Polygon made significant progress in the fourth quarter of 2024, particularly with the Agglayer protocol within its ecosystem. Agglayer v0.2 entered the testnet in December 2024, with plans for the mainnet launch in February 2025. Additionally, the first AggSummit was held in Bangkok, attracting over 1,000 attendees, where Magic Labs and Okto announced an on-chain unified wallet, and Agora planned to use AUSD as the native stablecoin for Agglayer. Meanwhile, the adoption of POL accelerated, with 88.1% of MATIC holders migrating to the new token, highlighting POL's important role in protecting multiple Polygon chains through re-staking. From a network perspective, the total transaction fees of Polygon PoS grew by 53.2% month-over-month, and the market cap of POL increased by 31% to $3.80 billion.

Polygon concluded Q4 2024 with significant advancements across its ecosystem, highlighted by progress on the Agglayer—a novel interoperability protocol for unifying blockchains. Agglayer v0.2 entered testnet in December 2024, laying the groundwork for a mainnet launch in February 2025. Alongside this, the first-ever AggSummit convened over 1,000 attendees in Bangkok, featuring announcements from Magic Labs and Okto onchain unification wallets, as well as Agora’s plans for AUSD as the native stablecoin of the Agglayer. Meanwhile, adoption of POL accelerated, with 88.1% of MATIC holders migrating to the new token, underscoring the growing role of POL in securing multiple Polygon chains via re-staking. From a network perspective, total transaction fees on Polygon PoS rose 53.2% QoQ, supported by a 31% increase in POL’s market capitalization to $3.8 billion.

Polygon Q4 2024 Ecosystem Progress Report