Polygon PoS：以太坊扩容的未来

**Key Insights**

**重要见解**

Polygon, initially known as MATIC Network, was founded in October 2017 as a scaling solution to address blockchain scalability and usage issues, particularly on Ethereum. At its core, Polygon is built on the concept of blockchain modularity, which aims to enhance scalability by separating the core functions of a blockchain—execution, settlement, data availability (DA), and consensus—into different layers. However, this approach has inadvertently led to two unattended consequences: fragmentation of state and liquidity.

Polygon 最初称为 MATIC Network，成立于 2017 年 10 月，作为解决区块链可扩展性和使用问题（尤其是在以太坊上）的扩展解决方案。 Polygon 的核心是建立在区块链模块化概念之上，旨在通过将区块链的核心功能（执行、结算、数据可用性（DA）和共识）分离到不同的层来增强可扩展性。然而，这种做法无意中导致了两个意想不到的后果：状态碎片化和流动性。

Today, Optimistic Rollups require users to pay expensive fees, up to 0.5% of the transaction value, to third-party bridges to avoid the seven-day challenge period to withdraw from the bridge. Zero-Knowledge Rollups, which reduce these wait times by eliminating the need for a challenge mechanism, still face delays as users are required to round trip on Ethereum for cross-chain transactions. These delays and costs highlight the inefficiencies that arise from the current modular approach, underscoring the need for more innovative solutions.

如今，Optimistic Rollups 要求用户向第三方桥梁支付昂贵的费用，最高可达交易价值的 0.5%，以避免从桥梁中退出的 7 天挑战期。零知识汇总通过消除挑战机制来减少等待时间，但仍然面临延迟，因为用户需要在以太坊上往返进行跨链交易。这些延误和成本凸显了当前模块化方法带来的低效率，强调了对更具创新性解决方案的需求。

In response to these challenges, Polygon has evolved into an aggregated network with a number of scaling solutions, including public chains and a chain development kit (CDK), to address scalability and interoperability challenges without compromising on trust assumptions. This technological landscape includes:

为了应对这些挑战，Polygon 已发展成为一个具有多种扩展解决方案的聚合网络，包括公链和链开发套件（CDK），以在不损害信任假设的情况下解决可扩展性和互操作性挑战。这种技术格局包括：

**Polygon Proof-of-Stake (PoS)**

**Polygon 权益证明 (PoS)**

Polygon Proof-of-Stake (PoS) is the flagship Polygon protocol, one of the first chains that launched, explicitly designed to improve Ethereum's scalability and efficiency. It operates as an EVM-compatible scaling solution that utilizes its own set of validators through a Proof-of-Stake consensus mechanism.

Polygon 权益证明 (PoS) 是 Polygon 的旗舰协议，是最早推出的链之一，明确旨在提高以太坊的可扩展性和效率。它作为与 EVM 兼容的扩展解决方案运行，通过权益证明共识机制利用自己的一组验证器。

As of Q2 2024, Polygon PoS has processed over 4.1 billion total transactions. Following this, Polygon has consistently maintained its cost-effective advantage over many L2s engineered to be more economical. In Q2 2024, Polygon's average transaction fee was around $0.01, down 41% QoQ, while Optimism’s Bedrock average transaction fee was $0.06.

截至 2024 年第二季度，Polygon PoS 已处理超过 41 亿笔总交易。此后，Polygon 始终保持其相对于许多更经济的 L2 的成本效益优势。 2024 年第二季度，Polygon 的平均交易费用约为 0.01 美元，环比下降 41%，而 Optimism 的 Bedrock 平均交易费用为 0.06 美元。

**Key Performance Metrics**

**关键绩效指标**

As of July 2024, Polygon is the 4th largest Ethereum scaling solution in terms of TVL, trailing behind Arbitrum’s $2 billion, Base’s $1 billion, and Blast’s $1 billion but ahead of Optimism’s $709 million. Among all blockchain networks, Polygon boasts the 8th-highest TVL.

