Ronin to Reopen RON-ETH Bridge by the End of June
After an external exploit of its smart contracts where 630M was lost, Ronin will soon reopen the bridge.
Ronin has completed an audit of its RON-ETH bridge and will be relaunching the bridge soon. Ronin is widely known for its secure network, but its smart contracts were exploited, carting away about $630 million in value. Thus, in a partnership with Sky Mavis, it added extra validators to avoid another situation where attackers could fake an overwhelming number of signatures. It also had a thorough audit with Verichains before taking the Certik Audit.
In a tweet, Ronin said,
“We are happy to report that the Certik audit came back clean with minor suggestions. We are implementing Certik’s improvement recommendations and will begin to deploy the validator Governance Smart Contract. The Ronin Bridge is still on track for a reopening this month.”
This bridge has AXS and SLP versions on the Ethereum Network. Axie Infinity and Axie Origin games will now work totally on the Ronin. This repair will also bring a better reputation to Axie’s soon-to-be-released Origin.
Despite the news of this relaunch, the RON market price remained at $0.27, probably because the network was built too late to create its DeFi world and only had liquidity mining on the small Katana Exchange.
Axie Lands Gains Momentum
Axie plots of land are becoming more valuable, with a plot just less than $20 serving as a profitable resale or passive income. In addition, these lands are important sources of in-game resources through farming and mining.
Land staking is the next strategy from the game, and according to a tweet,
“It will be the first utility for the land plot of Axie Infinity after more than 2 years.”
Staking will pay out AXS, with outsized earnings for Genesis plots. The token is at $14.35, while SLP remains low, at $0.003. AXS can be staked directly and earn rewards similar to land plots, though these lands have additional building and gameplay opportunities.