Bridger Destinations

    Where do people go when they bridge to Polygon from Ethereum? * What are the 10 most popular first destinations for Polygon addresses that have just bridged from Ethereum? Date Created 31/7/2022

    Polygon has 2 bridges to connect with the Ethereum mainet: PoS and Plasma.

    The Pos bridge offers more flexibility and faster withdrawals and is mostly used by normal users and the Plasma bridge offers increased security and is mostly used by developers.

    Taking a quick look on etherscan.io you can see that

    PoS Bridge has more than 2.300.000 transactions and

    Plasma Bridge has more than 246.000 transactions on the time of writing.

    etherscan_link_for_bridges_transactions

    First i will show

    Where do people go when they bridge from Ethereum .

    ==Which i defined as==: Find most popular destination addresses by number of unique users and how they change over time.

    Loading...

    As we can see the WETH token address from hop protocol is the first destination with 24% share.

    Quickswap router is the second one with almost 18% share.

    In the top 10 list there are 5 tokens with decreasing share: WETH, USDC, USDT, WMATIC, DAI.

    There are also 4 routers (swap contracts): Quickswap, Metamask, Uniswap v3, 1inch v4.

    There also one Dex which is a general contract: exchange proxy.

    Now let’s see how the top 10 list changes daily in the last month.

    Loading...

    ==We see that the total number of users for the top 10 destinations tripled in the last month.==

    During the month WETH is steadily in the first place with Quickswap router second and ==very close.==

    There are also some addresses on the chart which they didn’t have labels in the data so i used the addresses themselves.

    The biggest one is the 0x3a863e38b448e07431079c7cda79f4ceeee3d1ae which i searched here and found out that is a liquidity pool that holds UFO Token. The second one 0x57194feaca970a4e98a19c365fe144fb54f657db is the contract for the UFO token. If you combine the 2 addresses as activity about UFO token we see that more than tripled in the last month.


    Now we will see the top first destinations that users go to when they bridge to polygon

    Loading...

    As we can see the WETH Token is again in the first place with 37.1% share.

    USDC is in the second place with 14.5%.

    In decreasing order of share are: WETH, USDC, Quickswap router, Metamask: swap router, USDT, 0x48be56, lending pool, 0x4ab071, WMATIC, Opensea.

    There are 4 entries as top 10 first destinations that don’t belong to the top 10 total destinations.

    • ==0x48be56== which is a contract with a mint and burn mechanism for the ==SLI Token== (Sunflower Land Inventory).
    • ==Lending pool== which is the ==AAVE lending poo==l on polygon info_here.
    • ==0x4ab071== which is a contract that interacts with the ==uniswap v2== contract sample_transaction_here.
    • ==Opensea: openstore token== which is a utility token for the opensea marketplace.

    Now let’s see how the above rank changes daily.

    Loading...

    We can see a few patterns in the above chart.

    • WETH Token is in the first place 28 days out of the 30.

    • The list generally stays the same except the last 3 positions which change almost daily.

    • In the last 3 days we see an explosion of users on the ==0x57194f== address which is the TRUTH Token (UFO).

    • There are 5 addresses that are on the list everh day: WETH, USDC, Metamask swap, Quickswap, USDT.

      \

    Conclusion

    From the above analysis we see that the top destinations for users that bridged to polygon are almost identical to the top first destinations and their daily changes doesn’t really affect the top 5 places.

    WETH is the absolute king in all metrics and with USDC, Quickswap, Metamask swap, USDT they close the top 5 places almost every day in both metrics.