ethereum’s deep liquidity pools while maintaining the specialized environment required for low-latency gaming. The integration with the OP Stack also opens the door for seamless interoperability with other Superchain participants, potentially allowing gamers to move assets between different specialized layers without traditional bridging delays. As the 2026 gaming market becomes increasingly crowded, Ronin’s move provides it with a distinct competitive advantage by offering the highest level of security available in the decentralized world. The homecoming is a clear signal that the era of fragmented, insecure sidechains is coming to an end, replaced by a modular future where specialized application chains benefit from a unified security umbrella. For developers, this means the Ronin ecosystem now offers the best of both worlds: a highly tailored environment for game mechanics and the uncompromising peace of mind that comes from Ethereum’s multi-billion dollar security budget. As the network stabilizes in its new form, the focus shifts back to the content, with several AAA titles slated for release on the newly fortified Ronin Layer 2 before the end of the fiscal year.
About the Author: Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex—broker technology, liquidity, and macro drivers. Karthik’s writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities.
Ronin L2 migration completed May 12, ending four years as a sidechain after a 10-hour network shutdown.
Summary
Ronin executed its hard fork at block 55,577,490 on May 12, completing a transition to an OP Stack Ethereum Layer 2 with 10 hours of downtime. RON token inflation drops from over 20% to below 1% under a new Proof of Distribution model that rewards active builders over passive stakers. Partners including Optimism, Conduit, Boundless, and EigenLayer supported the migration, with EigenDA handling off-chain data availability. The Ronin L2 hard fork executed at block 55,577,490 on May 12, transitioning the gaming blockchain from an independent EVM sidechain into a full Ethereum Layer 2 built on Optimism’s OP Stack. Sky Mavis co-founder Jihoz announced in the lead-up that the network would enter “hibernation” for approximately 10 hours while the upgrade completed, with no action required from users or players.
Ronin joins Base, Celo, and Fraxtal as purpose-built chains that have chosen to operate under Ethereum’s umbrella through the OP Stack. “Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” the team said when first announcing the migration. “The time has come to plug back into the mothership.”
What changed in the hard fork RON token inflation falls from over 20% annually to below 1% under the new Proof of Distribution model, which redirects 90 million RON tokens previously earmarked for passive staking toward the Ronin treasury. Marketplace fees also rise from 0.5% to 1.25%, with sequencer profits from the Layer 2 flowing into the treasury.
EigenDA handles off-chain data availability for the new chain while Ethereum provides settlement and finality. Partners including Optimism, Conduit, Boundless, and EigenLayer supported the migration, with Ronin now composable with Ethereum’s broader DeFi ecosystem.
Any node running older software was cut off once the new chain activated. Ronin confirmed that all games on the network, including Axie Infinity and Pixels, suspended on-chain activity during the downtime and resumed immediately upon completion.
Why the migration happened now The move addresses the structural concerns that made Ronin vulnerable to the $625 million Lazarus Group bridge exploit in March 2022, the largest DeFi bridge hack in history. Operating as an independent sidechain with only nine validators created a centralised security model that Ethereum Layer 2 settlement directly resolves by inheriting the base chain’s security.
Governance also shifts to token-weighted voting under the new structure, giving RON holders direct input over treasury decisions, buybacks, and DeFi initiatives. Ronin also plans to deploy Uniswap v3 as its canonical DEX post-migration, backed by a $1.5 million liquidity incentive program to bootstrap DeFi activity on the upgraded network.
Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.
In this issue:
The biggest consensus overhaul in Solana history is officially live for testingLayerZero says it "made a mistake" in $292 million Kelp exploitRonin set to transition to Ethereum layer 2 from independent sidechainThe Ethereum Foundation unveils new "Clear Signing" standard to stop users from approving malicious crypto transactionsNetwork News"ALPENGLOW" UPGRADE LIVE FOR TESTING ON SOLANA: Solana developer Anza said that Alpenglow, the network’s biggest proposed consensus overhaul to date, is live on a community test cluster, marking a major step toward a potential mainnet rollout. The update means validator operators can now test software designed to move Solana from its current consensus system, which combines Proof-of-Stake with TowerBFT and Proof-of-History, toward a new architecture intended to dramatically reduce finality times and improve network responsiveness. “Alpenglow is live on the community test cluster,” Anza wrote on X. “The biggest consensus change in Solana’s history, now running on validator infrastructure ahead of mainnet.” Today, Solana relies on Proof-of-History, a cryptographic clock that timestamps transactions, alongside TowerBFT, a voting mechanism validators use to agree on the state of the blockchain. While the design has helped Solana achieve high throughput and low fees, some have pointed to outages and network instability during periods of heavy demand. — Margaux Nijkerk Read more.
