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🟪 PolyPulse #25 Polygon Avail is just around the corner!
Also, read about how to earn ~29% using Liquid staking strategies on Stader.
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 first week of June 2022.
The decline in the Daily Active Users continued as compared to the last week of May 2022, as we get deeper into the crypto winters. The Weekly Average Users also fell from 869K to 761K this week. One of the biggest indicators of a crypto winter is low engagements on the chain. It is also an indicator to keep your head down and keep building the amazing dApps.
Aavegotchi witnessed a hike across transactions- 463k (+77%) and users- 18k (+5%) due to their new game that was introduced by the Protocol.
Demystifying Polygon Avail: It is often very difficult to understand the complex terminology of Web3. In order for you to understand it in a better way, here is an easy explanation for you to understand Polygon Avail:
Modular blockchains work a bit like cargo trucks (i.e., blocks of a blockchain) picking up freight, and traveling up a steep hill. Drivers ( i.e., nodes in a blockchain) have to inspect every transaction before they're loaded. Once loaded, those drivers have to take every transaction to the blockchain.
But the more transactions (txs) are in the truck, the heavier they are. And the heavier they are, the more gas they need. And gas is expensive! The same drivers taking the transactions up the hill are the ones that have to check for the authenticity of the transactions which slows down the whole network.
Instead, imagine there were dedicated people that could check each transaction before drivers even showed up. And rather than carrying all the transactions up the hill, drivers could store them downhill & just carry a log of transactions stating exactly where these transactions reside. This is what Polygon Avail creates.
In a modular world, transactions are taken to execution environments to be checked before Ethereum drivers even arrive. This is what is meant by "off-chain execution". In return, these execution environments sign off on that batch of txs. These are "proofs of execution".
Congratulations, we've just built a rollup! This alone speeds up blockchains like Ethereum substantially. Parking transactions downhill using a service like Avail is called “off-chain data availability". In return, Avail gives drivers a log to find txs. This is a "proof of availability".
With transactions already checked, and no need to take txs to the main chain, drivers only have to carry two things:
1) A proof of execution: to prove transactions have been checked;
2) A proof of availability: so anyone can find transactions off the main chain.
Congratulations, we've just built a validium!
The best part is that these two proofs cost substantially less gas to carry to the main chain than all individual transactions would. And because drivers don't have to execute anything ahead of time, there are no more traffic jams!
We will be digging deeper into the Polygon Avail as we’re near its launch. Currently, its Testnet is scheduled to launch later this month. Stay subscribed to learn more as we move ahead.
In the bear market, even if we get a double digit APY it is considered as a decent return. With the current strategy of the conservative farmer, we bring you an opportunity to earn up to 28% APY with negligible impermanent loss and an audited farm. Sounds exciting?
📌 Circle announces support for Polygon on its payment platform:
📌 Stake on Lido via StakeAll
📌 A new stableswap AMM coming to Polygon.
📌 Unveiling Polygon Alpha Podcast:
If you are looking for a job in Web3, here are a few references that you may find helpful to land a career in the decentralized world of the Internet:
DeFi Pulse: If you are a degen writer and are interested in a freelance research role, fill out this form.
Polygon Ecosystem Job Board: Polygon has launched a crypto focused hiring platform that leverages its massive ecosystem to bring the best Web3 jobs and top quality talent together. You can check the jobs here.
Crypto Job List: It is a twitter page that shares multiple jobs and can help you get hired in Web3. You can access the account here.
Let's get you hired. - Aishwary Gupta (Strategy/Marketing Lead at Polygon DeFi & Community Lead at DeFi Pulse).
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