Overview of Polygon's ecological landscape: there are more than a thousand ecological projects, and DeFi, NFT, and games dominate
Written by: angelilu
Written by: angelilu
Recently, Polygon has alsoAnnounceAnnounce
Active acquisition and expansion, as well as non-stop development, have made the scale of Polygon bigger and bigger, and the projects in its ecology have also increased. According to Polygon's official statisticsdatadata
, the number of projects in the ecosystem has reached 1,446, dominated by DeFi, NFT, and games, including nearly 500 DeFi projects, more than 200 games, more than 200 NFT and Metaverse projects, and other types of projects. Foresight News is now sorting out the following projects with a TVL of more than 2 million U.S. dollars and newly developed projects to read Polygon's ecological development.
QuickSwap
QuickSwapPolygon native DeFi application
Klima DAO
Klima DAOIt is the original decentralized exchange (DEX) on Polygon. As of the publication, the total lock-up volume (TVL) of QuickSwap is 767.2 million US dollars, which is currently the largest DEX on Polygon. According to DefiLlama, QuickSwap's TVL ranks 17th among all DEXs.
Sphere Finance
Sphere FinanceIt is a decentralized autonomous organization deployed on Polygon, through the carbon-supported algorithmic currency KLIMA tokens to promote the solution of insufficient liquidity, low transparency, and low efficiency in the carbon market. According to its website, Klima DAO absorbs 17.2 million tonnes of carbon.
Gravity Finance
Gravity FinanceIt is a DeFi protocol that provides automatic pledge and compound income. Its goal is to transform into a DeFi index fund, similar to the S&P 500 index in the traditional financial world. Through its roadmap, Sphere Finance plans to launch a positive-sum lottery game in Q2, and in Q3 to incentivize other protocols to participate in Sphere Wars.is a DeFi platform consisting of a decentralized exchange, yield farm, automated compounding vault, IDO Launchpad, and automated investment strategies called Silos. Gravity management fees are paid to governance token holders in ETH and BTC. Gravity Finance's TVL was $10.75 million, with rapid TVL growth for the week of April 12, 。
Gains Network
Gains Networkincreased by 8019%
Tidal Finance
Tidal FinanceIt is a decentralized leveraged trading platform on Polygon, which supports more than 40 cryptocurrencies and leverages up to 150 times.
Polymarket
Polymarketis a decentralized insurance protocol on Polygon that creates custom insurance pools for one or more protocols. Users can participate in Tidal Finance through four roles: insurance deposit provider, insurance buyer, guarantor, and TIDAL pledger.
VESQ
VESQIt is a decentralized prediction market on Polygon. Users can build investment portfolios based on their views and predictions on current topics. If the predictions are correct, they will be rewarded.
GOGOcoin
GOGOcoinIt is a decentralized reserve currency protocol based on VSQ tokens on the Polygon network, and is a branch of Olympus on the Polygon (MATIC) network.
It is a decentralized asset management and savings protocol on Polygon, currently offering two DeFi products:
Users pledge GOGO tokens once to get gGOGO (for future governance and voting) and protocol rewards.
Liquidity mining, provide liquidity (50% USDC and 50% GOGO) to QuickSwap and get LP tokens, LP tokens can be used to get GOGO token rewards.
Compared with the Ethereum main network, Polygon has the advantages of faster transaction speed and lower cost. These advantages also make the DeFi applications of the Polygon ecosystem flourish. Many DeFi projects such as Aave and Curve have been extended to Polygon.
DEX
secondary title
loan agreement
loan agreement
MarketAmong all protocols on Polygon, Aave has the highest total locked-up amount, which shows that Polygon's low cost and other advantages also create a good basic condition for the development of lending protocols. Other lending protocols on Polygon include:
dForce: Market is a lending protocol. Its isolated pool mechanism supports any user to create a fund pool for lending assets, and the risk of one market will not overflow to other markets.
