Polygon 2023 - A Year To Remember

Introduction

As the curtain falls on the year 2023, it is imperative to reflect upon the milestones and transformative events that shaped the trajectory of Polygon. From groundbreaking collaborations with industry giants, to the deployment of innovative solutions, Polygon has consistently pushed the boundaries of Web3 innovation. In this article, we'll showcase the most bullish news from each month and break down what it means for Polygon moving forwad.

January 2023

Mastercard x Polygon

Mastercard announced the launch of the Mastercard Artist Accelerator program, a unique initiative designed to support emerging musical artists using the Polygon blockchain. The program aims to equip five rising talents, including musicians, DJs, and producers, with the necessary tools and skills to navigate the digital economy.

Participants have exclusive access to special events, music releases, and a groundbreaking curriculum focused on building and owning their brand through Web3 experiences such as minting NFTs and engaging with virtual worlds. By leveraging Web3 technologies, Mastercard aims to create unique and scalable experiences for both artists and fans, showcasing its commitment to innovation in the music industry.

dApp Store Kit

Meroku, in collaboration with Polygon Labs, announced the dApp Store Kit, a groundbreaking open-source software development tech stack. This innovation allows anyone to create and launch their own EVM-compatible decentralized app store.

The kit enables customization in terms of distribution rules, curation, governance, branding, and pricing, allowing users to simultaneously upload and distribute projects across multiple stores. This initiative challenges the dominance of major mobile app stores like Apple and Google, aiming to decentralize app store development and foster a future where each market niche has its own tailored dApp store with unique monetization models.

February 2023

Ripio x Polygon

Ripio, the leading digital asset platform in Argentina, entered the Polygon ecosystem to accelerate the adoption of Web3 applications in Latin America. With over 7 million users in the region, the Buenos Aires-based company announced it is bringing its Ripio Trade, Ripio Portal, and Ripio Wallet products to the Polygon network.

The partnership aims to expand the use of the Polygon network in Latin America, offering Ripio's users access to a broader range of Web3 protocols with faster and more cost-effective transactions.

Launch Date For Polygon zkEVM

In February, Polygon Labs revealed the Polygon zkEVM Mainnet Beta launch date, marking a significant milestone in the journey towards seamless scaling for Ethereum. Following the success of the Polygon zkEVM Testnet, the Mainnet Beta has aimed to unlock mass adoption and fully harness the potential of Web3.

The Testnet achievements included:

• 84,000+ wallets
• 300,000 blocks produced
• 75,000 ZK proofs generated
• 5,000 smart contracts deployed

The Mainnet Beta focuses on security as a top priority, with transparency regarding security measures during this phase.

March 2023

Immutable x Polygon

Immutable and Polygon Labs announced they are joining forces to create a dedicated gaming blockchain using zero-knowledge technology. The collaboration has resulted in the launch of Immutable zkEVM on Testnet, and Mainnet aimed for Q1 of 2024.

Half of all blockchain activity in 2022 originated from games, and three-quarters of game developers anticipate working on Web3 games in the future. The Immutable zkEVM technology, enhances transaction speeds and reduces fees while remaining compatible with Ethereum's security model.

Polygon zkEVM on Mainnet

Polygon Labs launched the brand new Polygon zkEVM chain on Mainnet Beta on March 27th. Polygon zkEVM is a permissionless, public, and open-source blockchain, allowing anyone to use it for transactions and development. Polygon zkEVM offers fast finality and has undergone extensive testing on public testnets, making it faster, cheaper, and more secure.

Ethereum co-creator Vitalik Buterin performed the first transaction on Polygon zkEVM Mainnet Beta, emphasizing its importance. This release marked a significant milestone for Polygon's goal to become the Value Layer of the Internet.

April 2023

Google Cloud x Polygon

At Consensus 2023, Google Cloud and Polygon Labs announced a strategic alliance to boost the adoption of core Polygon protocols, including Polygon PoS, Polygon Supernets (Now CDK), and Polygon zkEVM, utilizing Google Cloud infrastructure and developer tools. The collaboration aims to simplify the process for developers to build, launch, and grow their Web3 products and dAppson Polygon protocols.

Google Cloud became the strategic cloud provider for Polygon protocols, introducing Blockchain Node Engine, a fully managed node hosting service, to the Polygon ecosystem. This service alleviates developers from the challenges of provisioning and managing dedicated blockchain nodes, enabling them to focus on growth.

Franklin Templeton x Polygon

Franklin Templeton expanded the reach of its Franklin OnChain U.S. Government Money Fund (FOBXX), the first U.S. registered mutual fund using a public blockchain for transaction processing and recording share ownership, by integrating it with the Polygon blockchain. The adoption of Polygon's Layer 2 blockchain brings operational efficiencies to the fund, providing increased security, faster transaction processing, and reduced costs.

