Introduction

Polygon is one of the most popular L2 networks, It was created to provide a fast, efficient and low-cost blockchain. MATIC is the native token of Polygon and play an increasingly important role, securing the system and enabling governance.

---

In this dashboard, we are going to look at the top destinations that polygon users, new and old, go after bridging their tokens from Ethereum.

Summary

The information collected in this research can be summarized as follows:

• It can be seen that the actions and platforms used by the old and new accounts are very different.
• New accounts mostly use uncategorized platforms, while old users are more likely to bridge once again.
• Hop is a very popular bridge among both users types, while older users might use Across, a less known bridge.

Old Accounts

The charts below show the top actions done by old users after their bridge into Polygon.

These charts also confirm what we saw earlier.

Top Actions

New Accounts

The charts below show the top actions done by new users after their bridge into Polygon. These charts are a supplement to information that we saw in the earlier charts.

• As already mentioned, new users are mostly into uncategorized activities, these activities can include but not limited to the minting NFT, trying new platforms, etc.
• almost 24% of the actions done are related to swap and the same amount is related to bridging again.

Old Accounts

The charts below show the top protocols that old accounts have interacted with after they bridged into polygon.

It can be inferred that:

• A whopping 82% of these users have interacted with HOP bridge, 2.36% with Across bridge. It seems that a very large number of these users have bridged their tokens once again.
• About 15% of the transactions are related to Swap platforms.
• There are a few transactions on gaming platforms like Cyberkongz.

Top Protocols

New Accounts

The charts below show the top protocols that new accounts interact with after they bridge to polygon.

It can be seen that:

• These users mostly interacted with unknown and uncategorized protocols, almost 46% (approximately 3500 tx) of the transactions done after the bridge, are in this category.
• On the second place is Hop protocol, almost 24%, it seems that in the first 24 hours after the bridge, 24% of users do bridge to other blockchains once again.
• Swap platforms are in the next place.
• a small percentage of new accounts are into DEFI, AAVE only consists 3.36% of the transactions.

Methodology

Tables

The following tables are used in this study, mostly new tables are used to access data.

• polygon.core.fact_event_logs → This table is used to access events from the transactions done on Plasma bridge.
• polygon.core.fact_transactions → This table is used to access transactions on Polygon blockchain.
• flipside_prod_db.polygon.transactions → This table is solely used to get the date of first transaction for each user.

Bridge Data

First of all, in order to find Plasma bridge transactions we look at the following website : polygonscan.com/txnbridge

By looking at some of the transactions, it is seen that all of these transactions are sent from NULL address to NULL address,

WHERE 
...  
AND ORIGIN_FROM_ADDRESS = '0x0000000000000000000000000000000000000000'
AND ORIGIN_TO_ADDRESS = '0x0000000000000000000000000000000000000000'
...

Also, the amount and the recipient address can be located in EVENT_INPUTS

  EVENT_INPUTS:to::string as TO_ADDRESS,
  EVENT_INPUTS:value::INTEGER as raw_amount

What are new and old accounts?

• New accounts are accounts that have made their first transaction less than 24 hours before their bridge transaction.
• Old accounts have made their first transaction before 24 hours of bridge transaction.

Time frame after bridge

We are looking for actions that take place 24 hours after the bridge from the Ethereum chain.