Optimism is a Layer 2 scaling solution for Ethereum that aims to improve the network's scalability and reduce transaction fees. It is designed to be compatible with the existing Ethereum ecosystem, allowing developers to quickly deploy their smart contracts and decentralized applications (dApps) on top of it.

At its core, Optimism is a type of optimistic roll-up, which means that it aggregates and compresses many transactions into a single batch, which is then sent to the Ethereum network. This helps reduce congestion on the main Ethereum chain, lower gas fees, and increase transaction throughput.

Optimism uses a unique mechanism called fraud proof to ensure the integrity of transactions. If a user detects an invalid transaction on Optimism, they can submit a fraud-proof to the Ethereum network, triggering a dispute resolution process. This process helps to deter bad actors and keep the network secure.

Overall, Optimism is a promising scaling solution for Ethereum that has the potential to improve the network's performance and usability significantly.

The "fact_token_transfers" table contains data on token transfers between wallets in the Optimism network, while the "fact_hourly_token_prices" table contains data on token prices on an hourly basis. The "dim_labels" table contains labels that help categorize different entities in the network.

By joining these three tables and applying the specified filters, the methodology aims to extract insights into the activities of users who transferred tokens from centralized exchanges (CEXs) to the Optimism network.

The data extracted from these tables are filtered based on a date range condition where only data from the past 180 days are selected.

Transfers

Top Transferred tokens from and to Optimism

In terms of the number of transactions, the token with the highest transfer frequency from Optimism to Centralized Exchanges (CEXs) is the OP token, with a total of 84.97k transactions. Conversely, the OP token also has the highest transfer frequency from CEXs to Optimism, with 92.49k transactions.

On the other hand, based on the USD volume of transactions, the OP token has the highest value transferred from Optimism to CEXs, amounting to 36.6 billion USD. Similarly, the OP token has the highest value transferred from CEXs to Optimism, amounting to 37.8 billion USD.

Top CEXs

Binance emerges as the top Centralized Exchange (CEX) based on the number of transactions and the USD volume of transactions with Optimism. In terms of the number of transactions, Binance had the highest number of transactions from Optimism to CEXs, with a total of 78.19k transactions. Similarly, Binance also had the highest number of transactions from CEXs to Optimism, totaling 85.73k transactions.

Regarding the USD volume of transactions, Binance also emerges as the top CEX. Binance had the highest volume of transactions from Optimism to CEXs, with a total of 32.87 billion USD. Similarly, Binance also had the highest USD volume of transactions from CEXs to Optimism, with a total of 33 billion USD.

Platforms

Top three weekly platforms (First tx after landing to Optimism from CEXs )

Based on the number of transactions, the top three platforms in the week starting from February 20th were Uniswap, Velodrome, and Hop. Uniswap had the highest number of transactions, with a total of 388, followed by Velodrome and Hop, with 274 transactions each.

On the other hand, when we consider the USD volume of the first transactions after landing to Optimism from CEXs, the top three platforms in the week starting from September 12th, 2022, were Multichain, Hop, and Uniswap. Multichain had the highest USD volume of transactions, with a total of 1.59 million USD, followed by Hop with 61.75k USD and Uniswap with 17.5k USD.

Top 10 projects

Analyzing the data on the top 10 platforms based on the first transaction after landing to Optimism from CEXs, it can be observed that Hop protocol holds the first position with 2726 transactions, accounting for 28.9% of the top 10 platforms. Following closely is Uniswap with 2520 transactions, constituting 26.7% of the top 10 platforms. In the third position is Velodrome finance with 1391 transactions, making up 14.7% of the top 10 platforms. The remaining 7 platforms, ranked from 4th to 10th based on the number of transactions, have a combined total of 3647 transactions, accounting for 38.6% of the top 10 platforms

The data shows that the top 10 platforms for the first transaction after landing to Optimism from CEXs can be ranked based on their USD volume. The first position is held by Hop protocol, with a total USD volume of 4.44 million, which represents 26.2% of the top 10 platforms. Uniswap comes in second place with a total USD volume of 3.21 million, representing 19% of the top 10 platforms. The third position is occupied by Multichain, with a total USD volume of 2.82 million, which represents 16.7% of the top 10 platforms.

Other platforms that made it to the top 10 include Synthetix, Arbitrum, Stargate, Sonne finance, AAve, 1inch, and Velodrome finance.

Activities

In terms of the number of transactions, the highest activity was seen in DEX with 6962 transactions, followed by layer2 with 3235 transactions, and DeFi with 2444 transactions.

On the other hand, in terms of USD volume, layer2 had the highest activity with 7.39 million USD, followed by DEX with 6.27 million USD, and DeFi with 5.12 million USD. This indicates that users who are landing on Optimism are actively engaging in these categories to transact their digital assets.

