This Polygon Weekly Recap is provided solely for informational purposes and does not constitute investment advice. Polygon is a network full of potential, with high security and fast transaction speed. Last week, Polygon officially announced the launch of zkEVM, which increases scalability and transaction speed while ensuring security. This is important news in the evolution of the Polygon network. The ecosystem also has much other notable news. Let’s analyze the news on Polygon with Coincu Ventures.
NETWORK GROWTH
Total Value Lock
Total Value Locked has recovered in the past week. Specifically, TVL increased from $1.7B to $1.85B, an increase of approximately 8.82%. The total value locked of the whole system has generally recovered in the past one month. This is a good sign.
Stablecoin Supply
If only looking at TVL and assessing the growth of an ecosystem, it would be very flawed. Because the current trend is Web3 and NFTs, but these two segments do not have TVL. So a better indicator to gauge the overall cash flow in the ecosystem is Stablecoins. Stablecoins have been mostly flat for the past two months. Specifically, the Stablecoin supply increased slightly by 1.25% from the previous week and is holding at $2.43B.
$USDC has the highest weight, with $1.55B – accounting for 63.87%. Next is $USDT with $645.73M- accounting for 26.56%.
HIGHLIGHT EVENTS
Polygon zkEVM, the first EVM-equivalent ZK L2
On July 20, Polygon officially launched Polygon zkEVM. this mechanic is the first open-source zk-Rollup providing complete EVM opcode equivalence for a frictionless user experience and the security of Ethereum. This technology will help users and developers alike reap the futuristic benefits of ZK proofs, all while benefiting from the decentralization, security, and familiarity of Ethereum.
More information: CLICK HERE
Polygon partners with Kaleido
Polygon is partnering with enterprise-grade Web3 infrastructure platform Kaleido to give businesses the power to build custom blockchains tailored to their needs. Kaleido will leverage Polygon Edge, a modular framework for bootstrapping Ethereum-compatible networks, to meet surging demand from enterprises looking to launch services in Web3
More information: CLICK HERE
NodeReal MegaNode Now Supports Polygon!
MegaNode provides high-performance blockchain API services for BNBChain, Ethereum , Aptos (Testnet), and now, Polygon!
With MegaNode’s support, developers were more accessible than ever to build on Polygon and capitalize on the massive user demand for different dApps in the Polygon ecosystem – from wallets, DeFi, and NFTs to GameFi, and more.
More information: CLICK HERE
Polygon BUIDL IT : Summer 2022
This hackathon is to help developer tap into Web3 and build their own decentralized application with Polygon. The hackathon will focus on the main areas such as: Defi, NFTs, Gaming, Tooling/infrastructure, Public Goods, Web3, ZK. With a total prize pool of up to $500,000
More information: CLICK HERE
DEFI LEGO
Lending/Borrowing
Ooki Community Roadmap Planning
Ooki has integrated with Canny to streamline feature requests and roadmap planning. Ooki users can now visit Ooki’s roadmap and feature request pages at https://ooki.canny.io/ to participate in development and feature requests.
More information: CLICK HERE
Yield Aggregator
Evmos is now integrated on Autofarm
Evmos is the 17th chain integrated on Autofarm. This partnership will help users on Evmos diversify the services used for tokens on Evmos, and provide a source of liquidity from Evmos to Polygon through Autofarm.
More information: CLICK HERE
Asset Management
Sharpe integrates with Polygon to launch risk-managed systematic investment products.
Sharpe goes live on Polygon! Sharpe’s Structured Investment Vaults are now integrated with Polygon to build scalable investment products on Polygon’s commit chain.
With faster transaction processing and higher security of Polygon, Users interacting with Sharpe will not be burdened with an exorbitant fee or prolonged processing times, making it better and simpler for everyone to invest in DeFi investment products
More information: CLICK HERE
Web3.0
PARSIQ’s Tsunami API Launches on Polygon.
The Tsunami API is the core API created by the PARSIQ Network. With this integration, Tsunami provides Polygon’s entire ecosystem of developers, dApps, and protocols access to the full spectrum of data on Polygon. The Tsunami API provides users with raw data from the entire history of a chain. It also provides the ability to apply filtration mechanisms, allowing for the querying of the whole of the blockchain history, for example, by the sender, receiver, contracts it interacted with by topic.
More information: CLICK HERE
NEW PROJECTS
Webpay – Payment: a crypto payment gateway where users can leverage it to process payments in a fast & cost-efficient way.
VERDICT
Above is the important information in the past week on the Polygon ecosystem.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
Find more information about Polygon
Website: https://polygon.technology/
Whitepaper: https://polygon.technology/lightpaper-polygon.pdf
Twitter: https://twitter.com/0xPolygon
Telegram: https://t.me/polygonofficial
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Ken. N
Coincu Ventures
