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Overview

In this dashboard, I will answer this question from Flipside Crypto:

Q5. 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?

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Introduction

What is Matic on Polygon?

• MATIC is an ERC-20 token, meaning that it's compatible with other Ethereum-based digital currencies.

• MATIC is used to govern and secure the Polygon network and to pay network transaction fees

• Polygon uses a modified proof-of-stake consensus mechanism that enables consensus to be achieved with every block. (Achieving consensus using traditional proof-of-stake requires processing many blocks to achieve consensus.) The proof-of-stake method requires network participants to stake—agree to not trade or sell—their MATIC, in exchange for the right to validate Polygon network transactions. Successful validators in the Polygon network are rewarded with MATIC.

  Ethereum ↔ Polygon Bridge

  Polygon brings you a trustless two-way transaction channel between Polygon and Ethereum by introducing the cross-chain bridge with Plasma and PoS security. With this users can transfer tokens across Polygon without incurring third-party risks and market liquidity limitations. The Plasma and PoS Bridge is available on both Mumbai as well as Mainnet.

  Polygon bridge provides a scaling solution which is near-instant, low-cost, and quite flexible. Polygon uses a dual-consensus architecture(Plasma + Proof-of-Stake (PoS) platform) to optimise for speed and decentralisation. We consciously architected the system to support arbitrary state transitions on our sidechains, which are EVM-enabled.

  There is no change to the circulating supply of your token when it crosses the bridge;

  • tokens that leave ethereum network are locked and the same number of tokens are minted on Polygon as a pegged token (1:1).
  • To move the tokens back to the ethereum network, tokens are burned on Polygon network and unlocked on ethereum network during the process.

  PoS vs Plasma​

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Method

To solve this question,

I have already seen the grand prize dashboard of sushi noobs 2 question because I could not solve that question, now I used the same method to solve this question. For this question, I found addresses that transferred their tokens in Plasma Bridge and Pos Bridge. Then, for these addresses, I set 1 day transaction time in polygon Then I categorized their transactions based on the address that was connected with Bridge users and put them in the graph

The type of transaction made after Bridge to Polygon was determined from the polygon.core.fact_transactions table.

From the form of the question, I understood that the destination refers to contracts that users have been in contact with after bridge to Polygon.

==For this analysis, I set the time condition of June 10, 2022, so that the information is complete, and I used the new polygon database.== ==Among my answers, I removed the hop protocol token contract==

Users with Plasma Bridge have transferred the majority of matic tokens, that's why I used the ethereum.core.ez_token_transfers table.

But in Pos Bridge, I divided the users into two categories: First, I used the ethereum.core.ez_eth_transfers table to find users who have transferred their ethereum to polygon. Then users who have transferred tokens other than ethereum to polygon, which I used the ethereum.core.ez_token_transfers table to find them.

I feel that the values that I have obtained are not accurate, and for this reason, I tried to give a relative explanation in my explanations. This question was very challenging for me and I always study the GP dashboard for this question. Thank you for your time

Chart & Analysis

> # Plasma Bridge

• The graph in front shows that users who transferred matic tokens from Plasma Bridge to Polygon made more transfers with their tokens on the same day of their transfer transaction.
• After that, swap activity is more common than other activities.
• Users in this bridge have not done operations such as staking after transferring their tokens and have mostly done swaps and transfers.

• It seems that a higher percentage of users have swapped their tokens on Metamask on the same day of their transfer transaction.
• But it can be said that the most popular destination for those who have recently used Plasma Bridge are Aave contracts
• Aave: Lending Pool V2  , amwmatic , aave:pool v3 , amweth , aave:awmatic token v3
• These are all contracts related to Aave and users have shown great interest in this platform
• Game tokens Sandbox can also be seen among users' destinations

Chart & Analysis

> # PoS Bridge > > just ETH

• The graph in front shows that users who transferred ETH from Pos Bridge to Polygon made more transfers with their tokens on the same day of their transfer transaction.
• After that, Approval activity is more common than other activities.
• Users in this bridge have not done operations such as staking after transferring their tokens and have mostly done swaps and transfers.

• Observations show that users who transferred with Pos Bridge, Ethereum, went to Aave (amwmatic) contracts more on the same day.

• Swap is still common in Metamask, but this time Aave takes the lead

• Among the 10 popular contracts, 5 of them are related to Aave

• Game tokens cryptounicorns.fun and sunflower-land.com are also seen among users' destinations

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Chart & Analysis

> # PoS Bridge > > other than Eth

• The graph in front shows that users who transferred other than Eth from Pos Bridge to Polygon made more transfers with their tokens on the same day of their transfer transaction.
• After that, Approval activity is more common than other activities.
• Observations show that only a small amount of users who are in this category have engaged in activities such as staking

• But the users who brought their tokens other than Eth to Polygon, their 3 most popular destinations were Aave contracts and sent Metamask swap to the 4th place.
• Out of 10 popular contracts, 7 contracts are related to Aave and only 3 contracts (metamask, quickswap, mapper) are not related to Aave.

Conclusion

1. It can be said that among the analyze conducted, 2 destinations, Metamask and Aave, are more popular for users than others

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2. More users are interested in transferring their Eth from PoS Bridge to Polygon because it is registered in larger numbers

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3. only a small amount of users who are in this category (PoS Bridge other than Eth) have engaged in activities such as staking

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4. In 3 comparisons, transfers transaction type has been done more than other types

Contact data

-> the writer : sajjadsmoke -> discord : sajjadsmoke#5567

Thanks for reading !