LAYERZERO APOLOGY FOR KELP DAO INCIDENT: LayerZero said that it “made a mistake” allowing its own verification infrastructure to secure high-value crypto assets in a vulnerable configuration, marking a notable shift in tone after weeks of blaming developer Kelp DAO for a $292 million hack tied to North Korean attackers. The admission marks a notable shift after weeks of public finger-pointing between LayerZero and Kelp over responsibility for the April hack, which LayerZero had initially framed as an application-level configuration failure by Kelp. “First things first: an overdue apology,” LayerZero wrote in a blog. LayerZero initially blamed Kelp, arguing the protocol had chosen a risky “1-of-1” configuration in which only a single decentralized verifier network, or DVN, needed to approve cross-chain transfers, creating a single point of failure. A DVN is part of the infrastructure that verifies whether a transaction moving assets between blockchains is legitimate. “We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions,” the company said. “We didn't police what our DVN was securing, which created a risk we simply didn't see. We own that.” — Sam Reynolds Read more.
RONIN TO TRANSITION TO LAYER-2: Ronin, the gaming-centric blockchain once synonymous with the industry’s infamous $625 million exploit in 2022, is officially shedding its sidechain skin on May 12 to become an Ethereum layer 2 to improve security while maintaining throughput. Ronin, which announced the migration in April, will execute a hard fork at block 55,577,490, a process that will result in about 10 hours of downtime for users, the network said Monday on X. According to onchain data, the migration is expected to begin on Tuesday around 15:16 UTC. “Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” Ronin said when announcing the migration. “It worked. Axie Infinity onboarded millions of gamers to crypto, and Pixels proved that it was possible to do it again.” The time has come to plug "back into the mothership." While operating as an independent sidechain in mid-May 2022, Ronin suffered what is still today the largest DeFI bridge exploit in history. Layer 2 protocols benefit from tighter links to the underlying blockchain than sidechains, offering benefits that include greater security. — Olivier Acuna Read more.
ETHEREUM DEVELOPERS RELEASE “CLEAR SIGNING”: The Ethereum Foundation and a group of major crypto wallet developers are rolling out a new security standard designed to stop users from accidentally signing away their funds, a problem that has fueled some of the industry’s biggest hacks and scams. The initiative, called “Clear Signing,” aims to replace the confusing walls of code users currently see when approving Ethereum transactions with simple, human-readable explanations of what they’re actually agreeing to. The effort comes after years of phishing attacks and wallet drains that often boil down to the same issue: users unknowingly approving malicious transactions they don’t understand. The Ethereum Foundation pointed to incidents like the Bybit hack as examples of how attackers exploit “blind signing,” where users approve transactions filled with unreadable technical data. Right now, signing a crypto transaction can feel like clicking “accept” on a terms-of-service page written in another language. Wallets often display long strings of code that only highly technical users can decipher, leaving everyday traders vulnerable to fake apps, malicious links and compromised websites. — Margaux Nijkerk Read More.
