Introduction

In the Distinct Wallets investigation, we looked at how many deposits in ETH and ETH in $ have been moved into zkSync, in this investigation we'll look into other ERC20 tokens deposited into zkSync.

Amount Deposited by ERC20

The amount deposited by ERC20, over the past 60 and 90 days. Let's first look at some general stats and then dig into over-time graphs.

When looking at the last 60 and the 90-day total amount deposited by ERC20, we can see that USDC, USDT and WBTC dominate the top 3 in both cases. The only difference between the 60 and 90-day are that on the 60-day there's no FRAX in the bottom ones but there is rETH (Rocket Pool ETH).

Average amount by user

Let's now look at the average amount in $ by ERC20 token deposited by a unique wallet in the last 60 and 90 days.

What we can see in this view is that there's a large variety of ERC20 tokens that have been bridged over to zkSync over both the past 60 and 90 days, with about 69 and 77 distinct ERC20 tokens being bridged over on the 60 and 90-day timeframe respectively.

The 3 major spikes that can be easily identified when looking at the 90-day format consist of USDT, USDC, DAI, WETH and WBTC for the most part and by the looks of it it was probably 1-2 wallets that deposited these tokens.

This view gives us a different perspective as when looking at the amount deposited per unique wallet, we can see that GVT, wstETH and WBTC are in the lead. Some other interesting ones in there are SAND, FRAX, agEUR and STORJ. This is compared to previously where the top ones came from this massive 1-2 whale transaction and consisted of USDC, USDT and WBTC. The only one that is still here from these ones is WBTC which makes it seem like a lot of users brought in WBTC to zkSync to trade with/against.

When looking at the April 15th spike, one interesting thing we can see, compared to the total amount daily by the symbol that we looked at earlier is that the ~1M in DAI, the HEX, MVI, stETH amounts have all each been bridged over by one unique wallet. This does not mean that it was the same wallet for all, but that the transactions were made by one wallet and that it was probably a whale wallet or an entity wallet, bringing liquidity over to the chain. Similarly on May 11th ~2.9M in WBTC and ~4k in WETH were also each bridged by a unique wallet and were not spread by multiple wallets, which is interesting.

Summary

In summary, we've looked at 2 metrics, Total Amount and Average Amount by unique wallet, to establish what was going on in the last 60 days and compared them to 90 days, in terms of ERC20 deposits on zkSync. We've established a few interesting trends in terms of unique wallets bringing funds into zkSync and speculated about the potential reason(s) why.