This article is written by encryption researcher 2Lambroz.eth, mainly discussing the current Dapps and on-chain asset overview on Polygon zkEVM, as well as potential opportunities in the future. The Chinese version is compiled and released by White Tusk Research Institute.
There is a high yield for liquidity mining on Polygon zkEVM. QuickSwap has a TVL of approximately $7 million on the zkEVM chain, with APYs of 173%, 146%, and 63% for the USDC/DAI, USDT/DAI, and USDC/WBTC trading pairs, respectively, and a high ratio of actual trading volume to liquidity. Dovish Finance and Mantis Swap are also worth keeping an eye on.
Overview of on-chain assets: The current TVL of Polygon zkEVM is only about $10 million, with USDT at $700k, USDC at $2.3 million, DAI at $80k, BTC at $700k, WETH at $2.3 million, and Matic at $3.5 million. Interestingly, the Frax ecosystem has been around for a while, with sfrxETH at $475k, frxETH at $455k, FPIS at $469k, and FXS at $180k. NFTs have not yet been heavily minted, but it appears that some projects are positioning themselves.
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Dapps: QuickSwap is currently the largest DEX on Polygon zkEVM; Dovish Finance is about to launch perpetual contract functionality, but the current liquidity mining lacks appeal; the on-chain vote to launch Uniswap V3 on Polygon zkEVM has been passed; LeetSwap is a Swap built on both Canto and Polygon zkEVM, but the UI cannot currently connect to zkEVM; Antfarm Finance is a Swap that prioritizes LPs, aiming to provide LPs with more profit and security through market price changes, with a current TVL of $1.07 million…
Advantages of Polygon zkEVM: 1) Backed by Polygon, it is easy to attract more protocols to develop; 2) The team has strong business development skills, which can invite more protocols to migrate; 3) Active community. Challenges: 1) Polygon is trying to do many things, including DeFi, Web3 games, and Web2 adoption; 2) DeFi has slowed down a lot, and they believe “the king” is QuickSwap; 3) The number of users who are truly interested in ZK technology is limited. 4) The current user experience is poor, with low liquidity for most cross-chain bridges, and basically, only ETH can be bridged from the Ethereum mainnet to here.
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