Try Quests to earn cryptoPolygon Hard Fork
Methods
Tables I used: I use ethereum.core.fact_hourly_token_prices for matic price, I use polygon.core.fact_transactions for polygon transactions and in this table i count distinct tx_hash for number of transactions and i count distinct from_address for number of users and also in this table i sum tx_fee for transactions fee. I use polygon.core.ez_matic_transfers for amount of tokens transfers. I use polygon.core.fact_event_logs for stakes and in this table i filter transactions with event_name.
Special thanks to Ali for helping me for SQLs
Metrics
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Polygon Network Status
Daily Number of Transactions Transactions Per Second
Transactions Per Hour Transactions Success Rate
Daily Paid Fee on Transactions (USD) Daily Average Transactions Fees (USD)
Average Seconds Between Blocks Average Block Size
Daily Number of Active Users Daily Number of New Users
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Tokens Transfers
Daily Number of Tokens Transfers Daily Volume of Tokens Transfers (USD)
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Polygon NFT Market
Daily Number of NFT Sales Daily Volume of NFT Sales (USD)
Daily Number of NFT Buyers Daily Number of NFT Sellers
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Stakes Activity
Daily Number of Stakes Daily Number of Stakers
Daily Number of Unstakes Daily Number of Unstakers
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Polygon Swaps
Daily Number of Swaps Daily Number of Swapers
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Bridge Activity
Daily Number of Bridges From Ethereum to Polygon
Daily Number of Bridgers From Ethereum to Polygon
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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
Polygon Hard Fork
Polygon, an Ethereum-scaling project, successfully completed a hard fork designed to reduce instances of spiking gas fees and disruptive chain reorganizations known as "reorgs."
The software upgrade occurred at 10:45 UTC (5:45 a.m. ET) on Tuesday, according to a tweet from Polygon Labs, the lead company behind the project.
The two proposals included in the hard fork were put forth in December. Some 87% of Polygon validator teams that participated voted for approval. Only 15 validator teams took part in the voting process, which is extremely low given the number of active validators at a time is limited to 100. The first proposal adjusted a mechanism that sets gas fees – a kind of tax one pays in order to transact on a blockchain. The new mechanism aims to keep gas prices low when there is a lot of activity on the network.
The second proposal aims to reduce the amount of time it takes to complete a data block – part of an effort to prevent frequent reorgs, which occur when a validator node receives information that temporarily creates a new version of the blockchain.
The price of Polygon’s native token, MATIC, is up nearly 15% over the last seven days – in keeping with a broad rally in digital-asset markets.source
Polygon Network Status
As you can see, after the implementation of the hard fork in the polygon network, we did not have a significant increase in the number of transactions, and after the implementation of this event, the number of transactions in this network is still close to 3 million, and this shows that this event is beneficial for users. It has not been a very attractive event. The number of transactions per second and hour did not change much, and this shows that users did not increase their activity after this event. One of the changes that occurred in the polygon network after this event is the percentage of successful transactions, which increased after this event, so that the percentage of successful transactions in this network reached 96%.
The amount of fees paid by users after this event increased sharply, so that this amount was higher every day than the previous day, and the highest amount of fees paid by users was on February 16, when users spent a total of $358,000 on this day. They paid that this was unprecedented in the last 3 months of the polygon network. After this day, the amount of fee paid by users is in a decreasing trend until today.
The number of active users of this network after this event not only did not increase but also decreased a little and it seems that this event did not increase users at all because the previous users of this network did not have much activity, even this event did not attract new users. Because the process of attracting new users in this network has been decreasing after this event.
Tokens Transfers
The number of token transfers in the polygon network has increased after this event, so that the largest transfer was on February 12, when users made 327,000 transfers on this day, and the volume of transfers also increased. It is so that on February 12, users moved 253 million dollars of assets, which is a record low in the polygonal network.
Polygon NFT Market
As you can see in the graph below, the number of NFT sales in the polygonal network increased after this event, and the highest number of NFT sales in this network was on February 8, when the number of users on this day was nearly 9 thousand. FT was sold in this network, and the volume of NFT sales also increased in this network, so that on the same day, users sold 12 million dollars of NFT.
Stakes Activity
After the hard fork of the polygon network, the number of sticks in this network increased and this upward trend continued for a long time so that it reached its peak on February 8, when a total of 4,500 stakes were registered in this network on this day. It has been done by 3000 thousand users in this network.
Polygon Swaps
After this event, the number of swaps in this network increased greatly, and this shows that this event has made users decide to swap their assets with each other. The highest number of user swaps after this event is for February 1, when a total of 228,000 swaps were made on this network, and this number of swaps was made by 33,000 users.
Bridge Activity
As I mentioned earlier, this event did not increase the number of new users to this network, and as you can see in the diagram below, the number of bridges in the ethereum layer one network has not changed at all, and this shows that this event has no effect on the migration of users to It did not have a network.
Thanks for reading
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All data used are from: Flipside Crypto
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My Twitter: Sepehrmhz8
Conclusion
By examining the activity of the users in the polygonal network, we found that the hard fork did not have much effect on the activity of the users, and on the other hand, this event caused an increase in the network, which is not a positive event for this network and may cause the users to be a little less interested in this network. be discouraged, and this happened at a time when transactions did not increase, and with the increase of transactions, the fee may increase even more than the current value, so this network should look for a way to reduce it.
