- Polygon zkEVM has didn’t reside as much as the hype, and in current weeks, its day by day energetic addresses, transactions, and complete worth locked have been dipping progressively.
- Polygon has teamed up with business gamers within the Ramp Up marketing campaign over the whole of February to reignite DeFi on zkEVM with a $50,000 prize pool,
Polygon zkEVM launched final 12 months to a lot hype as the perfect scaling protocol for the Ethereum community, and whereas its expertise stays unquestionable, its efficiency has waned in current months. An occasion that kicked off on February 1st might change all this and supply the Layer 2 answer an opportunity at reigniting DeFi curiosity.
Polygon introduced the marketing campaign this week, boldly claiming that “the DeFi initiatives are coming to Polygon zkEVM.” It has partnered on the initiative with Layer3, an answer for consumer acquisition and retention within the realm of Web3.
The DeFi initiatives are coming to Polygon zkEVM 👀
Get a style on Feb 1st with @layer3xyz and the ecosystem initiatives bringing the warmth. pic.twitter.com/jLQQ2gl12l
— Polygon DeFi | zkEVM Mainnet Beta (@0xPolygonDeFi) January 29, 2024
The Ramp Up marketing campaign may have a prize pool of $50,000, which 18 of the main DeFi platforms will compete for from February 1st to twenty eighth. Customers can earn a share of the reward by taking part within the marketing campaign via a few of the prime DeFi platforms that can participate within the marketing campaign.
Some initiatives which have confirmed their participation embody Sushi Swap, the main decentralized alternate deployed on over 30 blockchains.
Others embody REX Protocol, a feeless order ebook DEX; RoseonX, a gamified derivatives DEX; Thora Finance, a decentralized non-custodial liquidity market protocol; QuickSwap, a Polygon-based DEX; and Gravita Protocol, an Ether-based borrowing protocol for liquidity staking tokens.
Mantis Swap, Aboard Change, Dyson Finance, Converge Change and Dirac Finance additionally confirmed their participation. Pancake Swap, the main DeFi protocol native to the BNB Chain, can be among the many members.
Whereas asserting its participation, perpetual futures alternate D8X said, “Dive right into a world of DeFi Innovation! Be a part of this extraordinary journey the place DeFi meets alternative. It’s greater than an occasion; it’s the way forward for finance—ramping up!”
Can the Ramp Up Marketing campaign Revive Polygon zkEVM?
The subsequent 4 weeks will likely be crucial to Polygon zkEVM and any aspirations it harbors to turn out to be Ethereum’s final scaling answer. Its efficiency over current months has dipped, and a concerted effort by main DEXes might be the Hail Mary that reverses the development.
Polygon zkEVM has witnessed a dip in day by day energetic addresses over the previous month, from a peak of 21,560 in late November to the newest determine of 5,800, which is near a 75% wipeoff. With the dip in addresses has come a consequent drop in transactions, which, after peaking north of 100,000 in November, have barely hit 30,000 in two months.
Predictably, the whole quantity locked has additionally dipped from a peak of $23 million to $14 million at press time. The one metric that had some consistency is income, which has held at round $10,000 regardless of some volatility within the first half of December.
MATIC, the community’s native token, has elevated 5% previously day and 10% over the previous week to commerce at $0.808 at press time.
