Update README.md

Reference: kubeflow/community#685
kubeflow · Jan 12, 2024 · fdafb45 · fdafb45
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-# model-registry
+# Model Registry
+Model registry provides a central repository for model developers to store and manage models, versions, and artifacts metadata. A Go-based application that leverages [ml_metadata](https://github.com/google/ml-metadata/) project under the hood.
+
+## Red Hat's Pledge
+- Red Hat drives the project's development through Open Source principles, ensuring transparency, sustainability, and community ownership.
+- Red Hat values the Kubeflow community and commits to providing a minimum of 12 months' notice before ending project maintenance after the initial release.