NFT Collections

After users land on the Optimism network from centralized exchanges (CEXs), they have engaged in various activities, including purchasing NFT collections. Based on the number of transactions, the top two NFT collections bought by users after landing on Optimism are the Optimism collection and Mirror. The Optimism collection had four transactions, representing 20% of the top 10 collections, while Mirror had three, representing 15% of the top 10 collections.

The top NFT collections that users bought after landing on Optimism from CEXs based on USD volume are The Vintract and Optimism. The Vintract collection had a total of 118.5 USD transactions, representing 34.8% of the top 10 collections. Meanwhile, the Optimism collection had a total of 81.89 USD in transactions, accounting for 24.1% of the top 10 collections.

Swap Activities

When it comes to swap activities after landing to Optimism from CEXs, the top pair based on number of transactions was OP -> USDC with 507 transactions. This means that users were frequently swapping OP tokens for USDC on the Optimism network.

On the other hand, the top pair based on USD volume was USDC -> Velo with 257.3k USD. This suggests that users were swapping large amounts of USDC for Velo tokens on the Optimism network.

Event name

After users land on Optimism from CEXs, they engage in various events related to network. Based on the number of transactions, the top two events are transfer and swap. Transfer stands out with 21.4k transactions, while swap follows with 5025 transactions.

On the other hand, when we analyze the events based on USD volume, transfer comes out on top again, with a whopping 237.4 million USD. The second event based on USD volume is Approval, with a value of 16.4 million USD. These data show that transfer and swap are the most common events that users participate in after landing on Optimism from CEXs. Furthermore, transfer event is the most significant contributor in terms of USD volume.

Based on the provided data, we can see that there has been significant activity on the Optimism network since users started landing on it from centralized exchanges (CEXs). The top transferred token from Optimism to CEXs, and vice versa, was the OP token, with many transactions and significant USD volume. Binance was the top CEX based on both the number of transactions and USD volume.

When it comes to the top platforms based on the number of transactions and USD volume for the first transaction after landing on Optimism from CEXs, we can see that Hop Protocol, Uniswap, and Velodrome Finance were among the top three for both categories. Additionally, we can observe that there has been significant activity on DEX, layer2, and DeFi platforms after landing on Optimism from CEXs, with high transaction numbers and USD volumes.

Finally, in terms of NFT collections and swap activities, we can see that Optimism and Mirror were among the top collections in terms of the number of transactions, while The Vintract and Optimism were the top collections in terms of USD volume. The top pair for swap activities based on USD volume was USDC -> Velo, while the top event names based on the number of transactions and USD volume were Transfer and Approval, respectively.

Overall, the data indicates a healthy level of activity on the Optimism network since users began landing on it from CEXs, with various platforms and activities drawing user interest.

Users

During the last 180 days, there were a total of 67.92k users who had transactions from Optimism to Centralized Exchanges (CEXs). This number constitutes 52% of all the users who engaged in transactions on the platform during this time period. On the other hand, the number of users who had transactions from CEXs to Optimism was 62.74k, which represents 48% of all the users.

Additionally, the weekly transaction data reveals that the highest number of users who had transactions from Optimism to CEXs over the last 180 days occurred during the week starting on February 6th, with a total of 8972 users recorded. In contrast, the highest number of users who had transactions from CEXs to Optimism during this period was recorded during the week starting on February 13th, with a total of 5094.

Over the last 180 days, the total number of transactions from Optimism to Centralized Exchanges (CEXs) was 112.95k, which represents 47.4% of all the transactions that occurred on the platform during this time period. Conversely, the total number of transactions from CEXs to Optimism was 125.29k, accounting for 52.6% of all transactions on the platform during this period.

Further analysis of the weekly transaction data shows that the week starting on February 6th recorded the highest number of transactions from Optimism to CEXs over the last 180 days, with a total of 11.74k transactions. In contrast, the highest number of transactions from CEXs to Optimism during this period was recorded during the week starting on November 7th, with a total of 8880 transactions.

Transactions

The total USD volume of transactions from Optimism to Centralized Exchanges (CEXs) was 46 billion, which accounts for 49.4% of all the USD volume of transactions that occurred on the platform during the analyzed period. The total USD volume of transactions from CEXs to Optimism was 47.19 billion, representing 50.6% of the USD volume of transactions on the platform during this period.

Further analysis of the weekly transaction data shows that the week starting on February 6th recorded the highest USD volume of transactions from Optimism to CEXs over the last 180 days, with a total of 4 billion USD. In contrast, the highest USD volume of transactions from CEXs to Optimism during this period was recorded during the week starting on February 6th, with a total of 4.53 billion USD.

Additionally, the cumulative USD volume of transactions from CEXs to Optimism has increased significantly from 62 million USD at the beginning of the analyzed period on the week starting from September 5th, 2022, to 47.19 billion USD during the week starting on March 6th. Similarly, the cumulative USD volume of transactions from Optimism to CEXs has also increased from 88.61 million USD at the beginning of the analyzed period to 46 billion USD during the week starting on March 6th.