New Messari Q3 report on Polygon

A brand new report by Messari on the state of the Polygon community revealed a rise of recent addresses QoQ of 180%. Lively addresses additionally hit an all-time excessive of 6 million, whereas whole transactions surpassed 2 billion throughout Q3.

Different vital metrics for Polygon are proven within the desk beneath. Messari’s knowledge reveals that the energetic validator set grew by over 100% since 2021, and the entire provide staked rose to 38,4% from 29,8% in 2021.

Supply: Messari

Polygon invested $1 billion and raised $450 million in ZK-scaling expertise as its strikes to develop on its profitable PoS chain. Further chains embrace Supernets, Avail, Zero, Miden, zkEVM, Dusk, and Edge. Every chain is optimized for various scaling or privateness options.

Supply: Polygon.expertise

The Polygon PoS Ethereum sidechain continues to be accountable for almost all of Polygon’s community exercise. With core partnerships introduced with the likes of Disney, Reddit, and Starbucks, new customers had been introduced into the community to work together with the branded NFTs.

Messari additionally highlighted that whereas the worldwide market cap of the crypto business has been vary sure across the $1 trillion mark, Polygon’s market cap is up 43% QoQ.

Additional, 14% of the entire provide was moved from vesting contracts to staking or Polygon treasury. The remaining 270 million MATIC was earmarked for the Polygon treasury in October, that means your complete provide is now in circulation.

Polygon ecosystem

Specializing in the Polygon ecosystem, the highest 10 DeFi tasks made up 70% of the community’s TVL. A fall in TVL by 43% was attributed to the competitors of Optimism and Arbitrum’s new liquidity mining campaigns.

Gaming transactions spiked 100% in September as gaming transactions broke 15 million. New video games launching on the community, together with Arc8, Benji Bananas, Planet IX, and Sunflower Land, are reportedly chargeable for the elevated exercise.

The Polygon NFT ecosystem had essentially the most sturdy Q3 efficiency, in accordance with Messari. A horse racing recreation Zed Run and Reddit’s Collectible Avatars lay the muse for the expansion. The variety of NFT customers on Polygon broke 5 million in August, whereas the variety of transfers exceeded 50 million.

polygon nft
Supply: Messari

Nevertheless, not all points of the report revealed bullish knowledge. Polygon’s income was down 26% to simply $4.2 million for the quarter, as transaction charges fell 51%.

The report concluded by stating.

“Regardless of the continuing bear market, Polygon continues to construct at a heightened tempo… By permitting unbiased groups to experiment with completely different scaling approaches, Polygon is fostering intense collaboration and data sharing.”

Every of Polygon’s core options was reviewed intimately in the course of the report. The launch of further scaling options on each testnet and mainnet are causes Messari is bullish on Polygon for Q1 of 2023. Nevertheless, the report additionally highlighted that Polygon is betting laborious on a ZK-scaling future for Ethereum.

“Polygon is betting the way forward for Ethereum is ZK-scaling, so Polygon’s success will largely depend upon its skill to rapidly and successfully ship its new ZK-solutions.”



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