PolygonInsights for Q3 2022

Polygon was the only blockchain chosen to be a part of the Disney Accelerator program, we are now home to tens of thousands of dApps, Starbucks Coffee Company is working with Polygon to provide the blockchain technology to build its recently announced Web3 experience, Starbucks Odyssey, and Robinhood has chosen Polygon as the first blockchain network to support its newly launched Web3 wallet.

Let’s dive in!

Polygon-Analytics-Quarterly-User-Growth-Q3-2022

Polygon’s user base has more than doubled (+123%) YOY, owing to a tremendous increase in dApps and their performance that has contributed to the user growth.

Benji Bananas, a F2P game by Animoca Brands, is the most successful dApp (by users) launched this quarter. Since the last week in August, the dApp saw 423k unique users and over 886k transactions.

Quest3, a Web3 traffic distribution platform and advertising network, was the second most successful dApp with over 35k users and 534k transactions in Q3.

The last week of Q3 2022 definitely stole the show, with weekly unique active users escalating to a whopping 1.4 Mn+, a 43% increase from the previous week and the highest in the third quarter. Looking at a broader spectrum of users, Polygon has successfully maintained an average of 915k in the past quarter, thanks to a spectacular performance by our Top 50 dApps.

Polygon-dApp-Ecosystem-Highlights-Q3-2022

New entrants in the Top 50 dApps: Benji Bananas (423k, new launch), Lens Protocol (48k, +396%), Quest3 (34k, new launch), Balancer (23k, +265%), StableFund (8k, +144%), Gelato Network (7.5k, +95%), and Cometh (4k, +150%).

dApps that did not make it to the Top 20 in Q3: Meshswap, The Dustland, Aavegotchi, The Sandbox, and Decentral Games.

We reached an ATH in NFT Sales volume in September’22, climbing up to $2.36 Bn. While Non-Financial NFTs had a share of a mere $541 Mn, Financial NFTs took the lead with $1.8 Bn.

Out of the total volume ($4.7 Bn, +234%) this quarter, all the Top 5 contributors were Financial NFTs: Uniswap V3 Positions NFT-v1 (1.6 Bn), Aave (1.3 Bn), veDYST (533 Mn), Algebra Positions NFT-v1 (257 Mn), and Stake DAO am3CRV Strategy MAI Vault (191 Mn).

Active NFT Wallets peaked in the second week of August for this quarter, reaching a total of 280k. While there was a drop in the following week, the total number of NFT wallets bounced back in the last few weeks of the quarter to 3.6 Mn.

The developers are always on the move at Polygon. Regardless of market conditions, the developer activity on the PoS chains maintains a strong momentum. In the past quarter, we onboarded nearly 67k new contract creators, a 7x growth YOY. With more than 200k new contracts deployed on the chain, Q3 was the second-highest-performing quarter, following right in the footsteps of Q2 which had 254k contracts deployed.

For in-depth weekly analysis threads, view our Analytics resources on GitHub. We are happy to welcome you to our official Discord server or answer your questions via GitHub Discussions.

Thanks for reading!