Earlier this month, Flipside Crypto asked you to get into analytical shape with our Polygon bounties. Now, it’s time to see what our community of expert analysts came up with.
We’ve got four Art Blocks data dashboards to highlight this week. That includes submissions from @darksoulsfanlol, @lostindefi, and @ScottInCrypto.
Let’s dive in.
Comparing the cost of MATIC and ETH transfers 🔁
Polygon is known for its low fees, especially when compared to ETH transactions. But just how low are these fees?
According to @darksoulsfanlol’s submission, Polygon has earned its reputation for low fees, but with one caveat. “As the number of transactions on the network increases, we are seeing that gas fees on the Polygon network have also been rising slowly and steadily.”
Those fees are still quite low compared to ETH fees, however.
Where do people go when they bridge to Polygon? 🌉
Where do most people head once they decide to embrace those low fees? According to this submission from @ScottInCrypto, Aave leads the way for new entrants — by a long shot.
Interestingly, 11% of funds bridged into Polygon are bridged in immediately bridged out in the next transaction. @ScottInCrypto points out that “it’s possible that Polygon is being used as an intermediate step to bridge to other ecosystems.”
Polygon’s most active addresses 👛
Finally, which addresses are taking the most advantage of the low cost of transactions on the Polygon network?
As we can see in the data above from @lostindefi, there appear to be five addresses — or should we call them super whales — dominating activity on the platform. They appear in five different leaderboards.
Do more with Polygon data 🔍
That does it for now. Thanks to everyone who submitted such great data dashboards!
Want to get more involved with the Flipside community and see your own submissions on our blog? Join us on Discord to get started.