In Other NewsCharles Schwab, the brokerage giant that manages around $12 trillion in client assets, began the rollout of its spot cryptocurrency trading service for retail customers in the U.S. An initial group of clients can now trade bitcoin and ether (ETH) on the Schwab Crypto platform, the company posted on X.In July last year, CEO Rick Wurster said the company planned to introduce crypto trading in the near future, with a timeframe of first-half 2026 confirmed last month. The Westlake, Texas-headquartered firm already offers crypto investments through exchange-traded funds (ETFs) and futures trading. — Jamie Crawley Read more.JPMorgan (JPM) is preparing to launch a tokenized money market fund, the latest sign that major financial institutions and Wall Street asset managers are speeding up efforts to move traditional assets onto blockchain rails. A filing with the U.S. Securities and Exchange Commission SEC) outlined plans for a blockchain-based money-market fund investing exclusively in short-term U.S. Treasuries, cash and overnight repo agreements backed by government securities. The fund, dubbed JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), will maintain blockchain-based token balances tied to investors' ownership records, allowing approved users to submit purchase, redemption and transfer requests through Ethereum, the filing said. The underlying blockchain infrastructure will be operated by Kinexys Digital Assets, JPMorgan’s blockchain unit formerly known as Onyx. — Kristzian Sandor Read more.Regulatory and PolicyThe legislation that could fully insert the U.S. crypto industry into the regulated financial system has emerged in its latest form, with the Senate Banking Committee unveiling the market structure bill's text just after midnight on Tuesday in advance of this week's hearing that's set to push the effort forward. The latest version wasn't expected to offer many surprises for the crypto industry that's already had a chance to dig through it privately, but it includes still-contentious language on stablecoin yield and it maintains legal protections for decentralized finance (DeFi) developers, keeping that corner of the crypto sector happy (so far). Industry insiders waited for the release late into the night, and they'll still have to study the language to ensure their expectations were met. "This bill reflects serious, good-faith work across the committee and delivers the certainty, safeguards, and accountability Americans deserve," committee Chairman Tim Scott said in a statement. "It puts consumers first, combats illicit finance, cracks down on criminals and foreign adversaries and keeps the future of finance here in the United States." — Jesse Hamilton Read more.The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors on Tuesday, moving President Donald Trump’s pick one step closer to becoming the next chair of the U.S. central bank. Lawmakers approved Warsh in a 51-45 vote. Sen. John Fetterman (D-Pa.) was the only Democrat to support the nomination. Warsh still must win a separate Senate vote to become Fed chair, which is expected Wednesday. Governors serve 14-year terms while the chair serves a four-year term. If confirmed as chair, Warsh, 56, will replace Jerome Powell, whose eight-year term leading the Fed ends Friday. Powell, however, has said he plans to remain on the board until a federal probe into renovations at the Fed’s headquarters concludes. — Helene Braun Read more.Calendar
June 2-3, 2026: Proof of Talk, ParisJune 4, 2026: Stable Summit, New YorkJune 8-10, 2026: ETHConf, New YorkSept. 29-Oct.1, 2026: Korea Blockchain Week, SeoulOct. 7-8, 2026: Token2049, SingaporeNov. 3-6, 2026: Devcon, MumbaiNov. 15-17, 2026: Solana Breakpoint, LondonRelated Assets
Ronin [RON], the $85.9 million market cap gaming token, surged 76.26% on the 18th of May, climbing from $0.0851 to $0.150. Since then, it has pulled back 26% from the local high and was trading at $0.1108 at press time.
Notably, the daily trading volume surged by 1,592%, according to CoinMarketCap data, and the Open Interest was up by 437.77% in the previous 24 hours.
Moreover, strong speculative capital flow and heavy trading volume signaled potential for RON. Here’s a closer look at the obstacles the altcoin could face.
RON’s three-month range’s bullish breakout Source: RON/USDT on TradingView The range (purple) has been in place since February. It stretched from $0.085 to $0.108, though there were plenty of candle wicks outside the extremes. A breakout just a week ago was followed by a full retracement back to the range lows.
This failed breakout was followed by the recent rally, and at the time of writing, the range highs were about to be retested as support. The Moving Averages and the RSI signaled bullish momentum. However, the latter exhibited a bearish divergence on the daily timeframe.
Though the OBV has made new highs, there’s a chance that the current breakout also ends up failing. This is why the reaction at the $0.108 area could be a make-or-break moment for the bulls.
Traders’ call to action: Cautiously bullish Source: RON/USDT on TradingView The retracement levels at $0.1099 and $0.099 represented the golden pocket for RON bulls to initiate a bullish reversal from. These levels also lined up relatively well with the range, high and mid-range, respectively.
A drop below $0.099 would signal another retracement to the $0.085 range lows, nullifying the bullish breakout.
Meanwhile, a strong reaction from the nearby demand zone could see the Ronin token rally to $0.165 and $0.19, the 23.6% and 61.8% Fibonacci extension levels plotted based on the coin”s recent rally.
Final Summary RON had been in a long-term downtrend, but its recent rally has shown bullish potential with high spot and derivatives trading volume. The small-cap token’s bulls need to defend the former range highs and sustain the buying pressure to keep the rally going.
Years after its original reveal, Teenage Mutant Ninja Turtles: The Last Ronin is back at Summer Game Fest with another teaser.
Summer Game Fest The Last Ronin Trailer Comic book fans are likely very familiar with the story behind The Last Ronin and TMNT fans have been eagerly awaiting the video game adaptation of the iconic limited series.
