Say I have the artifact equipped to a creature and it's my opponents turn and he casts say murder or a 'destroy target creature'
Since its his turn would that mean me paying 2 to make my creature hex proof would be useless as he is first on the stack?
Well the stack resolves backwards, so in response to him casting murder, you could make it hex proof since activated abilities activate at instant speed murder wouldnt have a valid target and resolve as such. Right?
No, from my understanding, murder would be played and you could pay the 2 in response and cause murder o fizzle.
Thats pretty much the whole point of the ring. In response to the creature being targeted, give it hexproof and BAM! Not a legal target fizzle sucka!
Ok sweet