The AggLayer has $131.5M in TVL, according to new L2Beat dashboard
Polygon Weekly Overview - October 18, 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: 597.3K (+11.56%)
Polygon daily txns: 2.97M (-1%)
Polygon Total Volume Locked (TVL): $1.01B (+7.53%)
NFT weekly sales volume: $4.17M (-3.13%)
Top 3 NFT collections by sales volume:
Courtyard: $912.3K
Matr1x Fire Weapon: $744.6K
TKGirl: $404.9K
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
AggLayer Spotlight
(Highlighting some of the biggest updates on Polygon (chain updates, partnership announcement this week.)
🟪What happened: The AggLayer’s TVL across all networks connected to it, has hit $131.5M, according to a newly launched dashboard from L2Beat.
🟪Why does it matter: L2Beat, a well-known analytics platform for Ethereum layer-2 (L2) blockchains, released a tool to track the TVL across chains linked to the AggLayer.
TVL is an important metric as it reflects the level of assets within a network and can contribute to growing user and developer trust. A high TVL often attracts developers seeking lower costs and cross-chain capabilities, crucial for building scalable decentralized applications (dApps).
At the time of publication, the AggLayer’s TVL is spread across eight tracked chains that contribute to it. This serves as an early indicator of ecosystem activity and development, despite the AggLayer not being fully launched.
Being able to understand what chains are contributing to the AggLayer ecosystem and the value they add is an important tool for developers to help them decide where to build.
🟪The big picture: The AggLayer aims to solve issues of blockchain fragmentation by fostering a more connected ecosystem, allowing dApps to operate seamlessly across multiple networks.
The new L2Beat dashboard is a valuable resource for developers that offers transparency on which chains are contributing to the AggLayer’s ecosystem. This tool can help developers make informed decisions on where to build by simplifying access to TVL data. In turn, this can support the growth of the cross-chain application space.
The ability to see metrics like these – and segment it to see individual chain contributions – is an important tool to foster growth.
Into the AggLayer
Interested in attending the Aggregation Summit? Check out this thread that showcased what to expect
Listen to this podcast episode that dove into Gateway FM, a sequencer that aims to boost performance for Agglayer connected chains
X user WorldOfMercek created a thread that dove into Nodekit, a platform that plans to bring composability to the AggLayer
Ecosystem Showcase
Unique gaming users on Polygon PoS hit 633.6K, up 46% week-over-week, according to Dune data
About 23% of EVM transactions are conducted with Polygon PoS, data on Dune shows
Ronin co-founder Jihoz spoke in an interview about Axie Infinity and its integration to the network
Polymarket hit $42.55M in USD inflows, an all-time high for the platform (shown below)
Source: DefiLlama
Featured headlines
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Polymarket Surpasses $1 Billion in Monthly Trading Volume, Becomes Top Free News App in Apple’s U.S. App Store (Unchained)
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Polygon Labs teamed up with ETHGlobal to offer a $20K prize pool for its San Francisco event - details here
Lanca implemented support for Polygon - learn more and participate here
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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.