Optimism scores $5M+ Ronin deal for L2 tech
Optimism has secured a significant deal with Ronin, a gaming-focused blockchain, worth over $5 million, allowing Ronin to transition from an Ethereum sidechain to a full Ethereum Layer 2 (L2) solution. This decision followed competitive bids from other major L2 providers including Arbitrum, Polygon, and zkSync. Ronin's co-founder, Jeffrey Zirlin, emphasized the upgrade would introduce Proof of Distribution, promoting enhanced rewards for builders. The agreement consists of 5 million OP tokens tied to revenue targets, beginning with 500,000 OP tokens upfront. Joining various other chains using Optimism's codebase, Ronin, with a total value locked (TVL) of approximately $54 million, could gain from associations within the larger ecosystem of Optimism’s other users, such as Base, which boasts a much higher TVL of over $4.7 billion. Although the gaming sector appears subdued currently, Ronin's collaboration with Optimism, backed by a successful gaming team, is seen as a promising development for both entities in the long run.
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