Polymarket, a decentralized predictions market built on the Polygon blockchain, has gained significant mainstream success, with the total betting volume nearing $2.4 billion for events like the U.S. presidential election. Despite its popularity, it has only generated $27,000 in transaction fees for Polygon in 2024, which Polygon Labs CEO Marc Boiron argues illustrates the blockchain's low-cost transactions. The average transaction fee is about $0.007, making it one of the cheapest blockchains for users. While Polymarket currently contributes about 5.2% of all transactions on Polygon, its transactional intensity is low compared to decentralized exchanges (DEXs). Boiron believes the app's primary value lies in the attention it brings to the Polygon ecosystem rather than in direct fee revenue. The attention generated by Polymarket could potentially lead to increased usage and interest in other Polygon applications, emphasizing that different apps have varied roles in generating value for the blockchain.

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