The Fund's transfer agent maintains the official share ownership record through a proprietary blockchain-integrated system that utilizes blockchain technology. By tapping into the Ethereum ecosystem via Polygon, the fund opens up new possibilities for investors while ensuring regulatory compliance.

May 2023

Hamilton Lane x Securitize x Polygon

Securitize, a company specializing in digitizing real-world assets, launched a tokenized feeder fund offering access to Hamilton Lane's Senior Credit Opportunities Fund exclusively on the Polygon blockchain. The fund provides tokenized exposure to a private credit fund from Hamilton Lane, allowing individual investors a reduced minimum investment of $10,000, down from $2 million.

The tokenized fund on Polygon enables on-demand redemptions and monthly subscriptions, offering broader access to senior private credit. This move leverages blockchain's efficiency to streamline processes and reduce barriers for investors.

Polygon zkEVM Growth

In the first couple months since launching on Mainnet, Polygon zkEVM witnessed explosive growth.

In the month of May, daily transaction volume broke all time highs several times. On May 25th, Polygon zkEVM Mainnet Beta processed more than 25k transactions. From April 25th to May 25th, unique active wallets grew by 54%. Finally, assets bridged to the network grew 7X, between April 24 and May 29, to over $18M.

June 2023

Flipkart x Polygon

Polygon Labs, in collaboration with Flipkart and Hang, launched FireDrops 2.0, a specialized loyalty program designed to introduce millions of new users to Web3. This loyalty program revolutionizes brand loyalty programs by integrating Web3 and NFT technology.

The use of NFTs enables easy ownership and redemption of rewards, creating new revenue streams for brands and fostering customer engagement in the loyalty ecosystem. The program combines Flipkart's extensive market reach with the scalability offered by Polygon and the expertise of Hang in delivering next-generation loyalty solutions.

Polygon Copilot

In June, Layer-E has introduced Polygon Copilot, an AI-powered interface designed to assist users in navigating the Polygon ecosystem. Whether users are beginners or experienced builders, Copilot offers valuable insights, analytics, and guidance across various aspects of the ecosystem.

Trained on the documentation of Polygon protocols, Copilot utilizes OpenAI's GPT-4 large language model to provide a natural and intuitive way for users to interact with the system using plain spoken language. The interface caters to both beginners and advanced users, offering information on basic building to more complex features and functionalities. Upcoming versions of Copilot will introduce new commands, extensions, and plugins to enhance user experience further.

July 2023

SCALE Documentary

Premiered in July, "SCALE" is the untold origin story of Polygon zkEVM. The documentary takes viewers behind the scenes, following the journey of the Polygon zkEVM founding team from the inception of the idea to the development, open-sourcing of the code, public testnet, and the ultimate launch of the Mainnet Beta.

The documentary explores the profound impact of this technology on the future of Web3 and aims to empower any community aspiring to embrace freedom and self-determination. The screening premiere took place at EthCC Paris on July 18.

Inborg Upgrade for Polygon PoS

Polygon Labs, after identifying challenges faced by the PoS network, proposed the Inborg Upgrade. The Inborg upgrade aims to enhance network stability and reduce finality time.

The upgrade introduced a new genesis parameter, state SyncConfirmationDelay, which changes how the "to" time value is determined, aiming to eliminate the BADBLOCK error during reorgs and improve network stability. If implemented, this upgrade is expected to enhance user experience without impacting developers.

August 2023

Immutable zkEVM Testnet

The Immutable zkEVM Testnet went live in August. This innovative gaming infrastructure offers a dedicated chain for games with EVM compatibility, low costs, massive scalability, and enterprise-grade security.

Immutable zkEVM goes beyond general-purpose chains, focusing specifically on optimizing scale, speed, and native user experiences for games. The testnet allows developers to migrate existing smart contracts into the Immutable zkEVM environment for free, encouraging experimentation with in-game assets, economy design, and development acceleration. Immutable zkEVM aims to foster a gaming ecosystem that benefits players, studios, and developers, providing access to a comprehensive suite of solutions for success.

Lufthansa’s Loyalty Program On Polygon

Uptrip, a new loyalty platform developed by Lufthansa Innovation Hub in collaboration with Miles & More, took flight on the Polygon PoS network.

This innovative platform turns travel experiences into collections by rewarding users with NFT trading cards for each flight they take. Users can assemble various collections, each offering unique rewards such as business lounge vouchers, free miles, and unlocked frequent traveler statuses.

September 2023

Phase 0 Polygon 2.0

Polygon introduced three Polygon Improvement Proposals detailing the specifics of the proposed upgrades under Polygon 2.0.

PIP-18: Outlines the high-level overview of Phase 0 of Polygon 2.0, ensuring no action is required from end users and developers on Polygon PoS and Polygon zkEVM chains.

PIP-17: Introduced POL, the next-generation token accommodating ZK-based Layer 2 chains, featuring staking, community ownership, and governance.

