AggLayer accelerates roadmap to unifying blockchain ecosystems with upcoming testnet
Polygon Weekly Overview - December 6, 2024
Welcome back to the Polygon Weekly Overview. The best place for Polygon community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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By The Numbers
Polygon daily active users: 696K (+11.65%)
Polygon daily txns: 3.61M (+11.64%)
Polygon Total Volume Locked (TVL): $1.26B (+11.5%)
NFT weekly sales volume: $5.54M (-46.32%)
Top 3 NFT collections by sales volume:
Courtyard: $2.45M (-16.83%)
Mining Pass: $423K (+254.5%)
LEDNFT : $337K (+65%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
AggLayer Spotlight
🟪What happened: The AggLayer is scheduled to release its v0.2 testnet on December 9th, following the launch of the devnet, Polygon Labs Co-founder Sandeep Nailwal said on X. Its mainnet release is scheduled “in the coming weeks.”
🟪Why does it matter: The AggLayer v0.2 is the “in-development version” of the protocol which means it supports chains using pessimistic proofs on the existing zero-knowledge proofs collected from the network. In simpler terms, it’s a security mechanism for cross-chain interoperability. As an interoperability layer, it will facilitate smoother cross-chain transactions among the connected chains. The release of the testnet, as the name suggests, will further test and refine the protocol, in a key step in the road to mainnet.
The upgrades continue to enhance user and developer experience with secure and low cost transactions. As mentioned, this version will introduce support for connecting any EVM chain with pessimistic proofs, which is a key component to unify chains through Agglayer, since it allows for faster interoperability and aggregation.
The ability of each chain to maintain sovereignty by using their native software stack while connecting to the unified bridge has expanded the AggLayer ecosystem, attracting partners like OKX, Lumia, Movement Labs and many more. In this upgrade, features also include lower transaction cost, fungible tokens, and native gas token connectivity for Layer 2s.
The Agglayer v0.2, with the addition of the pessimistic proof, has reached a key milestone in the goal of unifying blockchain ecosystems for fast interoperability and enhanced user experience within the ecosystem.
“The goal is to be as minimal as possible, to allow any chain to interoperate, unify, and connect through Agglayer,” Nailwal said. “Next up will be proof aggregation, followed by the full-featured Agglayer with fast [interoperability].”
🟪The big picture: The AggLayer has a goal to unify all blockchain networks, serving both EVM and non-EVM networks. The steps being taken toward mainnet involve solving many of the major issues and inefficiencies within the layer-2 space. New L2s continue to bring ecosystem fragmentation problems in liquidity, security, and transaction costs, hindering user and developer experience.
With the AggLayer aiming to address these challenges, it previously introduced the unified bridge at its core, enabling cross-chain communication for both L1s and L2s.
The newly introduced pessimistic proof further improves security and lowers costs through proof aggregation, contributing to a more unified and efficient blockchain ecosystem. These components, alongside the expanding AggLayer ecosystem will continue to unify liquidity and increase interoperability for user and developer experiences. Ultimately, AggLayer is designed to not only scale Ethereum but also drive the growth and integration in the entire web3 ecosystem.
Into the AggLayer
Lumia, a full cycle RWA chain, partnered with Myrrha Labs as its main market-maker
Check out the highlights from last month's AggSummit in Bangkok
Ronin, a gaming EVM blockchain, saw a 34% increase in transactions on the week
Polygon Labs released a blog to address AggLayer misconceptions
Michael Gao, Fabric CEO and co-founder, explains how its custom VPUs (Verifiable Processing Units) can accelerate ZK adoption and support the AggLayer
Ecosystem Showcase
These Polygon PoS metrics are up in the past 30-days, according to Dune data:
Unique users grew by 36.58%
Transactions grew by 12.59%
Courtyard’s auction for a 1999 1st Edition Holographic Charizard is live now
Listen to Polygon’s X Space on ‘The Future of Digital Dollars’ with Agora
ICYMI: Listen to the Polygon community discuss Art Basel Miami
Featured headlines
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Polygon-powered web3 video game Chainers unveils dates for closed playtest (Crypto News)
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Join the Polygon Developer Community Discord
At Art Basel? Hang with Polygon at the Magic Villa event between Dec 5-8th
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.