Analyzing the source of the first USDC deposit to Polymarket trading addresses for transaction attribution Polymarket trading addresses are proxy addresses, typically created by the user's Owner EOA address. However, if social login is used, the proxy is created and managed by the platform. This distinction helps differentiate between Crypto users and Web2 users. Looking at the source of the first deposit, Owner EOA is the largest contributor to Polymarket trading addresses, indicating that native crypto users remain the core user base of Polymarket. On the CEX side, Binance is the most significant source of first deposits to Polymarket trading addresses. Over 200,000 trading addresses have chosen Binance for their initial deposit, far surpassing other CEX platforms. Among other sources, MoonPay plays a notable role as an entry point for Web2 users. 95% of users who completed their first deposit to Polymarket via MoonPay are Web2 users.