Teenage Mutant Ninja Turtles: The Last Ronin took the stage at Summer Game Fest with an official announcement trailer. That said, the trailer revealed very little details about the game and didn’t provide any real look at gameplay footage. Unfortunately, fans are going to have to continue waiting to find out what this game will actually look and play like.
Teenage Mutant Ninja Turtles: The Last Ronin is a AAA action-adventure game being developed by Platinum Games. Based on the popular comic book series, TMNT: The Last Ronin follows the last surviving Ninja Turtle as he embarks on a desperate mission for vengeance.
Be sure to check back soon for new news and updates on The Last Ronin and everything else happening at Summer Game Fest.
Teenage Mutant Ninja Turtles: The Last Ronin does not currently have a confirmed release date.
Ronin Stash is a new keyless wallet solution on Ronin, powered by Privy. Anyone can create a Ronin Stash account for free here.
Action required: If you have a Ronin Waypoint account, you need to manually transfer your NFTs, tokens, and onchain assets to a new Ronin Stash account OR a seedphrase wallet using our official migration portal. If you do not transfer your assets before the deadline, they will be lost forever.
How to transfer to the new Ronin Stash account: Go to the migration page and select Ronin Stash as a destination. We’ll automatically create a new address for you, and you’ll be able to transfer your onchain assets there.
Ronin Waypoint is now Ronin Stash! Keyless wallets make it possible for more people to get started on Ronin. In 2024, we launched Ronin Waypoint to accomplish this mission. Today, we’re plugging into Privy and updating the keyless wallet experience on Ronin. Here’s what’s happening:
Migrate from Waypoint to Stash
Ronin Stash is a simple, easy-to-use keyless wallet solution powered by Privy. Create a Stash account with your email or social login and start making transactions in seconds. No seedphrase or technical knowledge required. That means users continue to have two options on Ronin:
• Use Ronin Wallet with seedphrase to retain 100% ownership of your onchain assets
• Use Ronin Stash without seedphrase for easy onboarding onto Ronin
If you have a Ronin Waypoint account, you’ll need to manually transfer your onchain assets to a new Ronin Stash account OR a seedphrase wallet. If you do not transfer your assets before the deadline, they will be lost forever. Follow the instructions below before September 16th to migrate.
Step 1: Go to the Ronin Stash migration website
Step 2: Connect to your Ronin Waypoint account
Step 3: Select Ronin Stash or Address of RNS
Note: This is where you’ll transfer your assets to.
Step 4: Select the assets you’d like to transfer
Step 5: Click “Migrate”
Q: How do I check if my account is a Waypoint wallet, or see which email/login is associated with it?
A: Log into https://waypoint.roninchain.com/dashboard/wallet and verify whether your wallet is listed under Social Login Wallet / Keyless.
Q: Do I need to take action if I only use a seed phrase wallet?
A: No action is needed. If you exclusively use a traditional seed phrase wallet, you are completely unaffected by this change.
Q: Why are we moving to ‘Stash’? What problem does this actually solve?
A: We built Waypoint quite a while ago when modern web3 onboarding infrastructure (like Privy) wasn’t yet fully mature or battle-tested. Now that these solutions are industry-standard, migrating to Stash allows us to drastically optimize the first-time user experience and clear the path for massive ecosystem growth.
Q: What happens to soulbound assets currently on Waypoint?
A: We’ve closely reviewed the data, and the vast majority of soulbound assets are tied directly to Axie Infinity. The Axie team already has a dedicated support plan locked in for bAXS and badge migration. Head over to the official Axie Discord for their specific migration guides.
Q: Why is there only a 90-day window before access is cut off permanently?
A: Maintaining legacy, infrastructure indefinitely creates increased dev cost and fragments the network. A 90-day window provides active users with ample time to transition their accounts.
Q: How are we ensuring users actually see this announcement? Why not email them directly?
A: We have already deployed our primary announcements across owned media channels. A coordinated wave of direct email reminders and push notifications will be sent directly to affected users throughout the 90 days to ensure everyone gets the message.
Q: How do I access my Ronin Stash assets after completing the migration?
You will need to logout from wallet.roninchain.com and then login again using the Ronin Stash option to manage your assets.
Note: you might not yet be able to use them in certain dApps/projects until they have fully integrated the Ronin Stash.
