Are you missing Ragnarok Online? Well.. Surprise!
Project R1 was made public last May 2011 by Hangame EX. Recently, It was unveiled that the official name of the game is Tree of Savior. The highly-anticipated game will be in 2.5D with endearing characters and maybe similar mechanics like doing quests and other similar functions to an RPG game.
The game is still under development and has no definite time to enter beta testing. Rumors said that they'll have it's CBT this year. No futher details was given but we'll update you on this game!
For me, I think this game has more appeal and feeling of the first franchise of Ragnarok Online compared to the recently released Ragnarok Online 2.