As the year 2024 came to an end, the team at Polygon said it was clear that the past year was a mix of significant progress as well as challenges.
The team at Polygon has provided a quick recap of the key developments from the past year.
As covered, Polygon is described as a DLT scaling solution for the Ethereum blockchain that allows for quicker and considerably cheaper transactions:
Polygon is a Layer 2 sidechain that runs alongside or in parallel with the Ethereum (ETH) main chain. It was previously known as the Matic Network.
Here are some of the positive developments, according to Polygon:
- Real Adoption: 6.5M monthly active users (#8 chain), 1.5M super users added (#1), and 3M active stablecoin users (#3) with 51M transfers (2.5x growth). On Polygon PoS.
- Consumer UX Focus: 1M monthly active smart accounts (#1), leading UX innovation for consumer use cases. On Polygon PoS.
- Developers’ Choice: 6th in full-time devs (330), weekly commits (4,805), and 3rd in total repos (29.5K). On Polygon PoS.
- Grants: $17M deployed across 114 grants to empower builders.
- Agglayer: Shipped Plonky3 (faster ZK proofs) and launched Agglayer with 10+ infrastructure providers contributing.
Here are the challenges according to Polygon:
- Bridge Flows: $4.2B inflows (#6), with net flows at -$250M, reflecting dynamic liquidity movement.
- Polygon zkEVM: Active addresses, TVL, and full-time devs declined by over 40%, showing areas for growth.
- Polygon CD𝗞: Despite 200+ builders showing interest, only 8 chains launched as the stack was continuously refined.
Is Polygon an EVM onramp for developers, a stablecoin payments hub, or a multi-chain aggregator? While the narrative evolves, 2025 is “poised to align, innovate, and leapfrog ahead.”
A powerful reminder from Steve Jobs‘s biography:
“The mark of an innovative company is not just coming up with new ideas first, but knowing how to leapfrog when it finds itself behind.”
That’s the opportunity ahead for Polygon in 2025, the developers claim.