Craft World is #2 of 51 projects on Ronin’s Proof-of-Distribution (PoD) leaderboard for Season 1, right up alongside Ronin’s most established games.
The engine behind that ranking is reach and growth: ~60,000 monthly active players, ~9,000 every day, and around 1,500 new installs daily.
Most of those players start out brand new to Web3. We don’t hide the blockchain from them. We make it easy and bring them on-chain step by step: a VOYA ID (the Ronin smart wallet we set up automatically), sponsored gas, and an in-game economy that trades on Katana. This post is about how.
Ronin’s Proof-of-Distribution program rewards the projects that genuinely put the chain to work: real on-chain activity, real growth, real usage of the wider ecosystem. A high PoD ranking isn’t a vanity number; it’s a measure of how many people are actually doing things on-chain because of your game.
That’s why we’re proud to sit at #2 of 51, and prouder still of how we got there. Not with a small circle of crypto power users, but the opposite way: a large and fast-growing base of everyday players. Tens of thousands are active every month, transacting on Ronin and trading on Katana as a normal part of play.
Here’s the part that matters: most of those players didn’t come for crypto. They came for the game. On day one, a new player doesn’t have to think about wallets, tokens, or gas at all. From there, we bring them on-chain gradually, as the game gives them reasons to. The point was never to hide the blockchain. It’s to make it easy enough that anyone can use it, and to ease people in instead of asking them to figure it all out up front.
Because for most people, web3’s on-ramp is a series of walls: a wallet to create, a seed phrase to back up, a gas token to buy before you can move, a stream of confirmation pop-ups. Each wall is a place where a normal player quits. We took them down one at a time. Here’s how.
When someone opens Craft World, they don’t go hunting for a wallet. They can start playing right away as a guest, then link an email or social login to secure the account. Behind the scenes, we set up their VOYA ID: a smart wallet on Ronin, tied to that login, that doubles as their account and on-chain identity.
No seed phrase to write down. Players never have to back up twelve words to get started. Access is built on the sign-in methods they already trust, and we handle the wallet behind it.
A real Ronin address. A VOYA ID isn’t a database entry pretending to be a wallet. It’s a genuine smart wallet on Ronin, the same kind of on-chain account the rest of the ecosystem uses.
Room to grow. Players who want to bring their own wallet, like Ronin Wallet, can link one whenever they’re ready.
The result is that the “set up a wallet” step, one of the biggest drop-off points in web3 games, basically disappears.
Even with a VOYA ID in hand, most newcomers hit the next wall: you need the network’s gas token before you can make a single move. We took that one down for everyday play, too.
Gas is sponsored. For the on-chain actions in normal gameplay, we cover the network fee on the player’s behalf. They don’t need to acquire RON just to play.
No confirmation fatigue. Key on-chain actions like daily check-ins, claims, and Exchange trades don’t bury the player under transaction pop-ups.
It still feels like a game. Tap, play, progress. The chain settles the on-chain parts underneath.
For the player, the experience feels like a polished web2 game. Under the hood, the actions that matter on-chain are settling as real transactions on Ronin.
This is the part we’re proudest of. Craft World runs a player-owned economy: the resources players gather, craft, and trade (EARTH, WATER, COIN, and the rest) are backed by real tokens on Ronin, with real value players can trade on the open market. Inside the game they feel like a normal inventory, and when a player trades, those tokens move on-chain.
And when players want to trade them, our in-game Exchange settles the swap on Katana:
Real liquidity, real swaps. A trade in our Exchange is routed through Katana’s on-chain liquidity. Players are trading against the same DEX infrastructure the broader Ronin ecosystem uses.
Priced from the live market. Quotes come straight from Katana’s on-chain liquidity at the moment of the trade, not a number we made up.
Wrapped in a simple UI. The player picks two resources, enters an amount, and confirms. Token approvals, routing, slippage protection, and settlement all happen automatically.
Players use it heavily. Our system facilitates around 180,000 trades a month: real swaps, on real liquidity, at real scale, on Ronin.
In other words: when our players use the Exchange, they’re trading on a real decentralized exchange, without needing the hardware wallet or DeFi know-how it used to take. It’s not that the blockchain is hidden; it’s that using it finally feels easy.
