Polygon (MATIC) Looks to Extend Growth as PoS Activity Soars

• Activity on Polygon’s PoS network has witnessed an unprecedented surge.
• OKX’s adoption of Polygon CDK has hinted at a significant shift in crypto exchange strategies.
• The Polygon PoS network has achieved remarkable milestones in volume and TVL.

Activity within the Polygon (MATIC) scalable Proof-of-Stake (PoS) network has experienced a remarkable surge over the past week. Sandeep Nailwal, the founder of Polygon, highlighted a staggering count of approximately 17 million transactions conducted on the network between November 17 and 18.

OKX Crypto Exchange Utilizes Polygon CDK

Referencing insights derived from Token Terminal, Nailwal emphasized that the blockchain had yielded a substantial $1.2 million in revenue for its stakers.

However, the unfolding narrative extended beyond these figures. Recently, Today in Polygon, a dedicated channel monitoring network developments, disclosed additional significant events. One of the revelations was the utilization of the Polygon Chain Development Kit (CDK) by the crypto exchange OKX.

Polygon Chain Hits $400M DEX Volume

The Polygon CDK provides a platform for web3 projects to construct an open-source framework for a Layer-two chain. Even Layer-one projects aspiring to transition into Layer-two can leverage the capabilities of the CDK.

The post underscored the Polygon PoS network’s achievement of $400 million in DEX volume. Not to be overlooked was the mention of the Polygon zkEVM, which experienced a notable surge in its Total Value Locked (TVL) by 12% within the last seven days.

Among the various milestones, the surge in TVL signifies a considerable allocation of liquidity toward protocols operating within the Polygon chain. Concurrently, MATIC has remained an integral participant in this unfolding narrative, aligning with the trends observed across other metrics.

On the Flipside

• The success of the CDK will depend on its ability to attract and retain a diverse range of projects and users.
• It’s important to compare the volume figure to other major decentralized exchanges to gauge the network’s relative market share and competitive positioning.

Why This Matters

The escalating traction within Polygon’s (MATIC) network unveils a profound evolution in the realm of Layer-two solutions, fostering increased scalability and efficiency. This surge not only solidifies Polygon’s position but also underscores the growing recognition and adoption of advanced blockchain frameworks.

To learn more about Sandeep Nailwal’s comparison of the flourishing Polygon DeFi activity with Arbitrums, read here:
Nailwal Likens Thriving Polygon DeFi Activity to Arbitrum’s

To delve deeper into the surge in Polygon’s DEX volume reaching an 8-month high amidst an 895% surge, read here:
Polygon DEX Volume Catapults to 8-Month High Amid 895% Surge