Introduction

Polygon bridge provides a low-cost flexible transfer which won’t make any change to the circulating supply of token when it crosses the bridge.

Tokens that leave ethereum chain are locked and the same number of them will be mint on Polygon like a pegged token (1:1).

Note: Circulating Supply is the total number of coins or tokens that are actively available for trade and are being used in the market and in general public.

Question

Where do people go when they bridge to Polygon from Ethereum?

What are the 10 most popular first destinations for Polygon addresses that have just

bridged from Ethereum?

Transactions number of bridges with volume of bridgers over the past month along with chart of current year has been showed in above.

Comparing chart of them shows significant decrease on total chart of 2022. As you can see both users and transactions of 2022 chart increased until mid-February and started to lose volume from then and continues that way until now.

We also have cumulative charts of two time period in number users who have bridged from Ethereum and transactions number of them. Since the beginning of January almost half a million users attempted to bridged to Polygon by 721K as total transactions number.

There are more than 10 types of transactions and as you can see most of users who bridged their assets interact with Transfers.

This type of transaction has near 1M number that have done by 25K users since June 6th.

2nd biggest volume of transactions belongs to Approval by 415K and 19K users.

Between tokens that have been bridged to Polygon network, WETH has the most bridged volume by 1.6M tokens.

Percentage share of WETH among top 10 tokens is 69 and USDS as second top token that had been bridged by 340K has 14%.

Key Findings

Hop protocol is the most popular destination for Polygon addresses that have bridged from Ethereum.

Most popular token that has been bridged to Polygon network is WETH.

Hop protocol use number of addresses for bridging.

In order to see most popular first destinations from Ethereum I have joined Hop addresses to get the clear results.

Our pie chart shows this protocol as most popular destination followed by Quickswap and Metamask swap router.