AxieInfinity’s Ronin Network Launches RON Pledge Function

03/30/2023 10:28 • Crypto & Markets • 64 views

On March 30, the AxieInfinity side chain Ronin Network officially announced that the RON pledge function has been launched, and the pledge award will take effect on April 12. In addition, to celebrate the launch of the RON Pledge, Ronin Network announced the first batch of Ronin based game studio partners, including DirectiveGames, DirectiveGames, BaliGames, Bowled.io, and SkyVu.

RoninNetwork has launched the RON pledge function and announced the first batch of game studio partners

On March 30, the AxieInfinity side chain Ronin Network officially announced that the RON pledge function has been launched, and the pledge award will take effect on April 12. This launch will have a significant impact on the AxieInfinity gaming experience and the overall Ethereum (ETH) ecosystem.
Here is everything you need to know about the Ronin Network’s RON pledge function.

What is the RON Pledge Function?

The RON pledge function is a staking mechanism introduced by the Ronin Network to make its operations more secure and efficient. The Ronin Network is a side chain for the popular game AxieInfinity built on the Ethereum network, which means that it relies on the Ethereum network for security and consensus.
With the RON pledge function, users can stake their RON tokens on the Ronin Network to validate transactions and create new blocks. In return, users who stake RON tokens earn rewards in the form of a share of transaction fees generated by the network.

How Does the RON Pledge Function Benefit Users?

The RON pledge function benefits users in several ways. First, it rewards users who stake their RON tokens, creating an incentive to contribute to the network’s security and efficiency. Second, it helps to prevent attacks on the network by requiring attackers to stake a significant amount of RON tokens to launch an attack, making attacks more expensive and less profitable. Finally, it drives demand for RON tokens, potentially increasing their value and providing additional benefits to token holders.

What Are the Requirements for Participating in the RON Pledge Function?

To participate in the RON pledge function, users must have a compatible wallet that supports Ronin, such as MetaMask or Nifty Wallet. Users must also have RON tokens to stake, which can be obtained by purchasing them on a cryptocurrency exchange that supports RON or by trading other cryptocurrencies for RON on a supported decentralized exchange.

Ronin Network’s Game Studio Partners

In addition to launching the RON pledge function, Ronin Network announced the first batch of Ronin-based game studio partners to celebrate the launch. These partners include DirectiveGames, BaliGames, Bowled.io, and SkyVu.
These partnerships will provide a valuable network effect for the Ronin Network and increase the demand for RON tokens. Additionally, by building games on the Ronin Network, these studios will contribute to the growth and development of the Ethereum ecosystem.

Conclusion

The Ronin Network’s launch of the RON pledge function and the announcement of game studio partners is a significant development for the AxieInfinity gaming experience and the overall Ethereum ecosystem. By introducing a staking mechanism, the Ronin Network incentivizes its users to contribute to the network’s security and efficiency while providing rewards for staking RON tokens. The partnerships with game studios show the potential for the Ronin Network to expand its reach and contribute to the growth and development of the Ethereum ecosystem.

FAQs

1. What is the Ronin Network?
The Ronin Network is a side chain for the popular game AxieInfinity built on the Ethereum network. It provides faster and cheaper transactions for the game and increases its scalability.
2. How do I stake RON tokens on the Ronin Network?
To stake RON tokens, users must have a compatible wallet that supports Ronin, such as MetaMask or Nifty Wallet. Users must also have RON tokens to stake, which can be obtained by purchasing them on a cryptocurrency exchange that supports RON or by trading other cryptocurrencies for RON on a supported decentralized exchange.
3. How do I earn rewards from staking RON tokens?
Users who stake RON tokens earn rewards in the form of a share of transaction fees generated by the network. These rewards are distributed proportionally to the amount of RON tokens staked by each user.

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