Polygon Labs purchases $2M of Moonveil nodes for AggLayer expansion
Polygon Weekly Overview - October 11, 2024
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By The Numbers
Polygon daily active users: 535.4K (-12.37%)
Polygon daily txns: 3M (+14.94%)
Polygon Total Volume Locked (TVL): $930M (+4%)
NFT weekly sales volume: $5.4M (-24.03%)
Top 3 NFT collections by sales volume:
Courtyard: $844.3K
Matr1x Fire Weapon: $684.2K
Mining Pass: $672.9K
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
AggLayer Spotlight
🟪What happened: Polygon Labs bought $2 million worth of nodes to help grow Moonveil’s gaming-centric layer-2 blockchain.
🟪Why does it matter: Moonveil plans to leverage the Polygon Chain Development Kit (CDK) and connect to the AggLayer to help enable modular operations and cross-chain liquidity. This ecosystem aims to be a key foundation for gaming product developments and Polygon Labs’ strategic investment will be allocated across each tier, the firm said.
Moonveil leverages nodes to facilitate greater decentralization in its network and align with advancements in the Polygon CDK. This is important because nodes are essential for decentralizing key functions, such as Data Availability (DA) and proof verification.
Moonveil says its ecosystem can continue to adopt newer technologies, while maintaining its commitment to decentralization by following the ongoing developments in the Polygon CDK. This approach can continuously enhance the security and adaptability of the network.
Nodes play a role in Moonveil’s ecosystem, and Polygon Labs purchasing $2 million worth of them shows its commitment to help decentralize the L2 and expand the “next era of gaming.”
🟪The big picture: In general, nodes help networks validate transactions, decentralize data availability, and enhance the overall security of the network. If Moonveil can continue to implement nodes successfully, it can also make the AggLayer ecosystem more resilient by reducing vulnerabilities and removing single points of failure. This would help scale the AggLayer by providing further capabilities of interoperability and decentralization.
Into the AggLayer
Builders on the AggLayer can submit projects to the POL Rush campaign for a chance to pitch to a live panel at AggSummit in Bangkok
Missed AggDay at Permissionless? Watch the live stream to learn more about all things AggLayer
Read how Haust Network aims to streamline liquidity flow across blockchains by connecting to the AggLayer
Movement Labs partnered with Taisu Ventures to co-host events in hopes to spread AggLayer awareness to developers
Ecosystem Showcase
Stripe re-enabled crypto payments on its app via Polygon, Ethereum, and Solana
X user aulijk, who’s a part of the growth team at Immutable, shared a thread diving into its web3 gaming operations
Gaming related transactions on Polygon PoS hit 3.4M, a 26% increase week-over-week
Source: Dune Analytics
Featured headlines
You might have seen these Polygon-related headlines recently…
The AggLayer Will Be a Particle Accelerator for Blockchain Use Cases (Polygon Labs Blog)
Nansen's Polygon Quarterly Report - Q2 2024 (Nansen)
Stripe reinstates crypto payments for US businesses via USDC on Ethereum, Solana and Polygon (The Block)
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Tune into “The Aggregated”, an X space hosted by QuickSwap, on Oct. 11 at 11AM EST
Attend the Aggregation Summit in Bangkok, Thailand from Nov. 10-11
Meet Polygon community members by joining its Discord
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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.
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