🟪 PolyPulse #18 Polygon Supernets are here with a $100M adoption fund.
Also read about a new community DEX with a ve(3,3) oriented style on Polygon.
Howdy family!
Welcome to Poly Pulse - your guide to staying up-to-date on the latest trends in the Polygon DeFi ecosystem.
This newsletter breaks down top stories, developments, updates, and trends from the third week of April 2022
In the third week of April, 2022, again the major contributors have been Aavegotchi (51% increase in daily active users) and Sunflower games (64% increase in daily active users). Sphere Finance also saw a new surge where the daily active users rose by a whopping 72%.
Aavegotchi has launched a new playdrop which has caused the surge. If you want to be a part of the playdrop, you can find more details here.
Sunflower users are returning with their new contracts deployed and Sphere Finance launched their V2 which got the users excited and hence their active user counts.
Gas Fee saved by using Polygon during the last week as compared to Eethereum is $63 Million daily ($20 per Txn). Imagine a world without Polygon’s low gas fees.
The major dApp spotlight based on the total transactions during the previous week and the unique users it entails was topped by Quickswap (Unique Users) and Pegaxy (Total Transactions).
BUILD a supernet with Polygon Edge
What is Polygon Edge?
Polygon Edge is a customizable blockchain solution that enables you to build and launch dedicated blockchain networks tailored specifically to your needs.
Scaling and throughput present the biggest challenges for developers with public networks, which Polygon Edge aims to address. Polygon Edge offers solutions that allow fast and smooth scaling even in the case of extreme transaction load, enabling developers to build applications with millions of daily active users and manage tens of millions of transactions per day.
If you are interested in deploying on Polygon Edge here is a walkthrough of its deployment by SettleMint.
What is a Polygon supernet?
Polygon Supernets are blockchain networks with several important characteristics that aim to mitigate a few important challenges and enable mainstream adoption of Polygon and blockchain technology in general.
These challenges are:
Complexity of bootstrapping a decentralized and reliable validator set with well-designed coordination mechanisms.
Technical and operational complexity of blockchain networks and relevant security challenges and concerns.
Complexity and challenges of protocol-level token design.
What are the advantages Polygon wants to provide to the users with the Supernets?
Supernets are dedicated to just one specific use case or protocol. This would entail how a dedicated Web 3 hosting would look like.
Supernets are secured by Polygon’s MATIC which would work as a shared security layer in the form of a MATIC-staked validator marketplace. Projects that opt in for this service will instantly get access to a decentralized, reliable Proof of Stake validator set and skip the challenges of bootstrapping a validator network. Additionally, Polygon validators will stake MATIC and receive rewards in MATIC, so there is also no effort required from application/project teams when it comes to validator incentivization and sustainability.
Supernets are connected with each other and Ethereum. Every Supernet is able to exchange value and messages with other Supernets and with the Ethereum mainnet.
$100 Million Adoption Fund
Polygon has announced a $100 Million adoption fund that is immediately available and can be used for:
Development contracts and grants;
Research contract and grants;
Third party integrations and partnerships;
Project onboarding and migration;
Liquidity mining;
Acquisitions.
We will be sharing more information as we dig deeper into the segment.
PolyPulse is the first newsletter to talk about the Supernets launch!
After announcing the Polygon Village, during the first few weeks of the Village program the DAO is working on:
Grant submissions: The DAO received over 120+ applications for grants, vouchers and liquidity incentives. It’s in the process of reviewing the grants.
Village talk: The first village talk was kicked off by Sandeep himself where he talked more about the initiative and showed the vision he has with it.
Bounty board and Job board: An initiative which continues to enable projects to leverage the reach of Polygon and help us build collaboration in the Ecosystem while reaching talent and contributors through the Polygon DAO.
Learn more about Polygon Village and join the community in Polygon DAO, we want to build the future of web3 with you!
Another update worth mentioning from the DAO side was an offer by a new reimagined community oriented ve(3,3) DEX, named Dystopia, launching soon on Polygon.
What is Dystopia?
Dystopia is a decentralized exchange (dex), which is a type of protocol that allows for automated trading between two (or more) types of assets.
What is the offer Dystopia made to PolygonDAO?
The platform decided to donate 10% of the total token supply as a locked NFT to the DAO to act as a guardian of Dystopia. As a guardian the DAO can ensure:
1. The best performing pools recieve votes to attract more liquidity providers.
2. That the DAO uses all the fees generate to create a Polygon #DeFi Innovation Fund to give grants for building new and innovative DeFi primitives.
The DAO in response has accepted the proposal to be the keeper of the NFT.
To read more about the DEX you may refer to the blog.
In Amsterdam? Don’t forget to attend the Polygon Ignite event.
Arrakis reaches a $40Million TVL mark with the LM rewards enabled by Polygon. This tweet explains how you can benefit from the rewards:
Meshswap, the biggest DEX on Klaytn chain, is deploying on Polygon with a 1.25 Million MESH token airdrop. Check for your eligibility.
How is the user experience in DeFi different from the traditional platforms?
As compared to the traditional platforms which have a super smooth and easy to use interface, DeFi platforms have yet not been able to master it. Thus, there is a high demand for the front end developers. In the current market scenario the user journey has become one of the paramount requirements for the dApps to succeed. With so many similar types of dApps deploying everywhere, this would play one of the biggest roles in deciding who succeeds at the end.
On a side note, Polygon recently acquired Cope Studio, to address exactly the same issue of user experience. Their product, Finity, is an open-source, cross-platform and powerful design system that lets you create DApps that your users would love absolutely for free. - Aishwary Gupta
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