Polygon (POL) Surfs the Polymarket Election Wave, Becoming the Unsung Hero Chain in Crypto

While Polymarket has been the undoubted star of the US election, there may be one overlooked hero: Polygon (POL), the network underpinning the application.

Despite Polymarket being the clear star of the US election, there may be one hero that went unnoticed: Polygon (POL), the network that powers the application. However, on Election Day, the network’s contributions to the breakout crypto application’s success could no longer be ignored.

“The Unsung Hero”

Throughout the US election cycle, Polymarket’s popularity has grown substantially. With this rising popularity, several metrics have also seen a spike. However, the platform has been able to navigate these spikes without any glitches, largely thanks to the infrastructure behind it: the Polygon (POL) network. This achievement highlights blockchain’s growing potential for mainstream adoption.

On Election Day, Polymarket’s smooth handling earned Polygon (POL) accolades from all sides.

According to Dune Analytics data, on Election Day, Polymarket saw an impressive $240 million in volume while recording about 360,000 transactions. Reacting to Polygon’s handling of the load, Dragonfly Managing Partner Haseeb Qureshi praised the network for having zero downtime.

“Volumes are going crazy and 0 downtime or issues as far as I’ve seen,” the VC chief wrote.

Can we just take a second to shout out @0xPolygon for handling all the Polymarket load right now? 🫡 Volumes are going crazy and 0 downtime or issues as far as I've seen.

Responding to the accolades, Polygon (POL) co-founder Sandeep Nailwal hailed the network as “the unsung hero chain in crypto” while pitching the network to other prediction markets, claiming that it is “battle-tested” and “fairly decentralized.”

As Nailwal highlighted, this isn’t the first time the network has shown a remarkable capacity to handle load.

Polygon (POL) Surfs Inscription Wave

In Q4 2024, EVM chains were attacked by an enemy called inscriptions, which are tokens created by editing transaction data, a technique invented to bring tokens to the less programmable Bitcoin network. This inscription wave swept over several networks, sinking many in its path, except for one: Polygon (POL).

At the peak of the craze, Polygon saw over 160 million inscriptions while still keeping network fees relatively low. However, facing only a fraction of this volume, most other chains became unusable, either unable to process transactions altogether or having excessively high fees.

On the Flipside

Why This Matters

Polygon’s smooth handling of Polymarkets’ volumes showed the world crypto’s growing potential for mainstream adoption.

Read this for more on Polygon:

Polygon (POL) Smashes ZK Proving Record in Push to Take the Tech Mainstream

Take a look at Trump’s crypto promises as he claims victory in the 2024 US elections:

Trump Wins US Elections: Here Are His Most Daring Crypto Promises