Introduction

Optimism Like other L2 solutions, produce an opportunity to be a new scaling solution for Ethereum without compromising security and decentralization as shown in the trilemma. Optimistic Ethereum is an EVM compatible rollup chain designed to be fast, simple, and secure, and allows users to interact with any Ethereum application at a fraction of the cost by using optimistic rollups.

Biconomy’s (Hyphen) integrated in-game bridge, Hyphen, is a transfer method that offers easy and quick transfers between different blockchains.

We have been beta testing it under the title ‘Fast Transfer Method’ in the ZED RUN Wallet. Previously, we were using the Polygon Bridge, however Hyphen is now becoming the default bridging option and we will be removing the Polygon Bridge option.

Across is a protocol for optimistic cross-chain bridges that allows users to complete transactions on different chains at a timescale that is very near to instantaneous. This is made possible by the fact that Across is a cross-chain bridge. This objective is attainable with the implementation of an optimistic oracle, bonded relayers, and single-sided liquidity pools, as these are the mechanisms by which this goal can be accomplished.

Hop protocol is a mechanism for transferring tokens over a shared layer 1 network quickly and without trust. It provides customers with a two-pronged token bridge for Ethereum's layer 2 network. The solution aims to facilitate the rapid movement of a token between layer 2 and a scaling solution's governance token.

Method

I needed some contracts before I could create a dashboard that compared the native Optimism gateway as a standard OP bridge to three other bridges Hyphen, Across, and Hop. I split Optimism native bridge transactions into two groups, ethereum and non-ethereum, and looked at the associated contract (0x99c9fc46f92e8a1c0dec1b1747d010903e884be1) to determine how each type of transaction was handled. From Ethereum tables (ethereum.core.ez eth transfers and ethereum.core.ez token transfers), 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 five most popular destinations in each section. Similarly, I split out Ethereum and non-Ethereum transactions in Hob protocol. For the Hyphen protocol, I used the following contract: 0x856cb5c3cbbe9e2e21293a644aa1f9363cee11e8.

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The visuals presented to show the comparision between Optimism native gateway and Hyphen, top 20 destinations was selected, and all the written explanations are based on the last 3 month in weekly, but you can change those by above tapes by your own choice.

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In this dashboard, only the number of users and their transactions have been checked.

The core Idea of the dashboard and main structure of SQL queries are credited to @sajjadsmoke#5567’s Dashboard.

Analysis

Definitions: For a better understanding of the charts, the groups are numbered as follows: -

• Group number 1 shows the vote on the velodrome platform
• Group number 2 shows doing a swap on the velodrome platform
• Group number 3 shows the Stake on the velodrome platform
• Group number 4 shows the add a liquidity on the velodrome platform
• Group number 5 shows doing a swap on the Sushi platform
• Group number 6 shows the events, which are divided into 3 categories: transfer, swap and approval
• Group number 7 shows the delegate
• Group number 8 shows purchases from an NFT collection

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:hourglass_flowing_sand: Part I: ETH token transferred transactions & user count to the Optimism network using the native bridge & Hyphen.

✍🏻 Conclusion

1. The users first destination for bridged token is Swap, and among the Swap platforms, they mostly choose uniswap v3, and velodrome.
2. In general, it can be seen that users who transfer Ethereum to Optimism through the native bridge & Hyphen are more tend to perform swaps after transfer transactions, .
3. On late of August, the number of transactions for users of ETH bridged tokens was more than other weeks.
4. The number of users also reached the highest number in over the last 3 month in the recent week.
5. among these swap and add liquidity transactions, the first token is Ethereum.
6. The count of unique users of bridged Non-ETH tokens also reached the highest number in the recent week, over 8K.
7. The velodrome swap still exists and is a popular user pool for WETH/USDC swaps.

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:

• 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

Describe activity across Optimism bridges.

The aims of dashboard:

• Where are assets coming from, where are they going, and how are they used?
• How does activity on custom bridges compare to the standard Optimism bridge?
• Include any other questions or insights you find interesting. \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.

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:hourglass_flowing_sand: Part II: Non-ETH token transferred transactions & user count to the Optimism network using the native bridge & Hyphen.

:telescope: Findings:

• The graphs right show the first destination of this group of users is mostly swap, and among the swap platforms, uniswap v3 includes a higher percentage of user transactions.
• The next activity is the swap again but this time on the velodrome platform and the WETH to USDC swap is more done
• A small number of add liquidity transactions are seen in Velodrome and swaps in Sushi
• The noteworthy point is that among these swap and add liquidity transactions, the first token is Ethereum.
• Destinations of Transferred tokens from Hyphen were the USDC & DAI Veldrome LP pools, Staking.

Overall, the transactions and unique user count over past 3 month mostly executed for the standard Optimism gateway.

:telescope: Findings:

• In the past 3 month, the visuals right show the number of transactions has slightly increased since early of Sep after a drop in August 28th, and the popular destinations for users of this category are swaps on standard Optimism gateway.

• On late of August, the number of transactions for users on both platforms reached at the highest number closely 55K.

• The count of unique users also reached the highest number in the recent week, over 8K.

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:telescope: Findings:

The following visuals the count and share of transactions and unique users for each actions.

• In general, it can be seen that users who transfer Ethereum to Optimism through the native bridge & Hyphen are more tend to perform swaps after transfer transactions.
• The most of number of transactions performed for swaps transactions that followed by transfer.

:telescope: Findings:

• The count of transactions and unique users of Non-ETH transferred token are the same as previous section and for the Swap destination is the highest, but among the Swap platforms, they first mostly choose is the velodrome.
• The velodrome swap still exists and is a popular user pool for WETH/USDC swaps

:telescope: Findings:

• The count of transactions increased since third week of July to closely 70K in late of August, and drop to below 40K in second week of Sep, increased again to more closely 70K in third week of Sep, and again drop to below 20K to date.

• In the past 3 month, the visuals right show the number of unique users has slightly increased week by week.

• The second week of Oct, the number of transactions for users on both platforms reached at the highest number closely 55K.

• The count of unique users also reached the highest number in the recent week, over 8K.

• As same as previous sections, swap on Veldrome platform is the first destination of transferred Non-ETH token with 65%, that followed by transferred transactions to Uniswaps v3 from standard Optimism gateway and biconomy by Hypher.

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