Polygon Weekly Recap Week 44 (27/10 – 02/11)

By CoinWire

Nov 2022

A week of great events marks October by affirming the growth of the Polygon ecosystem drive through the crypto winter

KEY TAKEAWAYS

The weekly NFT Volume continues to grow, reaching $3.9 Bn.
Lens Protocol Overview
BitPay Switches on MATIC Payments for Merchants
Aera Taps Polygon to Bring the Power of DeFi to DAO Treasury Management

ECOSYSTEM UPDATES

Hola readers! Nansen announced NFT support for Polygon, Axelar partnered with Polygon to deliver cross-chain communication to Polygon Supernets, and BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, has announced support for Polygon and $MATIC.

Let’s dive in.

Polygon On-Chain Data Highlights

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Network Analysis

The weekly NFT Volume continues to grow, reaching $3.9 Bn. Last week’s growth could be attributed to an increase in volume across Opium Network Position Token ($3.4 Mn, +20%), ZED horse ($438k, +25%), and Demet NFT ($201k, +320%).
Weekly NFT Mints climbed up to 3.85 Mn, an increase of 42% from the previous week and the highest in three weeks. The growth was primarily due to Sunflower Land Inventory (352k, +116%), Planet IX (134k, +60%), and Unstoppable Domains (29k, +21%).
Gaming activity is on the rise, with Benji Bananas (159k, +9%), Sunflower Land (23k, +25%), Planet IX (16k, +4%), and Ultimate Champions (11k, +28%) taking the lead in user base expansion.

dApps Spotlight

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NFT Highlights

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Lens Protocol Overview

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The Lens Protocol is a permissionless, composable, and decentralized social graph (developed by Aave team) that makes building a Web3 social platform easy.

Own, Control and Monetize their Digital Roots

Lens Protocol uses an open-source, decentralized, and composable social graph. This can be used freely by creators looking to establish their own social media platform on Web3. User profiles are represented and stored through NFTs on Polygon.

More detail: here

BitPay Switches on MATIC Payments for Merchants

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BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, will begin to support Polygon’s MATIC token this week.

Users can make payments with Polygon’s native token via most popular Polygon wallets. Collectibles marketplace Panini America is among the first merchants to accept MATIC payments. Users of the BitPay app can also buy, store, swap, and spend MATIC and several other supported ERC-20 tokens on Polygon, such as USDC, DAI, BUSD, and WBTC.

Aera Taps Polygon to Bring the Power of DeFi to DAO Treasury Management

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Aera, a rewards-based treasury management system for decentralized autonomous organizations (DAO), is coming to Polygon to let projects leverage the power of on-chain finance.

For DAOs to achieve their goals, they need to adopt nimble and risk-aware approaches to treasury management and make the most of the tools made available by decentralized finance (DeFi). That’s particularly true during a market downturn, when the treasury fund is needed most even as its value drops.