- The Ronin community reacted positively to the announcement. According to data from Crypto Slam, the volume of NFT sales has increased by more than 400%.
- Axie is the most popular NFT game of all time, with 2.2 million monthly active players. Except for Ethereum, Ronin has processed 3x more NFT trading volume than any other chains combined. Axie’s growth in the NFT gaming market is likely to be aided significantly by finance and enhanced security measures.
- Sky Mavis’ Ronin and Axie DAO validator nodes were hacked on March 23. In two transactions, the hack resulted in the loss of 173,600 ETH and 25.5 million USDC from the Ronin blockchain.
Sky Mavis preparing reimbursement through $150 million fundraising round: Ronin hack Sky Mavis has confirmed that the $600 million that occurred on March 23 will be reimbursed to all victims. Binance has stated that it will lead the initial $150 million fundraising round, which will also include Animoca Brands, a16z, Dialectic, Paradigm, and Accel. Sky Mavis’ Ronin and Axie DAO validator nodes were hacked on March 23. In two transactions, the hack resulted in the loss of 173,600 ETH and 25.5 million USDC from the Ronin blockchain (1 and 2).
Whatever More Is There To Say
The fresh round of funding, together with the Sky Mavis balance sheet, should be enough to cover the whole sum taken. Sky Mavis also revealed some of the new security procedures that will be implemented. To boost threat aversion, the number of validators for a transaction is increased from 5 to 21. Sky Mavis CEO Trung Nguyen stated that it is dedicated to reimbursing all lost payments and putting in place stringent internal security measures to avoid repeat intrusions.
What Was The Reaction Of The Community
Binance is supporting the Ronin Network by allowing Axie Infinity users to withdraw and deposit Ether, according to BloombergQuint. The Ronin bridge is anticipated to reopen after a security upgrade and many audits, which might take several weeks. The Ronin community reacted positively to the announcement. According to data from Crypto Slam, the volume of NFT sales has increased by more than 400% (as of press time).
Despite the loss, Axie has maintained its dominance in the NFT gaming industry. They presented a few brief data to demonstrate their market dominance. Axie has handled ten times the volume of the second-largest NFT game. Axie is the most popular NFT game of all time, with 2.2 million monthly active players. Except for Ethereum, Ronin has processed 3x more NFT trading volume than any other chains combined. Axie’s growth in the NFT gaming market is likely to be aided significantly by finance and enhanced security measures.
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Source: https://www.thecoinrepublic.com/2022/04/10/sky-mavis-plans-reimbursement-via-a-150-million-financing-phase-thanks-to-a-ronin-breach/