What is Polygon Bridge ?

The Polygon Bridge is a trustless cross-chain transaction channel between Polygon and Ethereum. It allows users to transfer ERC tokens and non-fungible tokens (NFTs) to the Polygon sidechain, all through the use of smart contracts.

Polygon brings you a trustless two-way transaction channel between Polygon and Ethereum by introducing the cross-chain bridge with Plasma and PoS security. With this users can transfer tokens across Polygon without incurring third-party risks and market liquidity limitations. The Plasma and PoS Bridge is available on both Mumbai as well as Mainnet.

Polygon bridge provides a scaling solution which is near-instant, low-cost, and quite flexible. Polygon uses a dual-consensus architecture(Plasma + Proof-of-Stake (PoS) platform) to optimise for speed and decentralisation. We consciously architected the system to support arbitrary state transitions on our sidechains, which are EVM-enabled.

Source: Polygon Docs

On the above chart, we can see Weekly number of bridge transactions from Ethereum to Polygon over time.

As we see, the highest number of bridges was achieved during June and May 2021.

Before these dates, we can see very low number of bridge transactions from Ethereum to Polygon.

Also after June 2021, we have again a low trend of bridge transactions over time till January 2022 when we have some other high spikes.

But after February 2022, we can see the number of bridgers and bridge transactions have decreased dramatically over time.

And on the left chart, we can see PoS bridge (which was recommended by Polygon team based on project docs) have the highest share of bridge transactions.

We can see more than 81% of bridger users have done their bridge transactions via PoS bridges. (733,983 unique users)

Moreover, more than 88% of total bridge transactions (1,786,138 transactions) were made by PoS bridge.

On the left chart, we can see Top 15 popular destinations (labeled) by number of transactions that bridgers firstly interact with them when they bridge their asset from Ethereum to Polygon.

Btw, their labeled address seems not to be correct because for example the destination that is labeled az “Hop protocol ETH” is exactly the WETH token on polygon (based on PolygonScan).

So, we can conclude that destinations which have hop protocol in their label are actually the token that new bridges are maybe transferring their asset to them.

We can also see some interesting destinations such as Opensea store, Sushiswap router, Quickswap router, aavegotchi NFTs and AAVE V3 pool and lending pools on the list of most 15 popular destinations.

And on the left chart, we can see Top 15 popular destinations (labeled) by number of bridgers that bridgers firstly interact with them when they bridge their asset from Ethereum to Polygon.

The result here is a bit different from the last one and we can see Uniswap (NFT Positions) and Sandbox and Sushiswap and Quickswap and Opensea and Aave on this list.

(same as above chart their labeled address seems not to be correct because for example the destination that is labeled az “Hop protocol ETH” is exactly the WETH token on polygon (based on PolygonScan).

So, we can conclude that destinations that have hop protocol in their label are actually the token that new bridges are maybe transferring their asset to them.

And since the labeled results may be Illusory, on the above charts, I have exctracted the top 15 popular destinations by the contract address that the early bridgers have interacted with them in both terms of number of users and number of transactions.

Conclusion:

Based on the above analysis, we have realized that:

• There are 2 main Bridges for bridging from Ethereum to Polygon which are PoS Bridge (0xa0c68c638235ee32657e8f720a23cec1bfc77c77) and Plasma Bridge (0x401f6c983ea34274ec46f84d70b31c151321188b).
• PoS bridge has the most share of bridge transactions with more than 85% of them. This bridge is also recommended bridge by Polygon team.
• The total number of Bridge transactions from Ethereum to Polygon is 2025813 Transactions.
• These bridges were done by 805164 Unique Wallets.
• The average number of bridge transactions made by a user is 2.516028 Bridges.
• Matic, USDC and USDT are the top 3 popular assets to bridge from Ethereum to Polygon.
• Most number of Bridge transactions were made during June and May 2021, the total trend of bridge transactions and bridges is significantly decreasing over time especially during recent months thanks to the bearish market!
• Destinations such as ETH token, USDC, DAI, Opensea store, Sushiswap router, Uniswap, Quickswap router, aavegotchi NFTs and AAVE V3 pool and lending pools on the list of most 15 popular destinations.
• After excluding Hop Protocol (token names) destinations, Quickswap router is by far the most popular Destination by New bridgers to Polygon. After that, we can see some destinations such as Metamask swap router, Lendingpols, Uniswap positions, Unicorns (NFT), Aavegotchi NFTs, Aave v3 Pool, Opensea Store and etc on the most popular desitnations for early bridgers to Polygon from Ethereum.
• Transfer is the most popular actions made by early bridgers.

