Part 1: Polygon PoS engagement growth
Last week, daily active users (DAU) dropped for the first time in almost two months (-6.67%). This week user growth stabilized, dropping only -0.68%.
Despite the drop, this week was the fourth highest on record. As of 8/25/2021, Polygon has 29.14% of Ethereum’s DAU, and 15.18% of Binance Smart Chain’s.
We see new accounts are growing at a fantastic pace.
Each week, Polygon gains massive adoption. In fact, the last month has seen an incredible uptick in new users. This last week, almost 150,000 new addresses interacted with Polygon for the first time.
So why is DAU growth stalling?
The answer is in the retention data.
While the latest cohorts have been massive, they haven’t re-engaged with Polygon at the same level as earlier cohorts have.
For the last three weeks, record low retention rates have been posted, canceling out the benefits the droves of new users bring.
Finally, while nominal amounts of DAU have leveled out for now, total transactions continue to rise for the second straight week. Polygon PoS had 4.25x transactions of $ETH and 66.5% of $BSC.
Part 2: Polygon POS monetization growth
The increased number of transactions helped Polygon post its second-highest revenues in USD terms.
Week 33 saw daily revenues averaging $32,199.
Even more impressive, this increase in revenue came from lower costs per transaction overall. Week 33 average cost per transaction was 11.5% lower than week 32, coming in at an average cost of $0.0061676.
Summary
We’ve seen the impacts of lower transaction costs on dapp usage across our ecosystem.
Most recently we published a study comparing and contrasting usage statistics on Aave’s V2 and Polygon markets.
We found that since the Polygon market has launched, it had 15.91x the transactions as V2 and saved Aave users a total of $41,739,681 in transaction fees (from 3/31/2021–8/24/2021)
Further, lower transaction costs on Polygon created more overall users as well. In total, 68,490 unique users interacted with Polygon markets compared to 30,071 that interacted with V2 markets.
This is a weekly series on Polygon user engagement, retention, and monetization. Follow along to see how Polygon is transforming blockchain use.
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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