Try Quests to earn cryptoBridger Destinations (redux)
Introduction
Optimism is an Ethereum developer-built L2 blockchain. Optimism's EVM-equivalent architecture grows Ethereum apps seamlessly. Optimism can scale any Ethereum Dapps. Optimism puts transaction data on-chain and processing off-chain, improving Ethereum's transactions per second and lowering transaction fees.
Layer-to-layer asset bridges
Optimism was created so that users may communicate between smart contracts on both Optimism and Ethereum using any message they chose. Since the two networks are compatible, it is now able to move assets, such as ERC20 tokens, between them. The specifics of how this exchange of information takes place change depending on the direction in which messages are traveling. Optimism makes advantage of this feature in the Standard bridge to facilitate the transfer of assets (ERC20s and ETH) from Ethereum to Optimism and the reversal of these transactions [Link].
Definition of Dashboard Parameters:
> * Bridger: someone who bridges their assets into Optimism from other chains and vice versa. > * Goal: events or actions that occur after the bridging > * Destination: The usage of assets after bridging
Method%
In the current dashboard I gathered the native Optimism gateway, Across, and Hop protocol bridging from Ethereum to Optimism transactions data by ethereum.core.ez eth transfers, ethereum.core.ez token transfers and ethereum.core.fact_event_logs table to track where are they going and what is their gaols.
So I Used Standard OP bridge contract address (0x99c9fc46f92e8a1c0dec1b1747d010903e884be1) to determine which type of transaction was handled. By aforementioned tables, I was able to obtain the addresses of all bridging users. I next looked at when they made their first transaction on the Optimism network, if that date was later than when they made their transfer on the Ethereum network. Then, I used every table I could find and, using the ideas I had for transactions, picked the 10 most popular destinations in each section. Similarly, I gathered same data from Hob protocol and across.
To find the required date on Across bridge I used the following method:
regexp_substr_all(SUBSTR(DATA, 3, len(DATA)), '.{64}') AS segmented_data,
ethereum.public.udf_hex_to_int(segmented_data[0])::number/1e18 as amount,
ethereum.public.udf_hex_to_int(segmented_data[2]) as Chain_Id
from ethereum.core.fact_event_logs
where contract_address = lower('0x4D9079Bb4165aeb4084c526a32695dCfd2F77381')
and origin_function_signature in ('0x49228978')
and Chain_Id = '10'
Finally, I found some actions have had more than 90% share count of transactions count after bridginh that was include:
Event, Velodrome Swaps, Buy NFT, Delegate, Sushi Swap, Velodrome LP, Velodrome Staking, Velodrome Votes
So, whereas Event, Velodrome Swaps were the most popular goals of bridge destination, I presented the evaluations for this two actions, but you can change those by header tapes to see other types of bridge transactions goals.
In this dashboard, only the number of users and their transactions have been checked on past month, 3 past months & 6 past months, respectively.
The core Idea of the dashboard and main structure of SQL queries are credited to @sajjadsmoke#5567’s Dashboard.
Analysis
More Definitions: For a better understanding of the charts, the groups are numbered as follows: -
- Group number 1 shows the vote on the velodrome platform, Coded by
concat('1. Vote to velodrome: ', pool_name )as Destinations - Group number 2 shows doing a swap on the velodrome platform, Coded by
concat('2. Swap in velodrome: ', pool_name )as Destinations - Group number 3 shows the Stake on the velodrome platform, Coded by
concat('3. Stake in Velodrome: ', pool_name )as Destinations - Group number 4 shows the add a liquidity on the velodrome platform, Coded by
concat('3. Stake in Velodrome: ', pool_name )as Destinations - Group number 5 shows doing a swap on the Sushi platform, Coded by
concat('4. LP in Velodrome: ', pool_name )as Destinations - Group number 6 shows the events, which are divided into 3 categories: transfer, swap and approval, Coded by
concat('5. Swap in Sushi: ', pool_name )as Destinations - Group number 7 shows the delegate, Coded by
concat('5. Swap in Sushi: ', pool_name )as Destinations - Group number 8 shows purchases from an NFT collection, Coded by
case when event_name = 'Transfer' then concat('6. transfer Event: ', address_name) when event_name = 'Swap' then concat('6. Swap Event: ', address_name) end as Destinations
✍🏻 Conclusion
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The share of transactions count and unique Bridgers on Across and hop protocol increased over past month than past 3 months.
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Amongst all actions that can done in optimism chain, Event and Velodrome Swap are the most popular goals.