Put these pieces together (automatic wallet, sponsored gas, an economy that settles on Katana) and the usual web3 drop-off points disappear. Players who would have quit at “create a wallet” or “go buy some RON” simply keep playing. That’s the whole flywheel behind our PoD ranking:
The funnel stays full. The barrier isn’t “do you understand crypto?” It’s “do you want to play?” That’s how ~1,500 new installs a day compound into a ~60,000-strong monthly player base.
Every active player is on-chain. They each have a VOYA ID (a real Ronin smart wallet), and their trades settle on Katana, including the many who started out brand new to web3.
Growth and on-chain activity become the same thing. A large, growing, genuinely a
ctive player base is exactly what PoD measures. It’s how a game built to ease players into web3, rather than gate them behind it, ends up #2 on a blockchain leaderboard.
And the door keeps opening wider: as players get comfortable, they can link their own wallet like Ronin Wallet and step further into the ecosystem at their own pace.
We think this is how the next wave of players comes on-chain: not by asking them to learn blockchain first, but by giving them a great game and easing them into the on-chain world as they go. Ronin and Katana gave us the foundation to make that real.
Blockchain is an incredible technology. The art is in making it easy enough that anyone can use it, and inviting players in rather than asking them to figure it out first. We’re excited to keep building that on Ronin and grateful to the Ronin team for collaborating with us to share how we do it.
Amkette has expanded its EvoFox Ronin Series portfolio with the launch of the Ronin HS65 Hall Effect wired mechanical keyboard in India. The new keyboard is aimed at gamers and users looking for customizable controls and a compact design.
A Hall Effect keyboard uses magnetic sensors instead of traditional mechanical contacts to detect key presses. This allows users to adjust how far a key must be pressed before it registers input, offering greater control and flexibility for both gaming and everyday typing.The EvoFox Ronin HS65 features a compact 65% layout with 66 keys and HallSense Precision Magnetic Switches. The keyboard also offers an 8000Hz polling rate, which helps it communicate inputs to a computer more frequently, and Rapid Trigger technology that allows keys to reset and respond faster during repeated presses.According to the company, the keyboard includes software-based customisation features such as Snap Tap Mode, Dynamic Keystroke (DKS), Mod Tap and Toggle Key. These features allow users to assign multiple functions to a single key, change how keys behave when tapped or held, and customise controls based on their preferences.
EvoFox Ronin HS65 Hall effect wired mechanical keyboard: Price and availability
The EvoFox Ronin HS65 Hall Effect Wired Mechanical Keyboard is available in India at a launch price of Rs 3,999.
Customers can purchase the keyboard through Amkette's official website, Amazon and Flipkart.
EvoFox Ronin HS65 Hall effect wired mechanical keyboard: Features and specifications
The Ronin HS65 uses magnetic Hall-effect switches that detect key presses via magnetic sensors rather than traditional physical contact. Users can adjust key travel and actuation points to suit their preferences.The keyboard includes dual-layer sound absorption, pre-lubed switches and PBT keycaps designed to provide a more consistent typing experience.
Other features include all-key anti-ghosting, 18 RGB lighting effects, onboard memory for storing profiles and a multifunction volume knob for quick adjustments.The keyboard supports both Windows and Mac operating systems and can be customised through web-based software. Connectivity is handled through a wired connection using a 1.8-metre braided cable with a wire organiser.“The Ronin HS65 is designed for users who want more control from their keyboard, whether that means faster response times in competitive games, smarter key customisations, or a more premium everyday typing experience. With Hall Effect precision, advanced software features, and a compact design, the HS65 is built to deliver serious performance without compromising on usability,” said Varun Bapna, Founder of EvoFox.
Ethereum gaming network Ronin has opened its doors for any developer to build new games, decentralized applications, or other projects in its ecosystem as part of a broader “Open Ronin” push.
Previously, Ronin has operated as a curated blockchain, with the Ethereum sidechain building a reputation for prominent crypto gaming experiences and developing a die-hard fan base in the process. Ronin’s RON token has grown to become the second largest gaming chain token by market capitalization at $720 million, according to CoinGecko, since it launched in 2021.
Ronin is the home to the popular farming game Pixels, strategy title Apeiron, as well as the seminal play-to-earn game Axie Infinity—which was developed by Ronin creator Sky Mavis itself. Over the past year, multiple developers have switched to the gaming network citing the “Ronin Effect,” referencing the apparent boost that games see from the Ronin audience.
As part of the Open Ronin announcement, Pirate Nation developer Proof of Play said that the game is expanding from Arbitrum to Ronin, with a Ronin NFT mint planned ahead.