截至 2024 年 7 月，就 TVL 而言，Polygon 是第四大以太坊扩容解决方案，落后于 Arbitrum 的 20 亿美元、Base 的 10 亿美元和 Blast 的 10 亿美元，但领先于 Optimism 的 7.09 亿美元。在所有区块链网络中，Polygon 拥有第八高的 TVL。

The largest protocols by TVL on Polygon PoS include Aave, Uniswap, QuickSwap, and Polymarket. Polymarket, a decentralized information markets platform that allows users to trade on real-world events, has particularly shown an impressive recent growth in TVL. The protocol has increased 237% quarter-over-quarter, from $17.04 million at the end of Q1 2024 to $40.2 million at the end of Q2 2024, driven by increased betting activity surrounding the upcoming US Presidential elections.

TVL 在 Polygon PoS 上最大的协议包括 Aave、Uniswap、QuickSwap 和 Polymarket。 Polymarket 是一个去中心化的信息市场平台，允许用户根据现实世界的事件进行交易，最近 TVL 的增长尤其令人印象深刻。由于围绕即将到来的美国总统选举的投注活动增加，该协议环比增长了 237%，从 2024 年第一季度末的 1704 万美元增至 2024 年第二季度末的 4020 万美元。

Additionally, daily active addresses on Polygon PoS are up 47% QoQ to 1.2 million. Over the past 12 months, Polygon PoS has processed 452 million DeFi transactions, more than Arbitrum, Base, and Optimism combined. These transactions include $1.5 billion in value from various DeFi use cases, e.g. trading and lending.

此外，PoS 上的每日活跃地址环比增长 47%，达到 120 万个。在过去 12 个月里，Polygon PoS 处理了 4.52 亿笔 DeFi 交易，超过 Arbitrum、Base 和 Optimism 的总和。这些交易包括来自各种 DeFi 使用案例（例如交易和借贷）的价值 15 亿美元。

In Q2 2024, Polygon’s gaming sector experienced the highest network activity across its leading sectors, with 382,000 daily active addresses increasing by 85% QoQ. This growth is attributed to the popularity of Matr1x’s Matr1x FIRE game, a first-person shooter game. Matr1x accounts for 74% of the average daily active addresses among the top five applications on Polygon PoS.

2024 年第二季度，Polygon 的游戏行业在其领先行业中经历了最高的网络活动，每日活跃地址数为 382,​​000 个，环比增长 85%。这一增长归功于Matr1x 的Matr1x FIRE 游戏（一款第一人称射击游戏）的流行。在 Polygon PoS 前五名应用中，Matr1x 占日均活跃地址的 74%。

The number of unique addresses active on Polygon PoS has risen by 205% YTD, while daily engaged wallets have also seen an increase of 50% YTD. In March 2024, the Ethereum network underwent the Dencun upgrade, implementing proto-dank sharding (EIP-4844) and improving data availability on Ethereum. This upgrade led to a substantial reduction in fees across the Ethereum ecosystem, including Polygon, where total transaction fees decreased by 41% QoQ to $4 million.

今年以来，PoS 上活跃的唯一地址数量增加了 205%，而每日活跃钱包数量今年迄今也增加了 50%。 2024 年 3 月，以太坊网络进行了 Dencun 升级，实施了原始分片 (EIP-4844) 并提高了以太坊上的数据可用性。此次升级导致整个以太坊生态系统的费用大幅降低，其中包括 Polygon，总交易费用环比下降 41% 至 400 万美元。

Stablecoins on Polygon continued to grow, with their total market cap increasing 40% QoQ, up to $1.8 billion by the end of Q2 2024. Daily active addresses in stablecoins also rose 35% YTD. Tether (USDT) and Circle's USDC maintained their dominance, collectively representing 80% of the stablecoin market cap on Polygon, with approximately

Polygon 上的稳定币持续增长，其总市值环比增长 40%，到 2024 年第二季度末达到 18 亿美元。稳定币的每日活跃地址今年迄今也增长了 35%。 Tether (USDT) 和 Circle 的 USDC 保持了主导地位，合计占 Polygon 稳定币市值的 80%，约