==Discord: Ali3N#8546==

And on the 2 above charts, we can see the most popular actions made by early bridgers from Ethereum to Polygon (by event_name column)

As we see, Transfer is by far the most popular action made these users and after that we can see some Approval and Swap transactions.

On the 2 above charts, we can see Top 10 most popular assets to get bridged from Ethereum to Polygon.

As we see, Matic token is the most popular asset for bridging from Ethereum to Polygon with more than 239k bridges made by more than 166k users.

After that, we can see USDC and USDT are the second and third popular assets to bridge from Ethereum to Polygon

On the left chart, we can see top 10 all time bridgers from Ethereum to Polygon.

As we see, the wallet address 0xfa35113163bfd33c18a01d1a62d4d14a1ed30a42 has made the most number of bridges (7607 transactions!) and is by far the first one in this chart.

Based on the above data, we can see the total number of Bridge transactions from Ethereum to Polygon is 2025813 Transactions.

These bridges were done by 805164 Unique Wallets.

The average number of bridge transactions made by a user is 2.516028 Bridges.

Methodology:

For identifying the Bridges addresses from Ethereum to Polygon, I have done a bridge transaction and found the bridge contract address which is 0xa0c68c638235ee32657e8f720a23cec1bfc77c77 (PoS Bridge).

Also, By searching in Etherscan, I have found another contract address 0x401f6c983ea34274ec46f84d70b31c151321188b which is related to Plasma Bridge.

Moreover, the event name for bridging from Ethereum to Polygon is deposit. So, I have filtered the results for 0xe3dec8fb, 0x4faa8a26 and 0x8b9e4f93 origin function signatures which are related to the deposit (which means bridging from Ethereum to Polygon).

So, based on the above fact, we can extract the bridges from Ethereum to Polygon.

Btw, since the data on Polygon tables started from 6th June 2022, for the parts when we are analyzing data on Polygon tables, I have set the starting timespan for Ethereum tables to start from 6th June 2022 for clearer results.

In this dashboard, I am going to:

• Calculate the number of Bridges and Bridgers from Ethereum to Polygon (Total and Over Time and Average).
• Extract top 10 Bridgers from Ethereum to Polygon.
• Chart top 10 popular assets to bridge from Ethereum to Polygon.
• Chart distribution of bridges from Ethereum to Polygon by Bridge Type (PoS or Plasma).
• Check 15 popular destinations when users bridge from Ethereum to Polygon (By Number of Users and Number of Bridges).
• Check 15 popular actions (by event name) when users bridge from Ethereum to Polygon (By number of Users and Number of Bridges).

Destinations:

As mentioned at the start of the dashboard, from now on I am filtering bridge transactions timestamps from 6th June 2022 for a clearer results, because the polygon tables are starting from this date.

On the above 2 charts, I have filtered out the destinations which had Hop protocols in their names (which we have realized they are the same token addresses on Polygon blockchain).

In this term, we can see Quickswap router is by far the most popular Destination by New bridgers to Polygon.

After that, we can see some destinations such as Metamask swap router, Lendingpols, Uniswap positions, Unicorns (NFT), Aavegotchi NFTs, Aave v3 Pool, Opensea Store and etc on the most popular desitnations for early bridgers to Polygon from Ethereum.