“On-chain fee growth” is easiest to be swapped into “all token holders are sharing the fees.”
When Polygon officially introduced sPOL, it actually spelled the boundary out very plainly: currently, most priority fees do not flow to stakers; the sPOL plan only requires that participating validators return a portion of the priority fees to delegators. $POL is Gas and staked assets, but ordinary token holders, participating in staking, and handling fees through sPOL represent three different states.
22:49 BJT, spot price 0.07394 USDT; over the past 24 hours it has been nearly flat, with trading volume of 2.759 million USDT; perpetuals’ trading volume is about 1.81 times that of spot. Coin-denominated OI increased 2.86%, USDT-denominated OI increased 2.50%, and the funding rate was -0.0014%. The market has slight new participation, but there hasn’t been a strong value-capture repricing.
What truly needs to be verified isn’t whether “there is more Polygon trading,” but how many staking pathways with POL exist that can share priority fees, and how much fee is actually returned. Only if these two numbers keep rising is network usage more likely to translate into token-holder-verifiable returns. #Polygon
When Polygon officially introduced sPOL, it actually spelled the boundary out very plainly: currently, most priority fees do not flow to stakers; the sPOL plan only requires that participating validators return a portion of the priority fees to delegators. $POL is Gas and staked assets, but ordinary token holders, participating in staking, and handling fees through sPOL represent three different states.
22:49 BJT, spot price 0.07394 USDT; over the past 24 hours it has been nearly flat, with trading volume of 2.759 million USDT; perpetuals’ trading volume is about 1.81 times that of spot. Coin-denominated OI increased 2.86%, USDT-denominated OI increased 2.50%, and the funding rate was -0.0014%. The market has slight new participation, but there hasn’t been a strong value-capture repricing.
What truly needs to be verified isn’t whether “there is more Polygon trading,” but how many staking pathways with POL exist that can share priority fees, and how much fee is actually returned. Only if these two numbers keep rising is network usage more likely to translate into token-holder-verifiable returns. #Polygon