YGG and Coins.ph Partner for Faster, Cheaper Transfers to Axie’s Ronin Blockchain

Editing by Michael Mislos

• YGG and Coins.ph announced a partnership that is expected to allow $YGG owners to have a “faster, easier, and cheaper” transfer process to the Ronin network.
• In a statement, both the guild and the exchange emphasized that the partnership seeks to bring benefit to the 92,700 members of YGG Pilipinas. 
• According to Coins.ph, $YGG owners will be able to avoid a long double-bridging process by using its in-app Ronin integration.

Holders of $YGG, Yield Guild Games’ native token, can now transfer the token to Ronin Network through Coins.ph, the web3 gaming guild announced. 

The partnership between YGG and Coins.ph is expected to allow $YGG owners to have a “faster, easier, and cheaper” transfer process to the Ronin network, especially since the gaming-focused blockchain now supports the guild’s native token. (Read more: Yield Guild Games ($YGG) Token Launches on Ronin with Airdrop for Validators)

Coins.ph, YGG Partnership to Benefit GAP Participants

In a statement, both the guild and the exchange emphasized that the partnership seeks to bring benefit to the 92,700 members of YGG Pilipinas, the YGG community in the country. 

It is because YGG is known for its Guild Advancement Program (GAP), which is a campaign that aims to help its guild members build a resume by allowing them to receive rewards that make contributions to the YGG ecosystem. Rewards include $YGG and badges that are minted as NFTs. 

The Problem of Double Bridging

As the $YGG token rewards are minted on Polygon blockchain, moving an asset from one network to another can have too much friction and require too much work. 

For more context, a $YGG owner, to be able to transfer their asset from Ploygon to Ronin, needs to: 

• Step 1: Transfer the asset to the Ethereum network using a Polygon bridge.
  • Estimated gas fee: ₱1,600
  • Estimated transaction speed: 45 minutes
• Step 2: Bridge the asset from the Ethereum network to Ronin.
  • Estimated gas fee: ₱165

This process is called “double bridging,” which uses two bridges and three networks to be able to transfer an asset. 

How the Coins and YGG Partnership will Help

This process will be avoided by Filipino gamers because of the partnership between YGG and Ronin.

Players will now have the ability to transfer their YGG tokens to Coins.ph directly via the Polygon network, and then from there to their Ronin wallet using the Coins.ph Ronin integration. This approach circumvents the lengthy delays and high gas fees typically associated with such transactions previously.

“Our community has been contributing their skills and passion to the Ronin ecosystem since the early days, and this partnership with Coins.ph allows our players to gain better access to the ecosystem and participate in it more meaningfully. We are very happy to have the support of Coins.ph as we continue to create more opportunities for Filipinos across the country.”

Mench Dizon, Country Head, YGG Pilipinas

Future Plans

Aside from the promise of a seamless transaction, the partnership also pledged to create events and promotions for Coins.ph users who will deposit and hold $YGG. 

Here are the plans and events that the partnership is expected to produce according to a media release: 

• Rewards program for those who will hold $YGG on Coins.ph for a month. 
• A trading competition for $YGG holders on Coins.ph. 
• A trading competition for VIPs. 
• Discounted gas fees for Ronin withdrawals. 
• An airdrop campaign. 

Note: Rewards include $YGG and Coins.ph merchandise. 

“Activity from web3 gamers in the Philippines has been steadily increasing since the start of 2024. For the past three years, the Philippines has been the country with the [greatest web3 gaming interest, according to CoinGecko,” the entities involved concluded. 

“Many Filipino web3 gamers play games such as Axie Infinity and Pixels, which are on the Ronin network. As reported by the aforementioned games, and 30% of the Pixels population come from the Philippines. This partnership between YGG and Coins.ph has been designed to directly address the concerns of the Filipino player base.”

This article is published on BitPinas: YGG and Coins.ph Partner for Faster, Cheaper Transfers to Axie’s Ronin Blockchain

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