Polygon Developer Ecosystem Hits New Milestone With Over 7,000 DApps
January 27, 2022
Polygon has reached a new adoption milestone with more than 7,000 decentralized applications (dApps) running on the network as of December, more than double the number just three months prior, data from Alchemy, the world’s leading Web3 developer platform, show.
The skyrocketing popularity of new applications in decentralized finance (DeFi) and non-fungible tokens (NFTs) brought with it congestion and soaring fees on the Ethereum mainnet last year. Much of the activity shifted to Polygon to take advantage of low fees and high throughput. By October, the network was hosting over 3,000 dApps, compared to just 30 a year earlier.
The number of teams building their projects on Polygon PoS has doubled every two months from mid-last year, according to Alchemy. That number stood at more than 6,000 at the end of December, up 43% from the previous month. The influx has pushed up usage 74% in the same period.
Polygon’s broad range of scaling options and some of the industry’s lowest transaction rates have made it a destination for some of the biggest Web3 platforms and developers, from DeFi projects such as lending platform Aave to luxury brands company Dolce & Gabbana and NFT marketplaces including OpenSea and Mark Cuban’s Lazy.com. In December, Uniswap’s community voted overwhelmingly in favor of deploying V3 of its protocol on Polygon, joining an already flourishing DeFi ecosystem that also includes blue chips like Curve, 0x, Balancer and 1inch.
Many teams are also choosing to build solely on Polygon. Alchemy data shows that 55% of the projects have integrated exclusively on Polygon, compared to 45% which have also deployed to Ethereum.
Polygon PoS adoption has soared exponentially, with a billion transactions recorded last year. The network’s more than 130 million unique addresses and over 2.67 million monthly active users now generate some 3 million transactions per day, more than double the volume of Ethereum.
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