Polygon Q1 2025 Report: Key Highlights
Polygon's Q1 2025 report, published by Messari, showcases the project's stability and growth despite macroeconomic uncertainty. The report highlights Polygon's progress in several core areas, including infrastructure scaling, stablecoin usage, NFT volume, and user activity.
AggLayer: New Cross-Chain Infrastructure
Polygon launched its AggLayer mainnet on February 3, 2025, introducing a zero-knowledge (ZK)-powered interoperability layer designed to unify fragmented L2s and appchains. AggLayer features native asset bridging, internal accounting, and safety against dishonest bridge participants. Early adopters include Tria, Socket Protocol, Rome Protocol, and Karate Combat.
Token Economics: MATIC to POL Transition
Polygon began its token migration from $MATIC to $POL in late 2023. As of Q1 2025, 92.7% of the total supply has migrated to POL. Despite a 54% QoQ decline in market capitalization, $POL remains the second-largest L2 token by market cap.
NFT Ecosystem: Growth via Pokémon Collectibles
Polygon's NFT metrics experienced significant growth, driven by Courtyard's Pokémon-backed NFTs:
- Average daily NFT volume: $1.4M (+68.2% QoQ)
- Courtyard's March 2025 sales: $28.9M (51.2% of Polygon's total monthly NFT volume)
- Overall Courtyard growth: +439.5% QoQ
DeFi Performance: Moderate TVL Drop
While global DeFi markets saw contraction, some Polygon-native protocols posted notable gains:
- Total TVL: $744.8M (-14.5% QoQ)
- Top gainers: Spiko (+28.9% TVL growth) and QuickSwap (+72.5% growth)
Stablecoin Economy: Strength and Adoption
Polygon's stablecoin ecosystem showed strength and increasing relevance:
- Total stablecoin supply: $2B (+23.3% QoQ)
- Stablecoins became the top-used token category by active addresses
- Real-world use cases drive stablecoin adoption
Polygon's use in traditional financial rails expanded:
- $140.7M in card-linked payments processed via Mastercard and Visa integrations
- Over $245.3M in transfer volume facilitated by payment partners
Network Activity: Consistent Growth
Polygon PoS chain performed well, with:
- Daily active addresses: 546,000 (+4.4% QoQ)
- Average daily transactions: 3.4M (+8.0% QoQ)
- Average daily revenue: $52,000 (+21.6% QoQ)
Developer Ecosystem: Continued Support
Polygon supports its app-chain thesis and zkEVM development, with:
- zkEVM seeing 92.6% growth in total transactions QoQ
- Deployed smart contracts continued to rise
- AggLayer's launch expected to catalyze further dApp migrations
Conclusion
Polygon's Q1 2025 report highlights the project's progress in infrastructure scaling, token economics, NFT growth, DeFi performance, stablecoin adoption, real-world transactions, network activity, and developer ecosystem. With its focus on ZK-based infrastructure and real-world utility, Polygon is well-positioned for future growth and adoption. @0xPolygon
