Project : Polygon

Bounty Name : NFT Wallet Behavior Comparison

Question: we want to see not just a summary of the best data analysis, but a functioning front-end, plus a competent and insightful narrative to help readers understand the data. Dashboards must be industry-standard level and offer high-level insights to be considered for the grand prize

Date of analysis : 2022-07-31

What is Polygon?

Polygon is a stack of protocols designed to fix Ethereum’s scalability issues. The Polygon network addresses the network’s challenges by handling transactions on a separate Ethereum-compatible blockchain. 

Polygon then returns transactions to the main Ethereum blockchain post-processing. This approach lowers the network load on Ethereum. In doing so, Polygon can speed up transactions and lower transaction costs to less than a cent.

In other words, Polygon, formerly known as Matic network, provides an easy framework for new and existing blockchain projects to build on Ethereum without scalability issues.

Using Polygon, users can interact with any decentralized application (DApp) without ever having to worry about network congestion.source

Methods

Tables I used:

flipside_prod_db.ethereum.token_prices_hourly

flipside_prod_db.polygon.transactions

polygon.udm_events

ethereum.udm_events

polygon.core.fact_blocks

polygon.core.fact_event_logs

Metrics

• Matic Price
• The type of transactions with Matic
• Total Active Wallets on Polygon
• Active Addresses
• Number of new addresses
• Average Number of New Addresses
• Top 10 Wallet Addresses Based on Number of Transactions
• Polygon Daily Transactions Volume
• Daily Fees (USD) on Polygon
• Sushiswap Top Pool on Polygon , Daily number of swaps in top SushiSwap pools
• Total SushiSwap Users on Polygon
• Daily number of swaps on Top UniSwap pools polygon , Total Uniswap Users on Polygon
• Transactions/Block , Daily Blocks/Second
• Daily Number of NFT Sellers and Buyers , Daily Sales Volume of NFTs

In the cryptocurrency market, the price is a very decisive factor and the price changes the behavior of users so, for this reason, networks in the cryptocurrency market should pay a lot of attention to their native token

The nature of the cryptocurrency market is volatility, which means there are many ups and downs in this market so, despite this, the networks should try to remain stable in these fluctuations and most importantly, take care of their token. The cryptocurrency market has been continuously falling since the beginning of the new year and the native token of the Polygon network, Matic, fell like other currencies . The behavior of users with Matic Token has not changed much after the crash and the important thing is that the volume of users' use has decreased a lot, which means that after the drop, users don't have much desire to use it.

Simultaneously with the increase in the price of Matic since June, the volume of users has also increased.

As I mentioned before, the price has a great impact on a network and you see in chart above after the price reduction started this year, the number of active wallets in this network has decreased relatively, and this is the effect of the price in the network that I said. The number of transactions in the graph below shows that users are not very eager to make transactions even after the drop. Polygon network after price drop has not attracted many users

Conclusion

The value of the native token of the network is very important for the activity of that network, and with the loss of its value, the users of that network also reduce their activity.

Thanks for reading

All data used are from Flipside Crypto

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