We are pleased to share the second Polytrade statistics update with the community.
These numbers only comprise mainnet values and do not reflect testnet campaigns we did this year (such as Plume).
Since our last update in July 2024, we introduced token-denominated asset listings on the Marketplace, specifically adding $TRADE (read more) and RAGMI (read more) as units of transaction, in addition to the existing stablecoins USDC and USDT.
The below numbers are the cumulative volumes and fees since the launch of the initial Marketplace in May 2024. This includes the numbers quoted in our previous stats update in July 2024 (which were only stablecoins).
Total Volumes/GMV:
Stablecoins: 2,306,339
$TRADE: 498,513 (~= $254,840 as of today’s conversion rate)
Total in $ terms: 2,561,179
RAGMI: 199,750
Total Fees:
Stablecoins: $27,541
$TRADE: 2,840 (1451.81 in $ as per today’s conversion)
Total in $ terms: 28,992
RAGMI: 3,648
Activity Breakdown:
Below is the activity breakdown for all volumes in stables or $TRADE.
| Commodities & Stables* | 57% |
| Cross Border Trade & Trade Finance | 35% |
| Collectibles** | 2% |
| Credit & Fixed Income | 3% |
| Others*** | 3% |
| Total | 100% |
*Commodities & Stables include tokenized gold, silver, platinum, USD, and other stablecoins.
**Collectibles include our native drops with Artists as well as tokenized assets such as tokenized Luxury Items, Diamonds Trading Cards, and other collectibles
***Others include tokenized royalties and IP (eg: Anotherblock), real estate, and misc.
Use of Fees:
Prior Buyback(s):
In our first update, on July 30, 2024, we used all fees to date to buy back $TRADE.
A total of $10,354 was used on Polygon and Ethereum to purchase 10,106 and 540 TRADE respectively.
Transaction Links:
Polygon: https://polygonscan.com/tx/0x19912a874de8288af1463754e218ebb8d762e0a2eb21b23bc70a90d84dae44a8
Ethereum: https://etherscan.io/tx/0xd42155b0ddd4fdf4cd98f9a4ebfe71d6aaf7230bce37d770ccb93932eecf31aa
Read more: https://blog.polytrade.finance/product/marketplace-stats-update-and-buyback/
Current Buyback:
All stablecoin fees generated since that is Total Fees till date ($27,541) minus used fees ($10,354), that is $17,187 was used to buy back $TRADE on Polygon across 3 transactions. These transactions are listed below:
Buyback 1: https://polygonscan.com/tx/0xf55657b929d2c39f344a55897528883025d4f19ceec02f40ea414ff4c184a10c
Buyback 2: https://polygonscan.com/tx/0x999ee01a81d00b0117f602a7850c01ede7a1e7d754f0c09bacd576032c9c8811
Buyback 3: https://polygonscan.com/tx/0xd3f94f7fb1de1879cb1dff6f82fc35b5672da81f04e41d8a73bec369e2ed60ec
This led to a total buyback of 35,856 TRADE.
Combining the fees received in TRADE (2,840), a total of 38,705 TRADE was added to the bought-back balance in the current exercise.
Combined with the first buyback, this brings the total amount of $TRADE now bought back to 49,351.
Same as before, the repurchased $TRADE tokens will be securely stored in our Treasury’s cold storage.
Value Creation
Our initiative to repurchase $TRADE tokens underscores our commitment to creating value within the ecosystem. By taking this action, we aim to ensure that value consistently flows back to our community, reinforcing our dedication to their long-term benefits.
The best is yet to come.