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The most common types of events released by recent optimism bridgers are Transfer (1st), Swap. After bridging to the Optimism, the vast majority of bridgers' final destinations are other swap routers like Uniswap (the most popular destination of all time), Velodrome, 1inch Exchange etc. as well as other tokens like OP, USDC, and ETH. In addition to Bitcoin and Ethereum, other bridge protocols, such as NFT marketplaces, have become very popular.
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If you look at the number of deals made by bridgers after they cross to Optimism, you'll see that DeFi is by far the most common destination. However, after bridging their asset to Optimism, a larger percentage of bridgers have engaged with Layer2 applications.
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And finally, I’m glad to share this research with those who care about this issue via Twitter link, and will be pleased by your comments.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
Optimism Bridges Destinations
Where do people go when they bridge to Optimism from Ethereum? \n
What are the 10 most popular first destinations for users that have just bridged from Ethereum? What has this been for each day in the past month? How has this changed over the last three months? Last six months? \n
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I'm Hamed, a civil engineering Ph.D.
student interested in data analysis.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please take a look at my various contact details and let me know what you think.
Now, let us know what was the goals of bridging? :mag:
The PIE charts right present the results of a more deep dive into transaction assessing.
As can be seen, 68.5% of transactions were performed on Event action after bridging, followed by swapping on Velodrome platform with 25.7%, and the share of other actions was only 5%.
So, in the following, I tried to more deeply dive into assessing the Event & Velodrome Swaps transactions to learn more about the bridgers' destinations.
If you would like to know about other actions, ==change== the title by the above tapes.
The most Popular Bridges Over Past 3 Months :mag:
As previous, we would to know which goals and destinations are the most popular for Bridgers.
As of PIE charts right, can be observed, the most transactions done to transfer assets by Standard OP bridge with 61.7%, followed by Hop protocol by 33.5% and Across has had the lowest percent of bridge transactions count (4.85%) over the past 3 month.
:telescope: Findings:
The share of transactions count of the most top 2 popular goals are shown in the charts right.
As of this, Event with 72.4% of transactions was more than 2.5x over Velodrome Swaps share.
Also, amongst all Bridgers, who their goals is this tow actions, 81% of them performed their transactions to Event action after bridge against to 19% for velodrome swapping.
:hourglass_flowing_sand: The Following Visuals show the Event & Velodrome activities after bridge over past month.
Which Bridges are the most Popular Origin? :mag:
As the first step, we would to know which goals and destinations are the most popular by Bridgers.
As of PIE charts right, can be observed, the most transactions done to transfer assets by Standard OP bridge with 44%, followed by Hop protocol by 38% and Across has had the lowest percent of bridge transactions count (17.6%) over the past month.
But, the Hop protocol has had the unique Bridger share than other two bridges, so that, 55.4% of all three platforms Bridgers tend to use Hop, 43.1% Standard OP and only 1.52% of users prefer to used Across to bridge their assets to Optimism.
:telescope: Findings:
In the PIE charts right the share of total transactions count and number of users per each destination are shown.
As of this charts, its observable that, Transfer to Uniswap V3 with nearly 10% of transactions count are the first destination to bridges transactions comes from Hop protocol, followed by swapping with same percentage.
Overall, more than 32% of total number of bridges transactions destination from Hop protocol and Standard OP bridge was the Uniswaps’ platform.
Over 35% of transactions performed to transfer assets to Velodrome finance, project galexy & Curve finance.
Note: Top 2 ==goals== is different from Top 10 ==destinations==. Please consider
:telescope: Findings:
- As of charts above, 25.6% of transactions are belongs to transfer and swap to/on Uniswap v3, nearly 20% transfer to velodrome finance and project galexy, too.
- 5.6% of transactions performed on Velodrome to swap WETH to USDC, and 5.3% transferred to 1inch platform.
- The most of swapping transactions on velodrome performed to swap WETH & USDC to/from other assets.
:telescope: Findings:
Bar charts above show the total number of unique Bridgers & count of transactions per destination after bridging.
As can be seen transfer to Uniswap v3 has had the most number of Bridgers & transactions count with over 20K Bridgers that performed over 40K transactions.
:hourglass_flowing_sand: The following charts show the count of transactions per destinations over past month.
:telescope: Findings:
As of charts above, in Oct 30th, the count of transactions per destinations peaked at 30K over past month, also the raise in transactions count since Oct 26th from below 15K to 30K in Oct 30th is considerable.
Overall, the count of unique Bridges users & transactions count increased in daily over past month.
:hourglass_flowing_sand: The following charts show the Distribution of transactions count per destinations over past month.
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As of following charts, daily transactions count for swapping on velodrome after bridging from Ethereum increased over past month.
