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- Ronin Network surpasses 205 million staked RON with over 290,000 delegators.
- Validators and delegators share rewards, enhancing Ronin’s security and participation.
Ronin Network stated in a recent tweet that the total amount of RON staked has topped 205 million, with over 290,000 delegators holding it. This critical milestone demonstrates rising confidence and involvement in the Ronin ecosystem.
Total $RON staked has crossed 205 Million and is held by more than 290k delegators, are you one of them?💪
To learn about $RON staking click the link below 👇
🔗: https://t.co/eNxwmtoqfX pic.twitter.com/dl86Tm43Wx
— Ronin (@Ronin_Network) July 18, 2024
Staking RON: Rewards and Validator Participation
Token holders on the Ronin Network stake their RON to participate in validator elections and earn rewards for their efforts. Ronin has set aside 180 million RON for staking rewards, encouraging users to contribute to the network’s security and usefulness.
When a delegator stakes RON with a validator, they earn staking incentives proportionate to the amount staked and the validator’s commission rate. The lowest daily balance for delegators determines their awards.
This means that if a delegator stakes their tokens for the first time, they will not receive any incentives for the day because their lowest balance is zero. This technique provides an equitable allocation of incentives based on consistent engagement.
Validators, in turn, are compensated with block rewards for their work to secure the Ronin chain. These incentives are divided into two categories: staking rewards and transaction fees. Validators provide these staking rewards and transaction fees to their delegators, or token holders that stake their RON with them.
This mutually beneficial connection between validators and delegators ensures that both sides profit from the network’s expansion and stability.
As we previously reported, Ronin Network’s RON coin is outperforming other major cryptocurrencies due to key game migrations. However, at the time of writing, RON was trading around $2.24, down 4.89% over the last 24 hours following a strong week that witnessed gains of more than 17%.
On the other hand, Sky Mavis, the firm behind Ronin, has revealed their incredible journey over the past few days.
One of the most important announcements was the launch of PHPC on the Ronin Network, which allows for rapid and low-cost on-chain peso transactions. This change is likely to boost the network’s use and appeal, especially in areas where peso transactions are common.