The Polygon ecosystem has several updates every week. Therefore, Altcoin Buzz covers some of the updates from the third week in May to keep readers informed.
In this week’s article, Polygon collaborates with EY to launch its latest Web 3 initiative. We also take a look at the top gainers in the Polygon ecosystem.
1 – EY and Polygon Launch Polygon Nightfall
During the week, Polygon partnered with professional services company, EY to launch its latest Web3 initiative, Polygon Nightfall Mainnet Beta.
Polygon Nightfall is a blockchain-based supply chain manager created for the Polygon ecosystem to eliminate bottlenecks when tracing products that enter the market. And the system also leverages inventory management and product traceability when solving bottlenecks.
Besides, it offers “zero-knowledge proof-based privacy technology”, allowing selected entities access to the history of the monitored assets.
Web3 is ready for enterprise. The #PolygonNightfall Mainnet beta is here!
Nightfall is the most efficient blockchain solution for enterprises, enabling businesses to orchestrate private transactions for use in supply chains & other key business functions.
Let’s dive in 🧵 [1/5] pic.twitter.com/9pxC2vpnlD
— Polygon – MATIC 💚 (@0xPolygon) May 17, 2022
2 – Top Gainers in The Polygon Ecosystem
Next, crypto data platform CoinGecko revealed the top gainers (price performance) in the ecosystem. Notably, the report covers a 24-hour time frame on the 18th of May:
- IDEX ($IDEX), a hybrid liquidity DEX recorded the most gain. And it had a 78.3% rate of increase in price performance.
- UniLend Finance ($UFT), a multi-chain protocol for lending and borrowing all ERC-20 tokens has the second-most gain. In fact, it had a 53.2% rate of increase in price performance.
- Kyber Network ($KNC) holds the third-most gain within the specified timeframe. It had a 27.2% rate of increase in price performance.
- Golem Network ($GLM) has the fourth-most gain within the 24-hour timeframe. It had a 17.3% rate of increase in price performance.
- BarnBridge ($BOND) completes the top five with a 4.1% rate of increase in price-performance within the specified timeframe.
Top Gainers in @0xPolygon Ecosystem Last 24H 🚀🚀$IDEX @idexio $UFT @UniLend_Finance $KNC @kybernetwork $GLM @golemproject $BOND @barn_bridge $SUSHI @sushiswap $IOTX @iotex_io $ANKR @ankr $MASK @realMaskNetwork $COMP @compoundfinance #Polygon $MATIC pic.twitter.com/gqYtbJY3Tw
— Polygon Daily (@PolygonDaily) May 18, 2022
3 – Polygon Ecosystem Projects by Trading Volume
Third, dapp revealed the trading performance of Polygon-based decentralized applications (dApps). The report also covers a seven-day timeframe and states that:
- QuickSwap ($QUICK), a next-gen DEX for DeFi has the most trading volume. It recorded $100.38 million within the seven-day timeframe.
- Solo.top, a single-asset mining aggregator is in second place. It had $76.36 million in trading volume within the seven-day timeframe.
- Connext Polygon, a fast, trustless link between chains and rollups comes in third place. It recorded $7.23 million in trading volume within the seven-day timeframe.
- Wormhole Polygon closely follows in fourth with $6.32 million in trading volume within the seven-day timeframe.
Top Polygon Dapps with Highest Weekly Volumes$QUICK @QuickswapDEX@solo_top@connextnetwork@wormholecrypto$OOE @OpenOceanGlobal$BOG @boggedfinance$BANANA @ape_swap$FISH @PolycatFinance$WPC @wepiggydotcom$GEL @gelatonetwork#POLYGON #MATIC $MATIC pic.twitter.com/ze7Ogd7f26
— Polygon Daily (@PolygonDaily) May 13, 2022
4 – Unbound ($UNB) Staking is Now Available on Polygon
Finally, Unbound ($UNB) staking is now live on the MATIC ecosystem. So this is an interesting development that will offer significant rewards to interested users.
Based on the report, interested users can stake their $UNB and earn $500k in UNB rewards for six months pool. Then they can also earn $250k in $UNB rewards for three months pool.
📢Announcement #4
Unbounders,
It’s time to grow your $UNB💰💰Coz we are back with yet another Staking initiative
This time on @0xPolygon!
🗓️18th May 2022
⏰12 pm ISTLock-up period and reward details to follow,
Stay tuned! 💙#unbounfinance #staking $UNB pic.twitter.com/d5fvEMZduo— Unbound (@unboundfinance) May 16, 2022
$MATIC Price Outlook
As of the time of publication, Polygon’s price was $0.638078 with a 24-hour trading volume of $558,739,974. MATIC price also dropped by 4.8% over the last 24 hours. Besides, it has a circulating supply of 6.9 Billion MATIC coins and a total supply of 10 Billion.
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