Polymarket lifts Polygon to $1.7M in January fees
Polymarket’s 15-minute market, which permits customers to wager on short-term “up or down” worth actions for main cryptocurrencies, has triggered a surge in exercise on the Polygon blockchain, driving important community charges.
These markets are recognized to resolve each quarter-hour primarily based on Chainlink worth feeds, making them fast-paced and engaging to high-frequency merchants and arbitrage methods.
In response to Citadel Labs, Polygon has seen explosive development this yr. For the reason that yr started, the chain has reportedly generated over $1.7 million in charges and burned 12.5 million+ POL, over $1.5 million.
Why is Polygon’s charge technology up in 2026?
The primary motive for the rise in Polygon’s charge technology has been linked to a transfer Polymarket effected, which noticed it activate charges for its 15-minute markets one week in the past, as reported by Cryptopolitan.
In response to a report from Citadel Labs, the previous 24 hours have seen Polymarket make over $100,000 in charges for Polygon.
The charges Polymarket turned on for its 15-minute market additionally triggered a surge in fuel costs; nonetheless, that has been managed with the Dandeli hardfork that went reside at block 81,424,000, rising the chain’s throughput to twenty mgas/s.
The elevated chain capability is anticipated to make sure the community is ready to deal with the surge in exercise with extra predictable fuel costs. An evaluation of the P2P volumes throughout chains has proven Polygon now leads within the micropayments class, with 37% of market share.
Nevertheless, the share nonetheless converges in the direction of Ethereum for the opposite classes, together with the small, medium, and enormous funds. Constructing on the current hype, Polygon plans to companion with suppliers reminiscent of Revolut, Stripe, Flutterwave, Decard, and extra to spice up stablecoin transactions and onchain financial exercise.
That is all reportedly a part of Polygon’s Open Cash Stack, which targets extra onchain functions of cash and simpler spending, so off-ramping might be an possibility, slightly than a necessity.
Because the chain continues to evolve and construct use circumstances outdoors of crypto, and the Polygon thesis performs out with Agglayer and Open Cash Stack, extra sources like Polymarket are anticipated to contribute much more to the chain’s development, driving it again from the brink of obscurity.
What’s Polygon’s Open Cash Stack?
In response to a long-form article Polygon Lab’s CEO Marc Boiron posted on X, Polygon’s Open Cash Stack is a complete ecosystem that’s designed to assist the world’s monetary system transition completely onchain.
Within the article, the authors level out that although the Web has freed data, financial transactions are nonetheless largely restricted by geography, time and infrastructure. They declare Polygon is trying to change that by earning money motion “boundless and programmatic,” shifting from a sluggish, costly legacy system to at least one that’s extra fast and dependable.
The Open Cash Stack is an built-in suite of applied sciences designed to make the blockchain invisible to the top person and might be characterised by high-performance blockchain rails, simplified on and off ramps paired with cross-chain interoperability, good pockets infrastructure and onchain utility like excessive yield alternatives.
The timeline for the overall migration might be a decade, however Polygon is satisfied the protocols that may outline this class might be established within the subsequent three years.
Within the coming weeks, Polygon Labs has plans to launch a number of initiatives that may concentrate on funds, compliance and onchain cash primitives to maneuver the execution ahead from imaginative and prescient to execution.
