The post Polygon surpasses Ethereum’s traffic, prepares grant program for builders appeared on BitcoinEthereumNews.com.

Polygon tries to solidify its position as the go-to solution for Ethereum projects. Recently, traffic on Polygon surpassed that of Ethereum, mostly based on app activity and DeFi. Polygon also redirects a part of its unlocked supply for a developer grant program. Polygon has the advantage of an early start, as it has been drawing games, DeFi, and other projects that first launched on Ethereum. In the past, Polygon has shown its capacity to carry large-scale NFT mints or on-chain traffic for real-time games.  Read: Polygon Price Prediction 2024-2030: Is MATIC Going Past $10 Soon? In the past weeks, Polygon again surpassed Ethereum’s Layer 1, which is now used less often for final settlement. Polygon also carries a larger share of USDT tokens, boosting DeFi usage with lower fees.  $MATIC Polygon overtook the Ethereum L1 in terms of usage 👀🚨via @tokenterminal 👋 pic.twitter.com/RMQCDctEVg — WEB3 Market Insight 🇦🇺 (@iftikharpost) June 10, 2024 The past weeks also saw Polygon increase its user count while fees decreased. The increased usage coincides with a return to DeFi and growth in lending protocols, some of which use Polygon as their base blockchain. As some traffic was redirected to the leading L2 solutions, Ethereum’s daily active users decreased to under 250K daily active wallets. The Polygon user count has also grown organically, without significant spikes because of campaign events. Polygon activity is not a novelty, as the platform has existed for multiple bull and bear markets. A return of users also signals health for several types of apps represented on the blockchain.  Polygon usage is still not entirely free, and some protocols are very competitive. Top smart contracts and DeFi apps may require more than 7 MATIC in fees, but usually, fees hover around 1 MATIC.  Most of the apps on Polygon are long-lived and…

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Filed under: News - @ June 12, 2024 10:20 am