PolyReview#1

PolyReview #1

Last week saw one of the biggest deals of the year as a conglomerate of investment firms led by Sequoia Capital India, SoftBank, and Tiger Global invested 450 million in Polygon tokens. The funds raised will be used to support the development and the ecosystem. The company continues to lead in the amount of investment raised and the format of engagement with large companies, consistently expanding the number of participants in the project at the expense of market leaders.

This news had a strong impact on capitalization — the value of the token increased by 30% and reached a local high of USD 2.05, with a total Market Cap of more than USD 14 billion. The amount of funds locked in the Polygon DeFi ecosystem also increased, reaching more than USD 10 billion.

Inflows were recorded among most of the leading protocols. The best performers are QuickSwap Decentralised Exchange, AAVE Lending Platform, and QiDAO CDP protocol.

According to DappRadar analytical service, the most popular applications in terms of the number of users remain games — Crazy Defence Heroes, Sunflowers Farmers, Arc8. The second competitive segment is decentralized exchanges, where SushiSwap showed the best dynamics with 4.5k addresses (+26% for the week), while QuickSwap remains the most popular exchange (20k unique users).

The NFT segment shows some interesting statistics — while the market size in the Ethereum and Polygon ecosystems differs by a factor of ten (due to the fact that the two exchanges — OpenSea and LooksRare — are monopolists in this market), the number of NFT traded is at relatively the same level. The overall average statistics for the number of NFTs per user relative to the number of users highlights the high potential of the industry given the low cost of transactions — as soon as the cost of participation in collection creation and trading starts to be a small fraction of the NFT price, user activity increases manifold. In this respect, Polygon potentially outperforms its basic blockchain by a factor of several.

Yield review | FARM THEM ALL at Polygon

While providing an overview of interesting yield farming ideas this week, we have tentatively divided them into three parts according to their risk profiles — low, medium, and high (prohibitive). Although our team has conducted an initial analysis of the projects, keep in mind that this is a very risky activity, the responsibility for the consequences of which is entirely on the participants.

Low risk

Stake your DAI on Solo.Top! Not so large APY, but compare that with a bank deposit!

Medium risk

Gysr on the Air! But this option has a countdown, and I want to play a game with you: if you don’t make two X’s on your capital in time, you get sawed in half. TIME IS TICKING!

High risk

Bunny knows where’s the honey!