Ronin is being redefined as an Ethereum L2 for games with PoD rewards, but value capture depends on treasury and operating transparency.
Investment View
The key watchpoint is whether Ronin's rewards for app activity convert into user retention and RON demand, with clear L2 authority disclosure.
Ronin is in a late growth stage at 64 points, with a strong L2 shift and low inflation, while revenue and user retention still limit maturity.
Investment View
Ronin has restarted as Ethereum L2 gaming infrastructure, but its maturity narrative needs PoD to create real game demand and revenue.