2. Question statement:

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?

In this dashboard, I will talk about the destinations of users after bridging from Ethereum to Polygon and I will discuss the possible reasons for the presented data and conclusion.

Table of contents:

1. Introduction.
2. Question statement.
3. Methodology.
4. Ethereum_Polygon bridge.
5. Where do people go when they bridge to Polygon from Ethereum?
6. What are the ten most popular first destinations for Polygon addresses that have just bridged from Ethereum?
7. Conclusion.

1. Introduction:

Polygon, known as the ‘Ethereum’s internet of blockchains’, is an Indian blockchain platform and framework that connects and creates blockchain networks compatible with Ethereum. The main reason for Polygon is to increase speed and decrease the cost of transactions.

because Ethereum provides lots of access and facilities, and because of this wide range of possibilities, the Ethereum blockchain deals with lots of traffic, and the costs of transactions are high (Rahul_April5).

Polygon is a layer 2 aggregator for Ethereum to expand its size and help users participate in the latter atmosphere with lower fees and faster transactions (Ibid.).

Polygon is a complex Defi ecosystem which offers users a wide range of modules they can use and configure to make their Ethereum-compatible blockchain. Blockchains launched on Polygon are based on its PoS sidechain that leverages a network of validators off the blockchain and moves on to the Ethereum main chain to finalize the transactions (NImasadjadi-9845_26Jul2022; also, for more information, c.f. WikiPolygon).

Table I: PoS vs Plasma​ (WikiPolygon).

5. Where do people go when they bridge to Polygon from Ethereum?

The presented charts show that from the perspective of the nature of the activity, the users usually withdraw their tokens after bridging them from Ethereum to Polygon. however, around 24 per cent of those tokens have been used for approved activities.

The charts showing The Bridge destinations tokens, demonstrate that the most popular tokens being bridged from Ethereum to Polygon are WETH, USDC, MUST, USDT, DAI and etc.

3. Methodology:

   In this Dashboard, at first, I Will give a brief introduction of the Polygon, then I will talk about the Ethereum_Polyon bridge, and then I will show my queries. the first query will be concerning bridge destination events, then another query about bridge destination tokens and the last query is about the bridge destination contract, which deals with the destination platforms.

4. Ethereum_Polygon bridge:

   Polygon provides a trustless two-way transaction between Polygon and Ethereum by the cross-chain bridge with Plasma and PoS security. Users can transfer tokens across Polygon without dealing with any third-party risk and market liquidity limitations (WikiPolygon). Polygon uses a dual-consensus system (Plasma + Proof-of-Stake (PoS) platform) to improve speed and decentralisation (Ibid.).

   Le Point fort of the bridge on Polygon is two things:

   1. The tokens that leave the Ethereum network locked and the exact token amount are minted on Polygon (1:1).
   2. To return the token to Ethereum. Tokens are burned on Polygon and unlocked on the Ethereum network during the process.

6. What are the ten most popular first destinations for Polygon addresses that have just bridged from Ethereum?

7. Conclusion:

   In the presented charts and texts, I showed the most bridge destinations from Ethereum to Polygon from the token, contract and activity point of view. the most usual activity after the bridge is Withdraw, the most frequently used platform is Hop protocol, and the most bridged token is WETH.

The demonstrated charts show the most frequent bridge destinations from Ethereum to Polygon. The most visited platforms are hop protocol, quickswap and metamask respectively by 29.9, 26.9 and 20.6 per cent.