Polygon’s average cost per transaction fell 49% in Q2

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The latest update to Ethereum’s rival PoS blockchain, Polygon saw the network publish his Q2 stats. Polygon highlighted its growth data during the ongoing crypto market downturn, noting that the network’s average cost per transaction fell 49% to $0.018 in the second quarter.

Following this, Polygon also saw a 12% increase in unique address creation in the second quarter, amounting to 5.34 million. Additionally, the network noted that the second quarter’s total transactions also rose 4% to 284 million, alongside the network’s revenue of $5.56 million.

The blockchain further stated that the biggest growth statistic is defined via developer activity on the network. The blog noted that,

“Over 90,000 developers have released their first contract. This is more than 3 times the growth rate of the first quarter. On average, 1,000 new creators and 2,700 new deals are uploaded to the channel every day.”

Additionally, Polygon data also showed substantial profits with the NFT Marketplace, with OpenSea registering 1.2 million new NFT wallets going live on Polygon during the second quarter, increasing the total of unique active wallets by 47% to 1.51 million. The message pointed out that “new currencies jumped 50% to 66.65 million transactions. And while the total dollar value of NFT transactions decreased by 64%, transaction volume soared by 47% to 122.45 million.”

DeFi and Web3 growth on Polygon

The post also shed light on the growth of DeFi and web3 projects on the chain. In DeFi projects, a bridge aggregator, Bungee Exchange grew its base by more than 1,000% and its trading volume by 972%.

This was followed by the success of a decentralized exchange that was initially built on the Klaytn chain and rolled out to Polygon in April – Meshswap. The protocol added 91,000 users and processed 1.6 million transactions during the quarter, while becoming one of the beneficiaries of Polygon’s latest liquidity mining (LM) campaign.

Meanwhile, open-source, community-owned NFT protocol Aavegotchi became the largest web3 project on Polygon in Q2 after adding 102,000 users to the Gotchiverse, an 805% increase from Q1.

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