New mints jumped 50% to 66.6M transactions. And while the total dollar value of NFT trades declined 64%, tx volume soared 47% to 122M.Polygon’s growth is well reflected in its DeFi protocols which tend to attract users discontented with high gas fees in Ethereum. As a result, bridge aggregators and decentralized exchanges benefited from the emerging wave of migration.
For instance, Bungee – an aggregator that bridges ERC-20 tokens from Ethereum to Polygon – became the fifth largest protocol on the network, with its transaction volume skyrocketing by 972% and its number of users increasing to 92K in the quarter. Regarding the network’s expansion in NFTs, the total number of Polygon-based wallets on OpenSea increased by 47% to 1.51 million in Q2. In the meantime, newly minted NFTs jumped by 50% to 66.65 million. Among all the blockchain games developed on the blockchain, a community-owned NFT game,To boost its Web3 ambition, Polygon
its Zero-Knowledge Ethereum Virtual Machine last week. The new solution works with existing smart contracts, developer tools, and wallets without modifying or re-implementing codes while enhancing scalability and lowering costs without sacrificing security.