Polygon’s ecosystem took the crypto community by storm with several milestone achievements last year. The network made significant Progress to bring the next wave of users to Ethereum. Therefore, several projects in DeFi and NFT rushed to Polygon’s blockchain.
Furthermore, Polygon is home to some of the industry’s most well-known Web3 platforms and developers. Aave, Dolce & Gabbana, OpenSea, Aavegotchi, among others, are some projects on Polygon.
Massive Progress of dApps
Reports showed that the number of decentralized applications building on the network hit 3,000 in October 2021. This was up from 30 at the same time the previous year. Also, the scalable blockchain emerged as the new spot for scaling solutions in the congested area of Layer 2 competitors.
In addition, Polygon welcomed several new users last year, so the number of unique addresses has surpassed 120 million. Furthermore, Polygon recently shared a tweet highlighting key moments of 2021. The tweet read:
2021 was an amazing year for the #Polygon ecosystem!
From key #web3 projects like @Uniswap, @AaveAave, @Opensea, @Aavegotchi, @TheSandboxGame & many more launching on the network to major moves in the #zk space, here's all that the community was upto.
— Polygon | $MATIC (@0xPolygon) January 3, 2022
Q1-2021 Polygon Achievements
Several key events took place within the first quarter of the year. 2021 began with Avegotchi choosing Polygon to power its DeFi staked NFT ecosystem. Later on, the network announced its rebrand from “Matic Network” to “Polygon.” It noted that its goal was to become the go-to Ethereum scaling solution.
Here are some key events that took place in March 2021:
- The world’s richest man, Elon Musk, joined the NFT scene. He shared a Tweet on Valuables, a Polygon-based platform run by Cent.
- Twitter co-founder and former CEO Jack Dorsey sold an NFT of the first-ever Tweet for $2.9 million on Valuables.
- Unique addresses climbed 200,000
- The number of transactions per day surpasses 300,000.
Q2-2021 Polygon Achievements
April was a key month for the network, where several projects like Curve and Aave embraced the network. Furthermore, the blockchain became the scaling solution for Decentraland.
Later on, SushiSwap went live on Polygon’s blockchain. Then, the network unveiled the Polygon SDK in May 2021. Moreover, Mark Cuban, a prolific investor, invested in Polygon in May.
Also, Sandbox announced Polygon as its scaling solution. Furthermore, NFT marketplace OpenSea, paired with the blockchain in the same month.
Q3-2021 Polygon Achievements
From July to September, Polygon’s network enjoyed several high moments. Also, the decentralized asset management platform, Balancer, went live in July. Furthermore, the platform launched Polygon Studios, a Web 3 gaming and NFT arm, in the same month.
Moreover, here’s a list of what happened on Polygon in August and September 2021:
- Hermez Network joined Polygon’s base. This was to hasten the development of a zero-knowledge Ethereum Virtual Machine.
- Coinbase revealed plans to integrate Polygon PoS as their first scaling solution.
- Mina Protocol joined the blockchain to enable privacy-preserving applications.
Here's what we achieved together in 2021 pic.twitter.com/X9VU6xALIX
— Polygon | $MATIC (@0xPolygon) December 19, 2021
Q4-2021 Polygon Achievements
In the last quarter of 2021, DraftKings announced its plans to build an NFT marketplace on Polygon’s network in October 2021. A considerable increase followed this as the number of unique addresses on the blockchain crossed 100 million.
Furthermore, in November, the network announced the Polygon Miden. The platform is an upcoming STARK-based, EVM-compatible rollup. This came after the scalable blockchain revealed that its area of focus. The platform noted that it would focus on ZK (Zero-Knowledge) cryptography.
Finally, the platform ended its year with several major announcements. First, it announced a $400 million deal with ZK startup Mir and the emergence of Polygon Zero. Later on, the platform launched a partnership worth $200 million with Alexis Ohanian’s Seven Seven Six. This deal supported projects at the intersection of social media and Web3.
What generated its growth?
Four reasons caused Polygon’s growth in 2021. Here is a summary about them:
- Perfect interoperability with the Ethereum Virtual Machine: This single feature was a game-changer. It allowed Polygon access to a proven tech community.
- A full suite of solutions: These services give their users operational scalability and flexibility in real-time.
- An advanced and effective messaging system: It streamlines and simplifies cross-chain communication for users.
- Users pay much lower fees: In September, the average fee in Ethereum was as high as $200. However, in Polygon, users typically pay 1$ fee.
$MATIC Price Activity
As of writing this article, the price of $MATIC is $2.47 with a 24-hour trading volume of $1,2 billion. Also, MATIC’s price has been down 0.8% in the last 24 hours. Furthermore, It has a circulating supply of 6.8 Billion MATIC coins and a total supply of 10 billion.
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