How to do your Ronin taxes with Koinly
The Ronin Network is a high-speed, low-fee Ethereum sidechain built by Sky Mavis to power blockchain-based games and NFT transactions, most notably Axie Infinity. But if you have RON transactions, you might have a tax bill. Koinly can help, here's how.
Follow these steps to sync your Ronin (RON) data automatically to Koinly:
- Open your Ronin (RON) wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Ronin (RON) in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Staking and unstaking transactions need to be tagged manually
- Only the most recent 10,000 transactions can be imported. If you have more than 10,000 transactions in your wallet then you will need to use CSV files
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
FAQs
What is Ronin?
The Ronin Network is a blockchain developed by Sky Mavis, designed as a high-speed, low-fee Ethereum sidechain tailored for NFT-based games like Axie Infinity. It uses a Proof-of-Authority consensus for efficiency, enabling fast transactions and reduced costs, ideal for gaming environments. The network features the Ronin Bridge for transferring assets between Ethereum and Ronin, though it faced a major security breach in 2022. Its native token, RON, is used for transaction fees and governance. Overall, Ronin offers a scalable and game-friendly alternative to Ethereumâs mainnet.
Is Ronin safe?
Ronin is generally considered safe today, especially after major security upgrades following the 2022 hack that exploited its bridge and led to over $600 million in losses. Since then, the network has improved its validator system, added more security layers, and reimbursed affected users. However, Ronin still uses a Proof-of-Authority model, which, while fast and efficient, is more centralized and potentially vulnerable compared to other consensus mechanisms.
Does Ronin provide tax documents?
No, but you can use a crypto tax calculator like Koinly to track your gains, losses, and income from Ronin and generate tax reports. Simply add your Ronin wallet address, and Koinly will automatically import your transaction data.
