🎮 Ronin Network: From Axie Infinity to Permissionless & zkEVM – Update 06/2024 to 07/2025!
(Data updated as of 07/2025 – Not investment advice)
1/🧵 Overview & current position
EVM-compatible Layer-1 aimed at gaming (Axie, Pixels, Lumiterra…), built by Sky Mavis since 01/2021. Transitioned from PoA to DPoS, recently added zkEVM layer via Polygon CDK to expand permissionless and the ability to create separate layer 2 networks on Ronin.
2/ Key milestones 06/2024–07/2025
- 06/2024: update 'Goda Upgrade' (Trippp + Aaron hard-fork) increases decentralization, integrates zkEVM planned for Q1/2025.
- Q3/2024: DeFi TVL reached $147M (~+149% YoY), active addresses ~1.5M, fees and UX improved thanks to Waypoint Wallet & bridge upgrades.
- 11/2024: DAU increased +93% → 1.25M, bridge TVL ~$230M, RON stakers 484k+; Ronin ranked 3rd most-used chain globally.
- 02/2025: opened permissionless, daily new contracts increased from ~3 to ~35/day (+1,113%).
- 07/03/2025: preparing for the 'Feather Fan Upgrade' with the Kotaro hard fork & EIP‑7702 (batching TX & smart wallet support).
- 07/04–06/2025: organizing ETHGlobal Cannes hackathon, grant up to $300k per project, focusing on GameFi, SocialFi, AI on Ronin.
3/ TVL, users & DeFi
Q1/2025: native TVL increased by +30% QoQ to 93.2M RON, USD-TVL decreased by 53% to $64.7M due to RON price dropping from $1.94 to $0.69.
Q3/2024: DeFi TVL $147M, holding 99% on Katana DEX; NFT volume ~ $7.6M YoY, game users increased significantly.
11/2024: bridge TVL ~$230M; total network tx ~32M/month; DAU reached 1.25M, ranking among the top 3 most popular blockchains.
4/ RON Token & Tokenomics
- Q1/2025: Marketcap decreased from $725M to $430M (-40.6%), circulating supply increased by 65% (374M to 619M) due to token unlock migration.
- Price $RONIN : reached ~$0.69 at the end of Q1/2025 (down from $1.94 Q4/2024). Temporarily bottomed at $0.392 (06/2025)
RON holders decreased from 252k to 89k, but bridge users increased by +35.9% (9k to 12.2k).
5/ Dev activity & Ecosystem
- Permissionless opened in 02/2025: daily new contracts ~35.5/day (+1,113%)—only in the early phase permissioned reached ~2.9/day.
- Added SDK, tools from Tenderly, Alchemy, Blockaid… increasing dev stack (Feb 2025).
- $10M grants (Operation Leviosa) in January 2025, supporting builders with funding of $20k–$300k/project.
6/ Collaboration & integration
- Integrating Chainlink CCIP for cross-chain; Transak supports fiat on-ramp (including USDC, WETH, SLP).
- New games & platforms like Forkast (prediction), Kuroro Beasts (gaming alpha Q1’25), Jin’s Fortune Spin, Ragnarok Landverse (Genesis) create waves in NFT & GameFi|Fiat→Crypto convenience.
7/ Opportunities & challenges
✅ Permissionless + zkEVM = scale & open → new dev increase.
✅ Grant + toolchain support: sustainable development momentum.
⚠️ Tokenomics: large unlock, price plummeting ~64% QoQ.
⚠️ DeFi TVL USD decreased, but native RON increased while diversifying the GameFi sector.
8/ Conclusion & prospects
Ronin evolved from a curated gaming chain to a permissionless, zk-enabled L1/L2 ecosystem with sufficient scale and developer appeal. Core factors include grants, upgraded dev stack, cross-chain collaborations, and permissionless policies. Q3/2025 with the Feather Fan Upgrade promises additional smart wallet & batching capabilities, directing the Ronin template towards web3 gaming + social + DeFi, laying the foundation for strong expectations of 'phase 2' development.
#RoninNetwork #GameFi #zkEVM #Permissionless #defi #NFT #FeatherFan #SkyMavis #Axie #BlockchainGaming
(Evaluation based on data until 07/2025. Not investment advice.)
