Ronin Network Started To Distribute Staking Rewards With APR Up To 33%
- Ronin Network stated that the DPoS update was completed, and RON awards have started to flow to stakeholders.
- Around 100 million RON have already been staked, as well as 9,000 delegators and 22 validators.
- The Ronin previously announced support for RON.
Ronin Network announced that it has successfully upgraded to the DPoS consensus mechanism and has begun to issue staking rewards.
According to the official website data, the number of RON staked tokens has exceeded 100 million, and there are more than 9,000 delegators and 22 verification nodes. The APR for RON staking is between 20-33%.
Just last month, Ronin Network marked a return to allowing RON staking. RON staking lets token holders actively engage in the Ronin Network’s upkeep while reaping the rewards. The firm also emphasizes that all of the other games are still in development and have not yet opened for token sales or NFTs, so the community should be on the lookout for fraud.
Staking is a method in which users lock up their tokens to help safeguard the network in exchange for incentives. Those who invest in RON may receive a percentage of the network’s transaction fees. The more RON they invest, the more prizes they may get.
Prior to this new rollout, players could only earn RON via farming and using in-game resources such as Axie Infinity features. Ronin Network has now invited its members to stake their tokens in order to safeguard the network.
Sky Mavis, the company behind Axie Infinity, claims it is redesigning Ronin’s basic technologies to make the network more decentralized and less prone to the types of single points of failure that killed it last year, almost precisely a year to the day after the Ronin breach made national news.
Staking on the Ronin Network is a step toward a more decentralized and community-driven gaming environment. Ronin Network is primed for growth and success in the gaming industry as more game developers build on the platform and more users participate in staking.
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