Ronin Network Launches RON Staking and Unveils 5 New Gaming Projects
Ronin Network is making a comeback with exciting news: the launch of RON staking and the announcement of five new gaming projects developed on this sidechain.
RON Staking Now Available
On March 30, Ronin Network (RON), the sidechain developed by Axie Infinity on Ethereum, announced the introduction of staking for its native token, RON. This feature has been highly anticipated since RON's release in early 2022, which until now had only been used for transaction fees and farming.
The ability to stake RON will further decentralize the sidechain, allowing users to delegate their tokens to 22 network validators to help validate transactions. Staking rewards for RON will be unlocked on April 12.
1/ Times up… let’s do this. $RON Staking. Ronin Games. Wen?
— Ronin (@Ronin_Network) March 30, 2023
NOW.
Full announcement 👇https://t.co/HxNe2kIKBN pic.twitter.com/X0NuXFUQ6V
Five New Gaming Projects Announced
In conjunction with this announcement, Ronin revealed five gaming studios developing games on the Ronin sidechain:
- Directive Games with The Machines Arena: A new third-person shooter with futuristic elements.
- Tribes Studio with Tribesters: Island of the Solas: An online multiplayer game set in a tribal island environment.
- Bali Games with Axie Match3: A match-three game utilizing resources from Axie Infinity.
- Bowled.io with Bowled: A bowling game.
- SkyVu with Battle Bears Heroes: A MOBA inspired by the popular Battle Bears franchise.
Ronin cautions that all these games are still in development and have not yet launched any tokens or NFTs, advising the community to be wary of potential scams.
A Significant Anniversary
Notably, the announcement of staking and new projects coincides with the one-year anniversary of the Ronin bridge hack, which saw over $620 million in cryptocurrency stolen—a record-breaking hack in the crypto industry's history.
In response, Axie Infinity undertook measures to compensate affected users, reopened the Ronin bridge, released a new version of the game called "Origin," organized the AxieCon global community conference, and introduced land NFTs to build the game’s virtual universe.
Since the start of March, the RON token has seen a 37% increase from $0.80 to $1.10, although it has recently declined following the news of Ronin Network's new staking feature.
RON Price Fluctuations
Chart of RON price fluctuations over the past 7 days, screenshot from CoinMarketCap at 6:45 PM on March 30, 2023.
