The Ronin Network is a blockchain ecosystem developed specifically for gaming applications. The network is known from the famous web3 game Axie Infinity, however, it currently houses trailblazing games such as Pixels, which recently held a 20M $PIXEL token airdrop for $RON stakers, Wild Forest, The Machines Arena, and more. Though not confirmed, users are speculating that more airdrops and rewards are to come to those who staking tokens in the Ronin Ecosystem.
One of its core features is the ability to stake $RON tokens, which not only supports the network’s security and efficiency but also rewards the stakers. This guide will walk you through the process of staking $RON tokens on the Ronin Network, from creating a Ronin Wallet to managing your staked tokens.
Creating a Ronin Wallet
Step 1: Install and Set Up Your Wallet
The first step to staking $RON tokens is to create a Ronin Wallet. Navigate to the Ronin Wallet’s official website and download the wallet extension for your browser. The Ronin Wallet is available for Chrome, Firefox, and other major browsers.
After installing the extension, click on the Ronin Wallet icon in your browser’s extension area to set up your wallet. You’ll be prompted to create a new wallet or import an existing one. Follow the on-screen instructions to set up your new wallet, making sure to securely store your recovery phrase.
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For more detailed instructions you can follow our dedicated tutorial on how to create and set up your Ronin wallet.
Purchasing $RON Tokens
Step 2: Fund Your Wallet with $RON Tokens
Before you can stake $RON tokens, you first need to acquire them. There are several ways to purchase $RON tokens:
- Directly Through Ronin Wallet: You can buy $RON tokens using a credit or debit card directly within the Ronin Wallet. This is a straightforward method for those looking for convenience.
- From Cryptocurrency Exchanges: Platforms like Binance and Coinbase offer $RON tokens for purchase. You can buy them with fiat currency or exchange them for other cryptocurrencies.
- Exchange Bridged ETH: If you have ETH in a wallet that’s been bridged to the Ronin Network, you can exchange this ETH for $RON tokens directly within the Ronin ecosystem.
Staking Your $RON Tokens
Step 3: Go To Ronin’s Staking Page
With your Ronin Wallet set up, navigate to the Ronin Network’s official staking page. You can find the link to the staking portal on the Ronin Wallet dashboard or by searching for “Ronin Network staking” in your preferred search engine.
Step 4: Select a Validator
In the staking portal, you’ll see a list of validators. It’s recommended to choose a Governing Validator, identifiable by a green checkmark next to their name. These validators have been vetted and are considered more reliable and secure.
Step 5: Delegate Tokens
Once you’ve selected a validator, click the blue “Delegate” button located under their name. Enter the amount of $RON tokens you wish to stake in the provided field and click “Delegate” to confirm your action. A transaction prompt will appear in your Ronin Wallet, requiring your confirmation to proceed. Review the details and confirm the transaction to delegate your tokens.
Managing Your Staking Activity
Step 6: View Your Staking Activity
After successfully staking your $RON tokens, you can manage all your staking activities through the Ronin Network’s staking portal. Here, you’ll be able to view your staked tokens, claim rewards, and perform other actions like moving or withdrawing your stake.
Conclusion
Congratulations! You’ve successfully staked your $RON tokens on the Ronin Network. Staking not only contributes to the security and efficiency of the network but also rewards you for your participation. Remember to regularly check your staking dashboard for updates on your rewards and to manage your staked tokens. Happy staking, and may your contributions bolster the Ronin Network’s thriving ecosystem.
