Web3 Scholarship Series Interview Episode 1 Transcript: In-Depth Discussion on the Polygon Ecosystem
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Web3 Scholarship Series Interview Episode 1 Transcript: In-Depth Discussion on the Polygon Ecosystem
Polygon: Not just a simple Layer 2 solution, but actually evolving into a multi-chain network.
Navigating Web3 tides with focused insightsHost:
Web3 Scholar: Lu
Guests:
Web3 Researcher: Stefanie
Polygon China Lead: Cora
Lu (Host): Before we dive into Polygon’s ecosystem development, could you first briefly share your view on Polygon?
Stefanie: I'm deeply interested in blockchain infrastructure, and Polygon is a uniquely positioned Layer 2 solution. Last year, Polygon reached a TVL of $14 billion. Beyond the technology itself, its rapidly growing economic ecosystem is equally fascinating.
Lu (Host): Besides Polygon, Arbitrum and Starkware are also attracting significant attention in Ethereum's scaling space. What do you see as Polygon’s core competitive advantages or differentiators compared to these two?
Stefanie: Polygon isn't just a standalone Layer 2 solution—it's evolving into a multi-chain network. With the launch of Polygon SDK, I believe it has the potential to become a blockchain ecosystem akin to Cosmos or Polkadot in the future.
Lu (Host): So you mean the SDK could unlock ecosystem-building potential, similar to what we’re seeing in the Cosmos ecosystem today?
Stefanie: Exactly.
Lu (Host): Over the past two years during this bull market, we first experienced DeFi Summer, then market attention shifted toward NFTs and gaming. Do you think this trajectory will repeat within the Polygon ecosystem?
Stefanie: Yes. We all remember the DeFi Summer of 2020, and I believe DeFi remains a crucial component of blockchain. When it comes to Polygon, last year’s launches of Aave and Curve on Polygon marked a major transformation for its DeFi ecosystem. However, I believe the next wave of growth will come from metaverse, Web3, and GameFi projects. Gaming, in particular, is the most promising sector to watch in the Polygon ecosystem.
Lu (Host): Cora, could you tell us about your role within the Polygon team?
Cora: My work involves connecting with projects, wallets, and individuals interested in the Polygon network. This includes marketing efforts across Singapore, Hong Kong, and Taiwan. These activities help raise awareness of projects within the Polygon ecosystem. We also manage community operations, currently active on Telegram, Weibo, WeChat, and various other Chinese and international social media platforms. Additionally, if developers are interested in Polygon’s tech stack or want to build within the ecosystem, we have dedicated developer communities to support them in understanding Polygon’s technologies and products.
Lu (Host): Can you share some trends you’ve observed over the years? Since you're now involved in events in China as well as global community building, could you offer insights into where strong growth in developers or users is emerging—by city or country?
Cora: Let me start by introducing Polygon. Most people know it as an Ethereum-based Layer 2 public chain. Polygon’s vision is to become the AWS of Web3—we aim to provide solutions for both developers and cryptocurrency users. The Polygon ecosystem now hosts over 7,000 applications and has processed more than 1.3 billion transactions across 100 million unique wallets.
Today, Polygon has become a critical platform for teams looking to build and scale their native applications, helping drive real adoption. Currently, around 70–80% of crypto startups are leveraging Polygon’s software stack.
Interestingly, many Web2 companies are now showing interest in the crypto space, seeking partnerships with Polygon to launch games or metaverse initiatives. Major brands like Adidas and Prada have already released NFTs on the Polygon chain.
Lu (Host): Is attracting resources from the Web2 world part of your strategy?
Cora: Absolutely. As everyone can see, we've grown rapidly over the past year. At the beginning of last year, we had fewer than 1,000 projects in the Polygon ecosystem. By mid-year, we added around 600 new projects, and by year-end, according to Alchemy, the number surpassed 7,000. I believe this reflects the success of Polygon’s global expansion strategy.
In May last year, we launched Polygon Studios, which focuses specifically on gaming, SocialFi, entertainment, music, and metaverse projects. Notable metaverse platforms such as Decentraland, The Sandbox, and Aavegotchi are already part of the Polygon ecosystem. We also have many exciting new metaverse initiatives underway, spanning fashion, music, film, and more.