Mimo DeFi: dForce aims to become a full-stack solution for DeFi, covering assets, lending, and trading. dForce Lending is a pool-based multilateral lending agreement, and the interest rate is driven by market demand. Funds provided to dForce Lending will be automatically converted to iTokens as a receipt for your deposit.
Hundred Finance: Mimo is a decentralized mortgage stablecoin protocol, the token PAR is pegged to the euro through the collateral locked in the smart contract vault, and the mortgage rate on the Polygon network is 385%.
RAMP: Hundred Finance is a multi-chain lending protocol that integrates voting escrow (veHND) token economics in protocol governance management, using Chainlink oracles.
EasyFi: RAMP is an optimized lending platform, users can obtain the best high-yield returns from their deposit assets, while staking stablecoins to obtain additional liquidity to seek other investment opportunities, and can span multiple blockchain networks to visit.
Timeswapsecondary title
liquidity management
liquidity management
Arrakis Finance
Arrakis Finance(formerly G-UNI) is a liquidity management tool launched for Uniswap V3 by Gelato Network, an automatic execution tool for Ethereum smart contracts, and has accumulated a TVL of more than 500 million US dollars. After Uniswap listed Polygon, Polygon and Arrakis Financereached a cooperationreached a cooperation
, to provide liquidity mining rewards for Uniswap.
TetuIn addition, protocols for managing liquidity on Polygon include:
Stake DAO: Tetu is a Polygon-based Web3 asset management protocol, dedicated to providing high and stable investment returns for DeFi investors, providing automated income aggregation and distribution through revenue tokenization xTETU.
Impermax Finance: Stake DAO is a revenue-sharing DAO that tokenizes Stake Capital's DeFi services and uses Staking derivatives to unlock more decentralized products. Stake Capital DAO distributes the value generated by a package of DeFi services to stakeholders.
Kogefarm: Impermax supports users to become liquidity providers through a single token deposit, enabling liquidity providers to leverage their LP tokens.
Adamant Financesecondary title
yield aggregator
yield aggregator
Beefy FinanceIn addition to the native revenue aggregation protocol Sphere Finance on Polygon mentioned above, the revenue aggregation protocols that support Polygon also include Beefy Finance and Harvest Finance.
Harvest Finance: Harvest Finance is a revenue aggregator that centralizes users' funds, saves Gas costs and increases the annual rate of return through an automatic compound interest mechanism. The TVL on the Polygon network is 7.74 million US dollars.
secondary title
insurance agreement
InsurAceIn addition to the native insurance agreement Tidal Finance on Polygon mentioned above, insurance agreements supporting Polygon also include InsurAce and Guard.
Guard: Guard is the first peer-to-peer (P2P) price protection insurance agreement launched on BNB Chain (formerly Binance Smart Chain), in the form of helmet.insure, and now multi-chain supports the Polygon network. for $4.49 million. Guard supports users to create insurance policies for all encrypted assets in the market, protecting DeFi users from the risk of price fluctuations. Strategy trading on Guard is market oriented without complicated math.
other
PoolTogether
PoolTogetherother
CompliFi
It is a non-destructive lottery savings project. The interest of depositors’ deposited funds constitutes a prize. Depositors have the opportunity to win prizes while saving. If they do not win prizes, they will not lose their principal.
DFX Finance
DFX FinanceCompliFi is a decentralized derivative with no defaults, no margin calls, and no liquidations.
Qi Dao
Qi Daois a decentralized protocol for stablecoins.
is Polygon's first native stablecoin protocol, with loans disbursed and repaid in MAI, a USD-pegged stablecoin. QiDao's components include over-collateralized vaults, smart pools, decentralization and user management, the stablecoin MAI, and the protocol's governance token Qi.
LUXY
LUXYNFT/Metaverse
GameFi
Crazy Defense Heroes
Crazy Defense HeroesIt is an NFT trading market. LUXY was established in March 2021. After nearly a year of development, it was launched on Polygon on April 21. LUXY claims that it will realize NFT transactions at zero fees. LUXY will adopt a multi-chain deployment strategy and will expand to other chains later. After the launch of LUXY, it will fill the gap in the Polygon ecological NFT trading market.
