Hola readers! Welcome to the monthly dose of PolygonInsights. As per coingecko, we crossed $6.5 Bn (+14%) in Mcap, the highest since April’22. A new version of Polygon Wallet Suite launched, and Plonky2 and Starky were open-sourced.
Let’s dive in.
Once again, Polygon closed in green last month, growing its user base by a solid 7% to a total of 2.41 Million. The growth was primarily driven by a surge in users across DeFi protocols. In fact, half of the Top 10 dApps were DeFi.
POSDuck, a platform turning NFTs into stakeable assets, emerged as one of the best performing dApps under the Top 10 list for the first time, after increasing its userbase by 366% to 111k and processing 115k transactions (+359%). Till now the platform has sold 350+ NFTs, with a total sales volume of ~$16k.
QuickSwap (124k, +24%) maintained its position on top of the table. MM Finance, a popular AMM & DEX, deployed on Polygon in August and has been making headlines for its performance ever since. It has entered the Top 15 DeFi protocols, adding 12k users and processing 722k transactions.
Ultimate Champions, a free-to-play fantasy football game, once again surfaced as one of the biggest userbase gainers (35k, +260%) owing to the start of the Premier League in the UK. They have already partnered with Arsenal FC and will likely add new top-flight clubs, attracting more fans.
Benji Bananas, a F2P game by Animoca Brands, deployed on Polygon in August and has surpassed 120k all-time users and processed 189k+ transactions.
August recorded the highest sales volume ($1.97 Bn, +443%) since March’22, bolstered by the NFT drops in the past month. With nearly 30 million mints, August had the highest mint events and NFT transactions on Polygon since November 2021.
Polygon saw an increase in inflow volume for the second month in a row, with a 126% increase in net volume compared to the previous month to reach $10.23 Bn total net volume across major bridges. Over 81k inflow transactions across bridges saw an average trade size of $9.9k across nearly 300 separate tokens.
The Polygon PoS Bridge continues to be among the Top 10 dApps on Ethereum by user count, with Ethereum leading the inflow charts - $651 Mn ($244 Mn net).
Binance to Polygon net volume saw a 3000% increase month-over-month, Arbitrum One grew by 210% and Fantom Opera recorded a 140% net increase. In terms of tokens, USDC leads the way as the most bridged token with a net volume of $210 Mn (+1013%).
For in-depth weekly analysis threads, view our Analytics resources on GitHub.
The number of Active wallets trended upward, hitting a new all-time-high in Q4 of 11 Mn+, an increase of 115% relative to last year's Q4, and the total active wallets reached 206 Mn (+58% from 2021). While the transaction volume of major chains dropped significantly in the second half of the year, the Polygon network...
Key takeaways: Weekly active wallets surged to 1.37 Mn (+13%) in the week of Dec. 12 driven by an increase in activity across DeFi dApps -- Uniswap V3 (35.2k, +41%), Sushiswap (35.3k, +542%), 1inch (32k, +54%), Klimadao (30.7k, +8,123%), and Zerox (0x) (17.4k, +464%). NFT Volume is back up after dropping slightly last week, reaching...
At Polygon companies, we are on a relentless pursuit of mass adoption for public blockchains, creating an infrastructure so essential that access to it will be considered a basic human right. In 2022, our grit, humility and constant focus on building are showing traction. We owe that in large part to the Polygon community: the...