The scalability, security, and transaction speed of Polygon (MATIC) made it the go-to protocol for many DApps and DeFi projects spanning multiple industries. This has, however, been threatened as the upcoming Layer 2 solutions zkSync Era and StarkNet plan to launch token airdrops, causing an increase in daily activity on their respective networks. Reports suggest that these networks, being so new, might in the future even surpass Polygon in terms of activity.
Polygon’s Total Value Locked (TVL) on zkEVM has nevertheless grown impressively, and it is on the brink of major upgrades including the deployment of Safe, Chainlink Oracles, and other infrastructure improvements to enhance user experience and reduce costs. The founder, Sandeep Nailwal, did not rule out the possibility of a future airdrop by the network, claiming that there’s no rule preventing existing tokens from doing massive AirDrops.
The airdrops appearing to be responsible for the hike in daily activity in zkSync Era and StarkNet have prompted the need to examine the long-term impact of the development on the much more established Polygon network. While the Layer 2 protocol may still have potential for growth, Polygon’s stakeholders, investors, and users have been left in a state of uncertainty about its future. Whether or not the network maintains its high standards for scalability, security, and speed when pitted against the other new networks will be essential in determining its fate.
Jennifer Peterson
- 2023-05-13
Examining the Impact of Upcoming Layer 2 Solutions on Polygon's Growth
This article examines the implications of upcoming Layer 2 solutions, such as zkSync Era and StarkNet, on the already established Polygon network. Will these solutions put Polygon's scalability, security, and transaction speed at risk with their airdrops, or will it grow even further?