It is a free tower defense mobile game combined with Play to Earn. According to DappRadar data, Crazy Defense Heroes is currently the game with the most users on Polygon. Crazy Defense Heroes is developed by TOWER, and TOWER is developing a game that will allow users to earn TOWER tokens using NFTs within Crazy Defense Heroes.
Sunflower land Sunflower land (on Polygon only)
Cometh
ComethIt is a blockchain farming simulation game on Polygon that can be planted, felled, mined, crafted and collected in Sunflower Paradise. Sunflower Land launched its public beta on April 7th and in-game item casting on April 15th, allowing players to craft items and trade them on OpenSea. Its token SFL will start trading on May 9.
Planet IX
Planet IXis a blockchain game that allows users to own revenue-generating NFTs, integrating DeFi and NFT functions into a single, fun gaming experience.
Monster Champions
is an NFT-based strategy and game. Players contribute to building a better Odaily by acquiring and farming land in the form of NFT.
Pegaxy
Monster Champions (MC) is a blockchain-based TCG monster fighting game on the Polygon network, where players will explore, fight, trade and learn as a community.
metaENGINE
metaENGINEPegaxy is a Polygon eco racing game.It is Polygon's ecological Web3 game platform, designed to help GameFi developers build metaverse game tools. metaENGINE launched in March of this yearCompleted $4 million in seed round financing
Web3
Lens Protocol
Lens Protocol, Lemniscap and Jump Crypto led the round, with participation from Polygon Studios, Insignius Capital, Future Fund, CoinDCX Ventures, Efficient Frontier, and others. The funds raised will be used to help make it the core of the Metaverse experience.
OurTube
OurTube will build an open source Web3 video sharing application, and is committed to becoming a "decentralized YouTube" based on Polygon. Suhail Kakar, a software developer at Nordstone, a British mobile application development company, published an article introducing OurTube's GitHub code. The application is developed based on Polygon. In addition, Tailwind CSS, React.js, Solidity, Ethers.js, Infura IPFS, Alchemy Node and other development languages or tools are also used.
infrastructure
PolyStarter
PolyStarterIt is a decentralized project accelerator on Polygon, and its main goal is to incubate and launch high-quality innovative projects on Polygon. PolyStarter's capabilities also include facilitating project funding, screening and vetting, providing production tools, and channeling liquidity.
wallet
Phantom
wallet
In addition, most Ethereum-compatible wallets support Polygon, such as BitKeep, MetaMask, Coinbase, Rainbow, Ledger, TrustWallet, TokenPocket, etc. According to Polygon's official statistics, there are as many as 67 wallets that support the Polygon network.
Cross-chain
Stargate
StargateCross-chain
In comparison, other cross-chain protocols that support the Polygon network have a lower total lock-up amount. The TVL of cBridge on the Polygon network is US$40.76 million, that of pNetwork is US$10.24 million, that of Hop Protocol is US$10 million, and that of Connext is US$4.85 million.
summary
summary
In the context of more and more applications adopting multi-chain deployment, the Polygon network has become a popular candidate for a multi-chain strategy. Although under the squeeze of various Layer 1 blockchains, Polygon's TVL has declined as a whole compared to 2021, with a TVL of 4.08 billion US dollars, falling from fourth to seventh in the total lock-up volume last year.
Polygon Consensus 2022
In addition, in order to encourage the development of ecological projects, Polygon has launched its KPI-based liquidity mining, which distributes rewards to DApps that meet the standards based on KPI data such as the average number of users per week or TVL. In the first EPOC, 28 projects qualified for the competition. It will be re-evaluated every subsequent month, and the project community needs to submit an application before the 15th of each month. This move will encourage more and more projects and communities to expand and grow.
