Studies on the dynamics of holographic pattern formation in photosensitive polymers, gaining deeper insight into the specific material transformations, are essential for improvements in holographic recording as well as in integrated optics. Here we investigate the kinetics of volume hologram formation in an organic cationic ring-opening polymerization system. The time evolution of the grating strength and the grating phase is presented. We found two steps of growth, separated by a depletion of the light diffraction. Capable to explore this growing behavior, a transition-theory of the refractive index contrast is established. Accordingly the growth curves appear to be ruled by the interplay of polymerization and diffusion. Hence the grating formation mechanisms can be qualified as competing effects regarding the contribution to the refractive index change. We investigate the influence of the preparation and exposure procedure on the transition and consider the usability for integrated wave guide functions.