March 28, 2023
Polygon News

Polygon PoS: Sept. 27 to Oct. 3 (2021) Week Performance

Polygon PoS Engagement Growth

Polygon’s daily active users (DAUs) soared to great heights lately, claiming a whopping 61.36% week-over-week (w-o-w) growth. That cements 6 consequent growth weeks for Polygon PoS, as its DAUs multiplied 2.6x within 28 days only.

In the previous month, Polygon’s growth rates saw a steady rise. It went from +0.73% to +61.36% in the preceding week. This growth enables Polygon to make available enhanced access to web3 compared to Ethereum. Polygon has been witnessing a higher DAU number ever since October 1st when compared to Ethereum. Polygon attracted 99.2% of Ethereum’s DAUs weekly.

Compared to Binance Smart Chain (BSC), Polygon has risen considerably, as well. Last week Polygon rose 45.48% as against BSC’s active users. Polygon’s strides are shown in the chart below:

User growth is primarily stemming from rising cohort sizes. In the previous week, 361.4k new addresses’ network interactions occurred (a 60% w-o-w rise).

Apart from cohort size, retention in the recent weeks has also been sparing pretty well, more so in the last cohort. Since July 2021’s Cohort 30, none of the cohorts have claimed a place in the top 50% retention quartile. Only last week though, week 1 retention rate stood to be 36.71%.

The rising user growth still witnessed Polygon PoS transactions being 6.26mm—declining -4.26%. Still, per user transactions stay high even against other affordable chains. At present, transaction per address is 13.48 (still more than BSC 5-10 range).

Polygon PoS Monetization Growth

Network revenues rose 26.61% last week, but revenues fell -32.57% this week. Volatility remains in network fees since the last couple of months.

The reason cited for this drop is falling average cost per transaction. Transaction costs declined -29.57%, staying at $0.00418. This low transaction cost treatment has existed since July 2021. It signals great potential in Polygon PoS as it keeps scaling even with transaction costs maintained below a cent. User growth is essentially emanating from beyond DeFi. Arc8, Neon District, and Revv Racing gaming titles on Polygon are hugely adding to w-o-w contributions on the Polygon PoS.