🟪 PolyPulse #19: Stripe enables crypto payments in USDC on Polygon
Also read about cross chain deposits.
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 fourth week of April 2022
In the fourth week of April’22, there has been a 6% increase in the daily active users predominantly due to newer decentralized applications (dApps) being deployed.
Polygon has hit a new adoption milestone with more than 19,000 dApps running on the network, a sixfold increase from 3,000 dApps in October 2021, according to data from Alchemy, the world's leading Web3 developer platform.
There are now 8,000 monthly active teams building on Polygon PoS, up from about 6,000 in January 2022 and just a few thousand in October 2021. Many projects are choosing to build solely on Polygon. Alchemy data shows that 65% of the teams integrated exclusively on Polygon, compared to 35% deployed on Ethereum. The figures included dApps running on both the testnet and mainnet.
Creators, freelancers, sellers, and solopreneurs are building and creating all over the world. While it’s easier than ever before to find customers and fans, getting paid can still be difficult, especially outside of major markets. Polygon’s integration with Stripe will take this challenge head on and solve for it.
Stripe Connect, the product which will integrate this payment option was built to programmatically send payouts to over 70 countries in local currencies. Twitter already uses Connect to pay creators their earnings from Twitter’s monetization products, including Ticketed Spaces and Super Follows. With crypto payouts for Connect, Twitter will make it possible for creators who opt in to have their earnings paid out to a cryptocurrency wallet. Stripe will handle all crypto-related complexity and operations. No code changes are required, and platforms can avoid taking on the challenges of acquiring, storing, or transferring crypto themselves.
This integration enables Polygon chain to be used for such movement of funds which gives them a very big boost in terms of user count and adoption.
As the DAO approaches the month end, the grant review process is about to be completed and funds disbursement has to commence soon!
Key updates for the fourth week of April are:
Final stage grant review is underway and funds to be disbursed by the DAO by the end of this week.
Village talks featured Law Professor Eagle, who delivered a great educational session on DAOs, tokens and how to think about your own legal safety when building on Polygon.
Consensys and a few projects will be our guests for this week's village talk. You could join the AMA to learn how your project can improve transaction management.
If you are a project and want to apply for grant or need more details on application for grants/ vouchers or partner with Polygon DAO, click here.
Enable Cross Chain Deposits on Polygon via Warmhole. Here’s how:
Uniswap on Polygon becomes the go-to home for the majority of trades.
This time, Polygon is hosting the Polygon Ignite event in the metaverse. RSVP here:
Need to learn about the Qi wars. Here are the details:
Multiple tokens are now available for withdrawal on Binance through Polygon POS chain:
Copy cats or innovators who’ll win?
Due to the massive FOMO (Fear of Missing out) there has been a very steep rise in the number of copy cat apps which are deploying across chains. The major reason has been builders not actually innovating but looking at dApps which have been successful, and taking a shortcut to ride the narrative. There are two problems with this:
They do not have the same traction i.e. the users who are already using the original dApp will not be interested in plagiarized stuff , unless there is something grossly worrisome with the original dApp.
The business partnerships that the original dApp makes to grow the business may not be accessible by copycat dApps. Often these partnerships have helped the original dApps to grow which the copy cats may fail to access.
These two things are predominantly the major things that copycat dApps aren’t able to attain and ultimately fail. -Aishwary Gupta
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