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.

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.

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.

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.

$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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