A significant activity is noticed in the decentralized finance (DeFi) ecosystem on Polygon. In the Polygon ecosystem, Uniswap ($UNI) emerges as a leading decentralized application (dApp) by weekly volume. As per the data shared by DappRadar, Uniswap has surpassed $514 million in weekly transactions past week, securing the weekly top position of decentralized applications (dApps). This advancement has strengthened Uniswap’s position as an emerging DeFi platform on the network.
QuickSwap ($QUICK) and Polymarket secured second and third place with weekly volumes of $196.1 million and $165.81 million respectively. This staggering development has underscored the rapidly growing appeal of Polygon dApps in the crypto space.
Enhanced Adoption and Liquidity for Polygon dApps
A growing number of users are attracted to the Polygon dApps along with their liquidity. Polymarket has led the market with 173.57K Unique Active Wallets (UAW), leaving behind all the competitors. This dApp holds a minimal asset balance than Uniswap but has a higher user engagement.
It showcases the rapidly growing interest in the decentralized predictions market. QuickSwap also holds a strong position with 26.11K UAW, followed by ParaSwa0 and 1inch. These two dApps hold 4.48K and 5.42K UAW respectively, showing smaller but engaging user activity.
A Great Polygon Competition for DeFi Platforms
Other notable players include WOOFI, Balancer, Odos, and Primed with $18.03M, $16.17M, $14.75M, and $13.37M weekly volume respectively. ParaSwap shows a weekly volume of $39.93M while 1inch is at $33.15M.
Gamma Strategies ($GAMMA) underscores a minimal weekly volume of $8.88M. With this lower volume, they hold a position in the leaderboard which shows diversification in the Polygon DeFi space.
The adoption of Polygon dApps increases which paves the way for their resilience. It also showcases the dApp’s potential to compete with other blockchain networks that already hold strong positions in the DeFi space.
