Ron's Network Q3 2024

Ronin is a Layer-1 blockchain developed by Sky Mavis to address scalability challenges in Web3 gaming ecosystems, particularly for Axie Infinity.

Key Takeaways from Ronin Network’s Performance in Q3 2024:

DeFi Total Value Locked (TVL) increased by 149% YoY, reaching $147 million, primarily driven by a 30% rise in the RON price and broader ecosystem adoption throughout the year.

DeFi Total Value Locked (TVL) increased by 149% YoY, reaching $147 million, primarily driven by a 30% rise in the RON price and broader ecosystem adoption throughout the year.

Katana DEX continues to dominate the Ronin DeFi landscape, accounting for an impressive 99% of the total DeFi TVL on the network.

Katana DEX continues to dominate the Ronin DeFi landscape, accounting for an impressive 99% of the total DeFi TVL on the network.

NFT sales volume on Ronin experienced a 37% YoY growth, reaching $7.6 million, despite a decline in activity. This increase was largely driven by higher-value transactions in the ecosystem.

Active addresses on Ronin grew by 23% QoQ, reaching 1.5 million. This increase was supported by the onboarding of several new games onto the network, including Ragnarok: Monster World and Forgotten Runiverse.

Ronin Network saw several infrastructure upgrades, including the launch of the Waypoint wallet and improvements to the Ronin bridge, which enhanced user accessibility and interoperability.

Ronin Network saw several infrastructure upgrades, including the launch of the Waypoint wallet and improvements to the Ronin bridge, which enhanced user accessibility and interoperability.

The ecosystem expanded further with the Forge Program and partnerships, introducing seven new games onto the platform.

The ecosystem expanded further with the Forge Program and partnerships, introducing seven new games onto the platform.

Ronin governance also saw updates, including the implementation of Rotating Validators and bridge upgrades, which aimed to enhance decentralization and security.