Bridger Destinations
Q5. 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?
Polygon is a scaling solution for public blockchains. Polygon PoS supports all the existing Ethereum tooling along with faster and cheaper transactions.
Ethereum↔Polygon Bridge
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.
There is no change to the circulating supply of your token when it crosses the bridge;
- tokens that leave ethereum network are locked and the same number of tokens are minted on Polygon as a pegged token (1:1).
- To move the tokens back to the ethereum network, tokens are burned on Polygon network and unlocked on ethereum network during the process.
To read more about Polygon bridges see:
Method
In this dashboard we will look at bridges to Polygon from Ethereum and most popular destination users have transacted with after bridge.
To find bridge transactions to Polygon I have used ethereum.core.fact_transactions
table and filter the records by this condition that to_address
was equal to 0xA0c68C638235ee32657e8f720a23ceC1bFc77C77 or 0x401F6c983eA34274ec46f84D70b31C151321188b.
where 0xA0c68C638235ee32657e8f720a23ceC1bFc77C77 belongs to https://wallet.polygon.technology
and 0x401F6c983eA34274ec46f84D70b31C151321188b belongs to https://polygon.technology
Also I have used ('0xe3dec8fb','0x4faa8a26','0x8b9e4f93') as origin_function_signature
to filter bridge transactions.
To find most popular destinations I have joined the above results with polygon.core.fact_event_logs
table on users who started bridge transaction.
And finally I have joined the result with polygon.core.dim_labels
table on contract address, to find the name of destination on Polygon.
The following chart shows the number of daily bridge transactions to Polygon from Ethereum.
We can see the most number of bridges was on June 15, 2021 by 15.369K bridges.
Also total number of bridges to Polygon is 2.06M transactions from May 30, 2020 to August 1, 2022.
The following chart shows the number of daily unique users have bridged to Polygon from Ethereum.
We can see the most number of users have bridged was on June 15, 2021 by 10.375K users.
Also total number of users have bridged to Polygon is 1.54M users from May 30, 2020 to August 1, 2022.
The following charts shows the most bridged assets to Polygon based on the number of bridge transactions. We can see MATIC by 52.7% has the most bridges among others.
The following charts shows the most bridged assets to Polygon based on the number of unique users. We can see MATIC by 55.4% has the most users who bridged to Polygon among others.
The following charts shows 10 most popular destinations for users who bridged to Polygon from Ethereum based on number of transaction sent to destination on Polygon.
We can see Hop Protocol (ETH) is the most popular destination by 167.95K transactions. It also allocated 23.5% of transactions.
The following charts shows 10 most popular first destinations for users who bridged to Polygon from Ethereum based on number of transaction sent to destination on Polygon.
We can see WETH is the most popular first destination by 23.348K transactions. It also allocated 32% of transactions.
The following charts shows 10 most popular destinations by number of unique users who transacted with.
We can see WETH is the most popular destination by 36.384K unique users. It also allocated 24.4% of unique users.
The following charts shows 10 most popular first destinations by number of unique users who transacted with.
We can see WETH is the most popular destination by 11.247K unique users. It also allocated 35.1% of unique users.