Lu (Host): I’m curious—how do you view projects like Apecoin? What has Yuga Labs achieved? Personally, I’d love to hear both Cora and Stefanie share your thoughts on these breakout phenomena.
Cora: As we’ve seen, whenever you purchase something in the metaverse—say, a cup—it becomes an NFT, right? Today, we’re exploring NFT utility and derivatives. For example, I own a Bored Ape linked to Jay Chou—it was very popular. Since I own this NFT, I have full rights to it. I can create my own T-shirt featuring it, collaborate with artists or designers to reinterpret the NFT, and then sell those creations. All proceeds go to me—this is what we call NFT derivatives.
In the future, we should consider how NFTs can connect with physical reality. For instance, imagine a project selling shoes as NFTs—you could wear the digital shoes in the metaverse or use them across different games, where they might even enhance your character’s power. If you hold onto the NFT, they might send you a physical pair. But here’s a puzzle: if I sell the NFT while keeping the physical shoes, ownership becomes ambiguous. In the future, we’ll need new technologies to seamlessly integrate virtual and physical assets. I believe this integration is crucial for the future of NFTs.
NFTs aren’t limited to what we see today—they will play a transformative role going forward. That’s why APE acquired two other strong IPs, and I’ve heard they’re planning to build a game based on their NFT characters.
We may eventually apply DeFi concepts more broadly, but right now, greater focus is on gaming and NFTs. Our attention on DeFi has decreased somewhat, and there are reasons for that. NFTs combined with real-world assets will be vital in areas like lending, real estate, or mining. We’re still waiting for new technologies or innovative ideas to elevate NFT-based projects. We’re also anticipating higher-quality gaming projects—many talk about AAA titles, the highest tier in game development. Game projects, the metaverse, and NFTs will be especially important this year and next.
Stefanie: As Cora mentioned, I truly believe the uniqueness of NFTs lies in their ability to bridge the metaverse, gaming networks, and real-world assets—making it possible, for the first time, to bring many more people into the blockchain industry.
Lu (Host): Now I’d like to turn to future plans. Polygon has hosted or sponsored numerous hackathons. Could you share what you’ve done in the past and what we can expect this year?
Cora: Not everyone may know this, but Polygon was originally named Matic. Matic actually began as a hackathon project. It didn’t come from a big background—the co-founders were just regular developers. Polygon was built during a 2017 hackathon event. Initially, we were an EVM sidechain, then evolved into an Ethereum-based Layer 2 aggregation platform, and now we’re focused on ZK development.
We strongly believe hackathons are vital to this industry. Many groundbreaking projects originate from hackathons—for example, the now-popular Stepn started at one.
Since early last year, Polygon has been funding developers, dApps, and hackathons. By February this year, we’ve already hosted five hackathons. We’re highly active in developer communities, events, university programs, and graphics systems. We consistently fund GitHub repositories to support startups. While some may assume we’ve drawn many developers from the Ethereum ecosystem, the data tells a different story: among all dApps built on Polygon, 68% are exclusive to Polygon, while only 38% are deployed on both Ethereum and Polygon.
Let me explain why we’re so focused on ZK technology. According to our research, adopting ZK tech can significantly reduce gas fees. That’s why not only Polygon, but many other chains, are investing heavily in ZK.
Polygon has built a robust community and is extremely welcoming to newcomers. Developers can find everything they need with just a few clicks. They’ll also discover many young, like-minded builders within our ecosystem, making it easy to feel connected and supported.
For this year, hackathons will remain a key strategic pillar. Our Web3 Scholarship program is about to launch. We’re also partnering with other developer platforms, communities, and investment firms. We plan to sponsor cryptocurrency conferences across different regions to attract local developers to learn about Polygon’s technology.
Last year, we launched Polygon SDK, enabling developers to easily begin building with either EVM or ZK frameworks. It provides various models and tools tailored for developing within the Polygon ecosystem.
This year, beyond hackathons, I believe we’ll launch new ZK-based products. Most importantly, we’ll deepen collaborations with more Web2 companies to develop products for the crypto industry. As I mentioned at a previous event, in the future, we might no longer rely on email.
As Web3 unlocks greater freedom for individuals, many aspects of life could change. Perhaps I’ll send a Web3 Scholarship invitation—not via email, but through another medium, maybe directly to a phone or a new kind of device, perhaps a Web3 phone. Many things will shift, profoundly impacting daily life and behavior. We can’t wait for that new world to arrive.
