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.
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.
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.
14th September - EY, a global professional services and technology firm, is collaborating with Polygon on building and implementing scaling and enterprise solutions for the Ethereum ecosystem. As part of this collaboration, EY and Polygon will work on Polygon Nightfall, a public, privacy-focused Rollup. In addition to this, EY will offer its other flagship blockchain […]
The Protocol team was recently established at Coinbase to work on scaling Ethereum through integration with L2 and other ETH scaling solutions. The Coinbase team plans to integrate Polygon PoS as their first scaling solution for Coinbase. The Coinbase Protocol team is an experienced group of engineers at Coinbase focused on contributing to scaling blockchains and […]
We are proud and excited to announce that Hermez, one of the most prominent zero-knowledge (ZK) cryptography-based scaling projects and teams, will be joining Polygon. Starting today, we will initiate the process of merging Hermez into the Polygon ecosystem, where it will be operating under the new name: Polygon Hermez. Polygon Hermez will become a part of […]
Polygon’s bug bounty program on Immunefi, DeFi's leading bug bounty platform, is now live with a maximum bounty of $2,000,000. If you are a security researcher looking to venture out into the blockchain space, this is your chance to understand how things function. This bug bounty program is focused on smart contracts with an essential […]
Polygon team members will be speaking at Messari Mainnet in New York City on September 21-22. We also have a booth at the conference, so come meet us and learn about Polygon! Here are some of the talks you can’t miss: On September 21, at 2:20 pm, Dean Thomas, Head of Institutional Capital, will speak […]
The Ethereum scaling solutions space has been heating up lately. Which is a good thing, because Ethereum (and its community) needs scaling as soon as possible. As you know, Polygon's mission is to develop various kinds of Ethereum scaling solutions, from sidechains to rollups (and more). But all these solutions come with trade-offs. There's no […]