The implementation of a dedicated stablecoin can reduce liquidity fragmentation and help make blockchains more aggregated

MATIC

<div><div>Welcome back to the Polygon Weekly Overview. The best place for Polygon community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place. Reminder: Join our quarterly webinar with Polygon Labs’ co-founder Brendan Farmer on Nov. 20 from 1-2pm EST. <a href="https://x.com/i/spaces/1BRKjwrdaMWGw" rel="" target="_blank">Sign up here</a>New here? Subscribe here to get updates to your inbox. Every Friday. 🔔<h3>By The Numbers</h3><ul><li><a href="https://polygonscan.com/chart/active-address" rel="" target="_blank">Polygon daily active users</a>: 558.2K (+0.3%)</li><li><a href="https://polygonscan.com/chart/tx" rel="" target="_blank">Polygon daily txns</a>: 3.52M (+6.67%)</li><li><a href="https://defillama.com/chain/Polygon" rel="" target="_blank">Polygon Total Volume Locked (TVL)</a>: $1.06B (-7.83%)</li><li><a href="https://www.cryptoslam.io/blockchains/polygon?headerPeriod=7d&amp;tab=Collection+Rankings&amp;timeFrame=week&amp;period=7d" rel="" target="_blank">NFT weekly sales volume</a>: $3.73M (-17.16%)</li><li><a href="https://www.cryptoslam.io/blockchains/polygon?headerPeriod=7d&amp;tab=Collection+Rankings&amp;timeFrame=week&amp;period=7d" rel="" target="_blank">Top 3 NFT collections by sales volume</a>: <ul><li>Courtyard: $1.35M (-20.12%)</li><li>STEPNGO: $422.4K (+66.66%)</li><li>Mining Pass: $284.9K (-54.59%)</li></ul></li></ul>The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.<h3>AggLayer Spotlight</h3><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F32477ab6-c793-43ab-9ef8-385cb9582183_1214x374.png" target="_blank"><div><picture><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/16/r3rot0zcoojl.png'/></picture></div></a></figure></div>🟪What happened: Agora’s fiat-backed stablecoin, AUSD, will be deployed as the native stablecoin for the AggLayer ecosystem, the company <a href="https://polygon.technology/blog/agora-to-bring-ausd-to-agglayer-for-a-native-and-fungible-aggregated-stablecoin" rel="" target="_blank">announced</a> this week at the Aggregation Summit in Bangkok. 🟪Why does it matter: AUSD plans to be interoperable across all chains that are integrated with the AggLayer. It will offer a <a href="https://polygon.technology/agglayer" rel="" target="_blank">unified liquidity pool</a> that acts as a solution for the need of custom stablecoin bridges.The goal of the AggLayer is to solve the issue of blockchain fragmentation by fostering a more connected ecosystem that allows dApps to operate seamlessly across multiple networks. By integrating an official stablecoin, it will allow every network to access the same liquidity provider. This eliminates the need for outside solutions that can make the process more complex than needed. A shared liquidity pool also lets developers looking to build DeFi applications or cross-chain payment solutions access AUSD’s security and reliability. In turn, this enhances the experience for developers and users alike.AUSD is secure and reliable because it is backed by financial institutions such as VanEck and State Street. Its market cap is more than $34 million, according to <a href="https://www.coingecko.com/en/coins/agora-dollar" rel="" target="_blank">CoinGecko</a>, showcasing that the stablecoin is widely used across the digital asset sector and has product market fit. 🟪The big picture: AggLayer’s announcement to support a single stablecoin standard across its entire ecosystem aligns with its mission statement: to reduce liquidity fragmentation. If users can navigate multiple chains as if they were operating on a single platform, this could streamline the onboarding process for new users. As the ecosystem grows, AUSD can become a preferred choice for cross-chain applications, resulting in increased activity and adoption, boosting the demand for other crypto-native assets. <h3>Into the AggLayer</h3><ul><li>Espresso Systems launched<a href="https://medium.com/@espressosys/espresso-mainnet-0-is-live-deedc2505081" rel="" target="_blank">“mainnet 0”</a>, a layer that will connect to the AggLayer to give users the ability to interact with cross-chain apps</li><li>Okto Wallet will integrate with <a href="https://www.okto.tech/post/okto-x-agglayer-connecting-the-dots-of-web3" rel="" target="_blank">the AggLayer </a>to enable users to interact across multiple chains via a single interface</li><li>POL Rush live pitches took place at the AggSummit - learn more about the projects in <a href="https://x.com/AggLayer/status/1855576728665821674" rel="" target="_blank">this thread</a><ul><li>Speaking of the AggSummit… if you couldn’t attend the conference, watch these livestream: <a href="https://www.youtube.com/watch?v=KiDNtypPn7A&amp;t=1s" rel="" target="_blank">here</a> and <a href="https://www.youtube.com/watch?v=EAM-xZT5BBM" rel="" target="_blank">here</a></li></ul></li></ul><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4acf4664-2cce-45f5-848f-b8de460ae824_700x458.png" target="_blank"><div><picture><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/16/zbrct0zcood1.png'/></picture></div></a></figure></div><h3>Ecosystem Showcase</h3><ul><li>BlackRock launched its <a href="https://securitize.io/learn/press/blackRock-launches-new-buidl-share-classes-across-multiple-blockchains" rel="" target="_blank">BUIDL fund</a> on Polygon PoS, among other chains</li><li>Fableborne, a strategic action role-playing web3 game, migrated to the <a href="https://x.com/fableborne/status/1856698578518839304" rel="" target="_blank">Ronin Network</a></li><li>Daily new users for games on Polygon PoS hit 17.4K on Nov. 12, a 90-day high for the ecosystem (shown below)</li></ul><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc7d35ac3-7dc7-4574-b598-cb7bde6e6025_1600x424.png" target="_blank"><div><picture><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/16/0onft0zcoojx.png'/></picture></div></a></figure></div>Source: <a href="https://dune.com/queries/3720163/6258415" rel="" target="_blank">Jorel on Dune</a><h3>Featured headlines</h3>You might have seen these Polygon-related headlines recently…<ul><li>BlackRock expands its tokenized money market fund to Polygon and other blockchains (<a href="https://www.cnbc.com/2024/11/13/blackrock-expands-tokenized-money-market-fund-to-polygon-other-blockchains.html?taid=6734d6e0f5c1290001e1d620&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain" rel="" target="_blank">CNBC</a>)</li><li>AggLayer adopts Agora’s AUSD as native stablecoin (<a href="https://cointelegraph.com/news/polygons-agglayer-adopts-agora-ausd-native-currency" rel="" target="_blank">Cointelegraph</a>)</li></ul><h3>Join in the fun</h3>Want to dive into the Polygon ecosystem full-time? Find the latest job postings <a href="https://polygon.technology/ecosystem-jobs" rel="" target="_blank">here</a>. <ul><li>Contribute to the development of Polygon’s protocols and shared AggLayer components by participating in the <a href="https://polygon.technology/blog/participate-in-the-next-chapter-of-decentralizing-community-governance-for-polygon-networks?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=blog" rel="" target="_blank">System Smart Contracts Governance</a></li><li>Dive into the Polygon community and listen to their weekly and monthly community hosted spaces in the <a href="https://discord.gg/0xpolygoncommunity" rel="" target="_blank">Discord</a></li></ul>To get this newsletter delivered to your inbox every week, subscribe here.This product was built by <a href="https://token-relations.com/" rel="" target="_blank">Token Relations</a>. This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.</div></div>

AggLayer adds Agora’s AUSD as its new native stablecoin