Lu (Host): Starting with your acquisition of Hermez, you’ve become a ZK powerhouse. Now you have Polygon Nightfall, Polygon Miden, and Polygon Zero. Are these designed for different scenarios or use cases? If I were a developer looking to join your team and contribute to Polygon’s scaling solutions, how would you describe these various technologies you’re building?
Cora: I’d say we don’t yet know exactly when the Web3 era will fully arrive. But before it does, building solid infrastructure is paramount—and that’s exactly what Polygon is doing. Whether it’s Polygon Nightfall, Polygon Miden, or Polygon Zero, we’re working to establish Polygon as a public chain and prepare its foundational infrastructure in advance—enabling cheap gas, faster transactions, and seamless user experiences. This is critically important.
Polygon Nightfall is designed to protect corporate data privacy and has already been used by EY. Polygon Miden is EVM-compatible but built on STARK-based ZK-EVM technology, enhancing speed and privacy. As we’ve seen, Ethereum was once affordable and accessible for everyone. But with the rise of DeFi, NFTs, and gaming, many new projects entering crypto have driven up costs dramatically.
Think of a public chain as a container—the number of applications it can support matters greatly. Without robust infrastructure, we cannot welcome the Web3 world. Infrastructure development is absolutely essential. Not just Polygon, but all chains need better infrastructure. Building high-quality infrastructure may take 5 to 10 years, and we still need progress in Layer 2 and Layer 1 storage, privacy, and more. Today, we see various public chains with distinct strengths—Polygon focuses heavily on Layer 2 and aims to be a Layer 2 aggregator; Flow emphasizes NFTs and has a project called Spaces. The emergence of diverse public chains with specialized functions benefits the entire industry.
Audience Question: With recent technological advances, deeper technical innovations seem imminent. Do you think the upcoming Web3 will "replace" DeFi?
Cora: The entire cryptocurrency space is part of Web3, and DeFi is a subset of crypto. At this stage, DeFi certainly needs better ideas and products. The question isn’t whether Web3 will replace DeFi, but rather how DeFi can evolve when integrated with NFTs and gaming. You can already see DeFi underpinning game mechanics—many game projects incorporate yield farming and tokenomics. So instead of saying technology will replace DeFi, we should ask: how can DeFi become stronger when combined with gaming, the metaverse, or NFTs? Future NFTs will merge with physical assets, as I illustrated with the shoe example.
Actually, we could reframe the question: Will Web3 replace Web2 in the future?
I think that’s a more interesting question. Many talk about Web3 replacing Web2, and while we may increasingly adopt Web3, we’ll likely retain parts of Web2 depending on how Web3 evolves. For example, Web1 was defined by Microsoft, yet we still use traditional tools like Word. Even in the Web2 era, we rely on internet services from AWS, Alibaba, Tencent, and NetEase—many still play NetEase games. In Web3, people’s daily behaviors will undoubtedly shift. As I mentioned, we might stop using email altogether and move to entirely new products.
The reason we talk about Web3 is that it aims to give people more freedom, offering better solutions for personal data protection and enhanced privacy. For example, anyone can attend a metaverse fashion show regardless of social status or profession. During the show, you can freely interact with fashion brands or designers, fostering greater equality in the future world.
Audience Question: My question is marketing-focused. How do you advertise and attract developers to Polygon?
Cora: First, in marketing, we believe positioning is crucial for public chains, so we focus on attracting more developers to build within the Polygon ecosystem. Depending on regional projects, awareness of Polygon grows organically. Beyond crypto-specific outreach, we host general online events and collaborate with various crypto companies. We also employ traditional marketing strategies—such as sponsoring Liverpool Football Club matches and other sports events across regions—to introduce the Polygon brand to Web2 audiences. Not just us, but many crypto firms are doing the same.
Additionally, we’re actively engaging and collaborating with Web2 companies on gaming projects, given the large global gamer population. Public chains encourage large-scale game development because such projects make it easier to onboard Web2 users into crypto—helping them understand wallets and how to use them. Marketing spans multiple dimensions. You could say it’s BD-driven: I engage with other public chain projects and Web2 companies. Through our BD relationships, we gain access to resources for marketing campaigns. Today’s crypto marketing combines traditional strategies with Web3-native approaches.
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