“Over the past four years, we’ve cemented our status as the premier gaming chain, and now we’re evolving once again,” Sky Mavis CEO and co-founder Trung Nguyen said, in a statement. “With Open Ronin, we’re accelerating our growth—unlocking more games, DeFi applications, and dApps than ever before. I believe this moment will be studied for years to come.”
With this move, Sky Mavis has released the Ronin Developer Console as a toolkit to help those building on the network. The toolkit will aid developers in creating simple NFT listings, sponsored transactions (so that players avoid paying gas fees), and in-game marketplaces, plus will provide smart contract templates.
1/ The Golden Age of Ronin Starts NOW!
We have just submitted a transaction to break down the allowlist for deploying contracts on Ronin.
From this moment forward, Ronin is open.
Here’s what this grand opening means for our movement 🧵👇 pic.twitter.com/Wmr3Pimaqb
— Ronin (@Ronin_Network) February 12, 2025
“Today marks the dawn of Ronin’s golden age,” Nguyen said. “If you’re building something that will make sense to everyday people, we want you to build it on Ronin.”
Since its inception, Ronin has opted for a closed, curated approach—only accepting developers of projects they deemed high-quality enough. Sky Mavis and Ronin co-founder Jeff “Jihoz” Zirlin told Decrypt this is because there is an “overabundance” of games in crypto, while there remains a lack of gamers. But, even during that mid-2024 interview, he had an eye on the chain going “pervasively permissionless.”
“Now, with a more mature ecosystem and growing market demand, it makes sense to transition into a more self-serve model,” Nguyen told Decrypt in a statement, “allowing more developers and creators to build, experiment, and scale on Ronin while maintaining the quality and success that made it appealing in the first place.”
Zirlin said that by going permissionless, the number of games deploying on the gaming network would accelerate. In doing this, he hopes one of those games would help drive the growth of Ronin—like Pixels did in 2024, and Axie Infinity did during the play-to-earn boom of 2021.
“The endgame is to create an ecosystem that seamlessly blends gaming with ecommerce and payment apps,” Zirlin told Decrypt in 2024. "We believe the path to getting there is by bootstrapping adoption and attention through gaming, and then expanding into payments and ecommerce, thereby disrupting the predatory banking system and credit card industry.”
Edited by Andrew Hayward
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Pixels and Forgotten Runiverse, a pair of crypto games on the gaming-focused Ethereum scaling network Ronin, are teaming up to bring Pixels’ PIXEL token to the Runiverse—the massively-multiplayer online role-playing game or MMORPG that just opened to the public in early access.
Forgotten Runiverse, developed by Biosonic, is based on the lore of the Ethereum NFT collection Forgotten Runes Wizard’s Cult. The game opted to move from layer-2 Arbitrum to Ronin in July 2024 and will eventually have its own native token, XP, which will act as the ecosystem token for Forgotten Runes.
Social farming game Pixels also made its own move to Ronin in late 2023, driving substantial renewed attention to the Ethereum network ahead of last year’s launch of the PIXEL token. Amid a recent push to open up Ronin to all builders, the two teams are now collaborating.
“We’ve always seen a lot of potential synergy between our teams, as we both are focused on creating interoperable, sustainable Web3 economies, and we’re constantly thinking about how we can work together to push that vision forward,” Pixels founder Luke Barwikowski told Decrypt.
“Honestly, if there’s one thing the industry needs right now, it’s more collaboration,” he added. “Ultimately, this is a win-win for all of us.”
Thanks to the collaboration, Runiverse players will be able to claim PIXEL rewards with Quanta—the in-game currency of the Forgotten Runiverse. PIXEL will also be used for purchasing mana, boosts, and exclusive items within the game.
How the Pixels x Forgotten Runiverse collaboration will work. Image: Pixels/Forgotten Runiverse“By integrating PIXEL into the Runiverse, we’re offering players the chance to engage with a proven token economy inside a new game,” Biosonic COO Shane Bierwith told Decrypt. “This not only adds immediate utility for PIXEL, but also strengthens our own ecosystem as we prepare to launch our native token, XP.”
The teams expect that the integration will not only enhance token utility for PIXEL, but also “offer valuable data to optimize player engagement and play-to-earn strategies.”
“Success, for us, comes down to the data,” said Barwikowski. “We’re all about using big data, AI, and predictive analytics to refine our play-to-earn models and boost reward efficiency.”
