115% increase in transaction volume in the last 7 days
WaultSwap, a DeFi solution available on both Binance Smart Chain and Polygon, has been performing significantly better on the latter. DappRadar data for the past week shows that the Polygon version is experiencing significant increases in transaction volume, while the BSC version is performing poorly.
WaultSwap on Polygon gained 115% in transaction volume. Stats are remarkably different on Binance Smart Chain, where WaultSwap lost about 118% compared to the previous week.
Polygon dapps have been performing increasingly well across the board. However, counterpart BSC is struggling to keep up its numbers. While WaultSwap originally launched on BSC, the Polygon version of the dapp is doing remarkably well. With increases in all metrics and a total processed volume of $249 million, the Polygon solution secured almost double the BSC version.
Below is the data for the past seven days for the Binance Smart Chain version of WaultSwap.
As you can see, all metrics are in the red, with the number of unique active wallets dropping more than 35%. Of course, the drop in activity had an effect on the number of transactions and the transaction volume as well.
In comparison, here is the data for WaultSwap on Polygon for the same seven-day period.
On the absolute opposite end of the spectrum compared to the BSC-based WaultSwap, the Polygon version shows remarkable success. The number of unique active wallets is up by more than 17%. In addition, the volume is up by around 115% reaching $249 million in just one week.
WaultSwap is not the only one
According to DappRadar data, WaultSwap is not the only Polygon-based dapp experiencing a positive influx of customers and volume.
Despite the drop in gas fees on the Ethereum mainnet, and the traditionally acceptable fees on BSC, Polygon is the new hot topic in decentralized finance. Numerous DeFi solutions have already launched Polygon versions that outperform the original versions.
Examples of this include Aave and SushiSwap. Both platform’s Polygon versions performed considerably better over the past month compared to the original Ethereum-based exchanges. Not to mention that in the past seven days, the top 10 Polygon-based dapps attracted more than double the number of unique active wallets compared to Ethereum-based platforms.
The positive trend Polygon dapps are experiencing is continuously showing throughout DappRadar data. We will continue to monitor the development Polygon is pushing, and if you want to keep up with the latest in dapps check out the DappRadar blog and rankings pages.