Overview

It is clear that the crypto world is not living its best moment due to the bad news that has occurred throughout this year and also succumbed to the global economic crisis that we are experiencing.

However, it seems that Polygon, one of the most used Ethereum sidechains, has managed to pull ahead despite this situation by increasing its activity during the last months. Over the last few months, there have been four basic reasons:

• Betting on large traditional firms. Instagram has been used to mint and sell NFTs directly through the application.
• Reddit has also chosen Polygon as the network on which to implement its NFT functionality, with which users can buy and display unique avatars.
• JP Morgan recently conducted its first DeFi transaction, using Polygon's network, as it offers faster transaction speeds and much better gas rates than Ethereum.
• Finally, it is worth remembering that other major brands have chosen Polygon to develop Web3 functionalities and services. Coca-Cola, Starbucks and Disney have opted for Ethereum's layer 2, which could explain MATIC's good performance in the midst of a particularly volatile market [1].

Methods

The intention of this dashboard is to provide several metrics that lead blockchain community to see the current usage activity on Polygon network and try to understand why is this network growing and which sectors are being used the most.

Have been Reddit the main motor for this recent increase in the activity on the neetwork?

To answer this, we are gonna explore several metrics not only in general perspective but also in a more specific way for Reddit users. The metrics evaluated are:

• Evolution of users by type
• Evolution of transactions by type of users (new vs olds)
• Number of users by main destination
• Number of transactions by main destination
• Number of users by sector
• Number of transactions by sector

Because of there are an important amount of bridges in terms of transactions, we have explored as well the main activity did by users just after bridging in order to understand their behavior. It can be seen in the last section.

The idea is to make the analysis an interactive dashboard. For this reason, the reader can choose two main parameters:

• Granularity: study in a daily/weekly/monthly basis
• Period: the timframe can be 1 week, 1 month, 2 months, 3 months, 6 month, 1 year, 2 years or 3 years

Global ecosystem activity

Behavior activity by sector

Behavior activity by destination

Active users

New users

Active users

New users

Post bridging behavior activity

Reddit specific analysis

Reddit community behavior activity by sector

Reddit community behavior activity by destination

Active users

New users

Active users

New users