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Sky Mavis’ formidable Ronin Network has taken a great stride forwards in its development process. As a result, those engaging with its ecosystem can now directly stake $RON tokens, and have a selection of top-class games to look forward to.
As part of the initiative, those holding $RON tokens can now stake them to help secure the network and earn generous rewards. Alongside this major milestone, Ronin has also unveiled a fleet of new P2E titles under development, as the platform gears towards becoming the ultimate launchpad for Web3 gaming.
In a short clip, Trung Nguyen, cofounder and CEO of Sky Mavis, the company behind Ronin, notes, “Today we are turning a new page of the Ronin network with a new Delegated Proof of Stake (DPoS) upgrade.”
1/ Times up… let’s do this. $RON Staking. Ronin Games. Wen?
NOW.
Full announcement 👇https://t.co/HxNe2kIKBN pic.twitter.com/X0NuXFUQ6V
— Ronin (@Ronin_Network) March 30, 2023
Staking is a mechanism used by Proof of Stake (PoS) protocols to secure networks. Token holders will commit their tokens to win the right to validate transactions through nodes and get rewarded with more tokens. Due to its fast and energy-efficient nature, it has gained traction with the latest generation of blockchain networks.
Since the launch of the Ronin mainnet back in February 2021, the only way users could earn $RON tokens was through farming and by using in-game resources in Axie Infinity.
Now “everyone has a choice: delegate your tokens to any of the 22 validators based on their contributions to the community, uptime, and commission rate. The amount of RON you earn depends on how much you stake and the validator you choose.”
The network boasts 22 independent network validators, including the likes of Nansen, Delphi Digital, and Animoca Brands. These were onboarded last year as a way to bolster security through a distributed network after Ronin suffered a major breach. However, many won’t appear until Ronin officially launches the rewards feature on April 12.
Get staking that delicious $RON >> Here
Ronin Aims To Expand its P2E Gaming Initiative
In its early days, Ronin was born out of necessity, Sky Mavis had launched Axie Infinity, the popular play-to-earn (P2E) game, on Ethereum, but its uptake was limited by high gas fees and network congestion. As a result, the team developed its own in-house dedicated sidechain that made Web3 game development efficient.
After many months of hard work, Ronin is ready to onboard new game studios to its ecosystem. Other than Axie Infinity, gamers can expect to see a number of top quality titles arrive on the platform. Among the first, players will find: The Machines Arena, an explosive, cross-platform, team based shooter developed by Directive Games, where gamers compete in a range of futuristic scenarios. Tribesters: Island of Solas, an immersive story driven game from Tribes Studio that allows its players to influence the narrative. Axie champions, an Axie Infinity inspired puzzleer from Bali Games, and Bowled.io, an engaging Cricket themed title that will allow the network to tap into the sport’s 2.5 million fans.
So, with so much to look forward to, the Ronin Network has positioned itself to become one of the greatest gaming blockchains in the industry.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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