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Trabsfer to Aave protocol v3 decreased and on Oct 26th till 30th, with increasing in transactions count after bridging, transfer to and swaps on Uniswap v3 decreased, so can be resulted swappers migrate to Velodrome from Uniswap v3.
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:telescope: Findings:
In the PIE charts right the share of total transactions count and number of users per each destination are shown.
As of these charts, its observable that, Transfer to Velodrome finance with nearly 11% of transactions are the first destination to bridges transactions comes from Standard OP, followed by swapping on Uniswap v3 with same percentage.
Overall, more than 52% of total number of bridges transactions destination from Hop protocol and Standard OP bridge was the Velodrome & Uniswaps’ platforms.
Over 20% of transactions performed to transfer assets to Velodrome finance, project galexy & Curve finance.
:telescope: Findings:
The share number of transactions of the most top 2 popular goals are shown in the charts right.
Similar to previous section, Event with 71% of transactions was more than 4x over Velodrome Swaps share.
Also, amongst all Bridgers, who their goals is these two actions, 75% of them performed their transactions to Event action after bridge against to 25% for velodrome swapping.
:hourglass_flowing_sand: The Following Visuals show the Event & Velodrome activities after bridge over ==past 3== month.
:telescope: Findings:
- As of charts above, 15% of transactions are belongs to transfer and swap to/on Uniswap v3, nearly 14% transfer to velodrome finance and project galexy, too.
- 8.5% of transactions performed on Velodrome to swap WETH to USDC, and 8% transferred to prepetual protocol with 6.54% to swaps on prepetual trading.
- The most of swapping transactions on velodrome performed to swap WETH & USDC to/from other assets such as OP, sUSD, Velo, SNX, DOLA & DAI.
:hourglass_flowing_sand: The following charts show the Distribution of transactions count per destinations over past 3 month.
- As of following charts, since Sep 15th, daily share of transactions with transfer Event destinations to project galexy begun as increased.
- Totally, can’t see a meaningful trend of most popular destinations than past month in previous section.
:telescope: Findings:
Bar charts above show the total number of unique Bridgers & count of transactions per destination after bridging.
As can be seen transfer to Uniswap v3 has had the most number of Bridgers & transactions count with over 150K Bridgers that performed over 40K transactions.
:hourglass_flowing_sand: The charts right show the count of transactions per destinations over ==past 3== month.
The most Popular Bridges Over Past 3 Months :mag:
Similar to previous sections, I tried to know which goals and destinations are the most popular for Bridgers.
As of PIE charts right, can be observed, the most transactions done to transfer assets by Standard OP bridge with 74.3%, followed by Hop protocol by 25.7% and Across has had the close to zero percent of bridge transactions over the past 6 month.
:telescope: Findings:
The share number of transactions of the most top 2 popular goals are shown in the charts right.
Similar to previous sections, Event with 71.2% of transactions was more than 2.5x over Velodrome Swaps share.
Also, amongst all Bridgers, who their goals is these two actions, 75.6% of them performed their transactions to Event action after bridge against to 24.4% for velodrome swapping.
:hourglass_flowing_sand: The Following Visuals show the Event & Velodrome activities after bridge over ==past 6== month.
:telescope: Findings:
- As of charts above, 13.6% of transactions are belongs to transfer and swap to/on Velodrome, nearly 12.2% transfer to Uniswap v3.
- 8.15% of transactions performed on Velodrome to swap WETH to USDC, and 7.11% transferred to prepetual protocol.
- Similar to past 3 months, the most of swapping transactions on velodrome performed to swap WETH & USDC to/from other assets such as OP, sUSD, Velo, SNX, DOLA & DAI.
:telescope: Findings:
- Bar charts above show the total number of unique Bridgers & count of transactions per destination after bridging.
- As can be seen transfer to Velodrome finance has had the most number of Bridgers with over 300K Bridgers that performed nearly 60K transactions.
- In the other hand the most number of transactions performed to transfer bridged assets to Uniswap v3.
:hourglass_flowing_sand: The charts right show the count of transactions per destinations over ==past 6== month.
- Overall, the count of unique Bridges users & number of transactions increased in daily over past month.
- The number of transactions after bridging peaked at nearly 50K in Sep 6th.
- Last decade of Sep and Oct the number of unique Bridgers increased approximately 2x.
:hourglass_flowing_sand: The following charts show the Distribution of transactions count per destinations over past 6 month.
- Daily share of transferred destinations to Aave protocol smoothly increased over past 6 month.
- Totally, similar to over past 3 month can’t see a meaningful trend of most popular destinations than past month in previous section.