“Partnering with Forgotten Runiverse allows us to dive deep into player behavior, optimize our P2E systems, and ultimately improve retention and engagement,” he continued. “By building more insights through this partnership, we aim to develop strategies and data points that we can take to additional teams in the future.”
Bierwith too will be analyzing the data, telling Decrypt that Biosonic will measure “how effectively PIXEL drives repeat engagement, retention, and meaningful in-game spend,” including how many users swap Quanta into PIXEL and how it’s used in the game’s gacha-style rewards system called the Font of Memory.
To commemorate the collaboration, Runiverse-themed quests will launch in Pixels, plus a special Runiverse avatar will be available prior to the official launch of PIXEL in the fantasy MMORPG. That token integration is expected to take place sometime this quarter.
Barwikowski said that this integration with the Forgotten Runiverse team is “just the start.”
“The ultimate goal is to work together and bring Web3 into the mainstream,” he told Decrypt. “At Pixels, we’re committed to sharing our insights and tools to help other games scale and grow because collective progress helps us all in the long-term.”
Pixels has generated more than $20 million in revenue and boasts more than 10 million registered players, according to its team. PIXEL has already been integrated into not only the core Pixels game but also spinoff Pixel Dungeons, which launched in December.
Edited by Andrew Hayward
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Stacked is a new rewards app built by the Pixels team. Earn and track rewards across multiple games in one place!
Get AI-Powered Player Insights: Studios can use Stacked’s AI game economist to analyze cohorts, spot churn patterns, and suggest reward experiments worth running next.
How to use Stacked: it’s simple to get started for everyone!
Join Stacked Start Getting Rewards!
Welcome to Ronin, Stacked! For years, Web3 gaming rewards have faced a flurry of challenges: Bots, farmed quests, payout design challenges, impractical reward loops, and more. Pixels built Stacked to fix this.
Stacked is a new kind of rewards program. Play multiple games, complete missions, build streaks, earn rewards, and withdraw them from a single app. Behind the scenes, Stacked also provides studios with deep player insight including complex event tracking, precise targeting, reward logic, tight fraud controls, and automated payouts.
Stacked is easy for gamers to use. Download the app, play games, complete missions tailored to your playstyle, and claim your rewards. All in one place. Stacked aims to give players:
Real Games & Clear Rewards: No impossible hoops to jump through to get paid via fun games
A Unified Ecosystem: A single account to seamlessly track and claim everything across the platform
Diverse Reward Triggers: Moving beyond just raw playtime, Stacked rewards the behaviors that actually matter like in-game progression, daily consistency, content creation, team challenges, and referrals.
Strict Data Privacy: Personal data is never sold to third parties. All gameplay signals stay securely inside the Stacked system solely to improve your reward matching.
Stacked helps developers understand which behaviors to reward and why. It’s the infrastructure Pixels wishes they had from day one. Think of it like a LiveOps engine rather than a typical Web3 quest board. Once a studio integrates and begins feeding gameplay events into the app, Stacked takes the heavy lifting out of the economy by helping determine:
Who should receive a reward
What specific actions they are being rewarded for
When the reward should be triggered
What type of reward is most effective
The ultimate goal is precision: incentivizing the right behavior, for the right user, at the exact right moment. More importantly, it allows studios to measure whether those rewards actually moved the needle on core metrics like retention, revenue, or Lifetime Value (LTV). This transforms Stacked into a comprehensive system for running reward-driven LiveOps, fully equipped with granular controls for targeting, pricing, attribution, and preventing bot abuse.
Stacked features a powerful agent layer and AI game economist designed to help LiveOps teams move faster and make data-driven decisions. Instead of manually digging through raw data, developers will be able to ask the system complex economic questions, such as:
What are my most loyal users doing before Day 30?
What separates whales who retain from whales who churn?
What reward experiments should we run to improve Day 7 retention?
Based on prompts like these, the system can generate comprehensive reports, identify meaningful player cohorts, suggest LiveOps experiments, and help teams create new reward logic tied to the outcomes they actually care about. The Pixels team have already been testing it in games including Pixels, Pixel Dungeons, and Chubkins.
For Players: https://stacked.xyz
For Studios: https://stacked.xyz/business
The Pixels team will share more details as the rollout expands. For now, we’re excited to help them showcase what they’ve been building behind the scenes for the ecosystem.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