PIP-19: Focuses on upgrading the native gas token on Polygon PoS from MATIC to POL, ensuring maximum backwards compatibility and maintaining native token properties.

Canto x Polygon

Canto, a Layer 1 blockchain concentrating on enhancing decentralized finance for impactful adoption, decided to migrate to a zero-knowledge Layer 2 on Ethereum powered by the Polygon CDK. The move aims to build a blockchain specifically dedicated to real-world assets.

Launched in 2022, Canto serves as a permissionless general-purpose blockchain with EVM execution capabilities and essential financial primitives. The migration to an Ethereum ZK-powered Layer 2, facilitated by the Polygon CDK, will enable Canto to maintain its ethos of permissionless sovereignty and liquidity as a public good.

October 2023

Polygon Protocol Council

With the vision of Polygon 2.0 reimagining the ecosystem, discussions around what governance 2.0 would entail for a Polygon ecosystem of ZK-powered L2s gained traction. Polygon Improvement Proposals emerged from community-driven discussions, leading to the introduction of PIP-29 proposing the establishment of a Protocol Council.

This marks a crucial step toward scalable and decentralized governance, laying the foundation for governance 2.0. The Protocol Council, comprising 13 members, will oversee specific changes to system smart contracts for existing and future Polygon protocols, aligning with the Polygon 2.0 vision. Members will utilize a Gnosis Safe contract to execute changes on Polygon blockchain infrastructure, facilitating community-led upgrades.

POL Contracts on Testnet

In October, POL contracts were deployed on the Goerli testnet, aligning with the Polygon 2.0 vision. This deployment is a result of community consensus and a key step toward initiating the proposed upgrades that reimagine various aspects of the Polygon ecosystem.

Additionally, PIP-19 advocated for the adoption of POL as the native gas and staking token on Polygon PoS, impacting contracts responsible for burning the native MATIC token through Ethereum Improvement Proposal 1559. This mechanism has burned over 20 million MATIC tokens since its implementation on Polygon PoS in January 2022.

November 2023

OKX x Polygon

OKX, a major cryptocurrency exchange and Web3 ecosystem player, has launched X1, an Ethereum-based ZK Layer 2 network using the Polygon Chain Development Kit. X1 will be OKX's new native network, connecting its vast user base of over 50 million to the broader Polygon and Ethereum communities.

OKX's platform token OKB will serve as the native token for X1, facilitating gas fee payments on the network. X1, designed for builders, creators, and Web3 enthusiasts, leverages ZK proofs for high security and scalability while reducing transaction costs. The network is Ethereum-compatible, enabling seamless deployment of EVM-based decentralized apps (dApps) and connectivity with various smart contracts, wallets, and tools.

NEAR x Polygon

Polygon Labs and NEAR Foundation have joined forces to develop a Z) prover for Wasm blockchains. The zkWasm prover is designed to bridge the gap between Wasm-based chains and the Ethereum ecosystem.

NEAR Foundation, as part of this collaboration, became a core contributor to Polygon CDK. The zkWasm prover will enhance customizability for developers working with Polygon CDK, allowing them to choose from various provers when building EVM or Wasm chains.

December 2023

Celestia x Polygon

Celestia, a leading data availability solution for blockchain scaling, has integrated with the Polygon Chain Development Kit. The integration enables Celestia's out-of-the-box data availability layer to work seamlessly with Polygon CDK's interoperability and unified liquidity features. This collaboration aims to simplify the process of launching high-throughput Layer 2 chains on Ethereum.

Developers will have access to Celestia's DA solution as an easily-pluggable component among the customization options offered by Polygon CDK from early next year. By leveraging Celestia's DA layer, Ethereum Layer 2 transaction fees for end users can be significantly reduced.

Polygon Portal

Polygon Labs introduced Polygon Portal, an intuitive user interface that allows you to easily manage your assets on Polygon chains and bridge to and from Ethereum seamlessly, all in one place.

It enables everyone from experienced users and beginners to developers and validators to enjoy the benefits and incentives of the Polygon protocols with minimal friction.

For users, Polygon Portal is a one-stop destination for getting onboarded onto the Polygon ecosystem with native apps that are easily accessible on a single platform. Developers can use Polygon Portal to access tools and documentation resources, while validators get access to staking. If there are any issues, support and feedback are just a click away.

Some of things you are able to to do with Polygon Portal:

• Bridge your assets via Socket bridge and a range of third-party bridges;
• Manage your assets and token lists;
• Use the Refuel Gas feature to purchase MATIC or ETH for gas on the destination chain;
• Leverage developer tools to help you build your dream dApp;
• Swap assets easily with third-party DEXs.

Conclusion

2023 was full of bullish announcements, growth, and partnerships for Polygon. Each year, Polygon seems to exceed expectations and continue to take things to the next level. I expect 2024 to be no different, and I look forward to what's coming in the future.