What is the Question?🚨

Analyze Optimism during the recent bear as markets were turbulent, showing whatever metrics you care to unearth.

You can choose any topic you’d like: How did the network perform? What about market performance? Were there significant inflows or outflows on bridges? Were there any notable patterns in user behavior?

Analyzed Topics:

1. Swap Activity
2. NFT Activity
3. Bridge Activity
4. Network Perfromance

Introduction🚩

What is Optimism?

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises. Optimism is a scaling solution for Ethereum that can support all of Ethereum's Dapps. Instead of running all computation and data on the Ethereum network, Optimism puts all transaction data on-chain and runs computation off-chain, increasing Ethereum's transactions per second and decreasing transaction fees.

What is OP Token?

Optimism (OP) is the native token of Optimism, OP has a total supply of 4.294 billion. The OP token gives holders participation rights in The Optimism Collective, a two-tier governance system composed of Token House and Citizens’ House. Citizens’ House will come live later in 2022. Token House, which is already active, governs technical decisions related to Optimism, such as software upgrades. The Citizens’ House governs public-goods funding decisions. In its early days, Optimism itself raised funds on Gitcoin, a major public-goods funding platform.

Method⚡

In this dashboard, i analyzed Optimism Network in 4 sections to see how it behaved in the bearish market since July.

I Used multiple tables from Optimism , Ethereum, Polygon and Arbitrum databases provided by Flipsidecrypto .

I analyzed all the data for past 4 months since July ==2022-07-01== until this day ==2022-11-09.==

Findings👀

• In this section, i showed Optimism swap activity in past 4 months since July and see how it behaved in bearish market.
• As we see, after late Sep more users joined optimism to swap and most of them were in Uniswap and Velodrome.
• In overall, Velodrome recorded more number of swaps while Uniswap had more swappers.
• Swap volume was so bearish in these 4 months and it reached to its lowest in mid October, right 3 months after its highest of all time on July 29th.
• A total of 196.7K swappers recorded over 7.5M number of swaps since July on Optimsim.
• Velodrome and Uniswap were the most popular platforms for Optimism swappers to swap their assets, Rubicon will place in the third place after them.

Findings👀

• In the above bar charts, i showed top 5 swapping pools on Optimism in terms of number of swaps and swappers in past 4 months.
• OP/USDC is the most popular pool in terms of number of swaps and USDC/WETH is the most popular pool in terms of number of swappers over time.
• It seems like Stabelcoins especially USDC are so popular and usable for swappers.

1. Swap Activity

2. NFT Activity

Findings👀

• These charts and graphs are showing Optimism NFT market activity since July and show how optimism react in bearish market, does bearish market even effect on NFT market?
• As we observe here, After September 20th, number of NFT sales increased.
• Optimism NFT Volume in USD recorded an all time-high since July on Sep 21th with 600K volume in USD and after that it dropped dramatically, but at the end it performed better on USD Volume after that date.
• A total of 130K number of buyers and sellers recorded over 170K sales and over 4.3M USD Volume over time since July.
• It seems like bearish market didnt put that effect on NFT market and it is slowly recovering.

3. Bridge Activity

Findings👀

• Above charts are showing total and daily number of bridges, bridgers and bridge volume in different angles since July.
• It seems like October was a hot month for Optimism Bridging stats and these stats recorded an all-time high since July on Oct 30th with over 1.1K bridges and 1K bridgers.
• Ethereum to Optimism recorded bigger stats than Optimism to Ethereum, over 34K bridges sent to Optimism from Ethereum, in the meanwhile only 2875 bridges sent to Ethereum from optimism since July.
• Bridge different type of volumes has recorded so many fluctuations but didnt change that much.

Findings👀

• Above charts are showing Different distributions of bridges by number of bridges, bridgers and bridge volume in USD.
• Most of the bridgers recorded only one bridge and left forever on both sides.
• Most of the bridgers were bridging under 100$ (over 12K bridgers).
• Most of the bridges were between 10$-1000$ (Over 15.5K bridges).
• Suprisingly, most of the bridges from Optimism to Ethereum were more than 10000$.

Findings👀

• These 2 graphs are showing top 5 ethereum to optimism and optimism to ethereum most bridged tokens since July in terms of Bridge volume.
• It seems like USDC is the most popular token to bridge between these sides, 578M USD Volume of USDC bridged to Optimism from Ethereum and 392M USD Volume USDC bridged from Optimism to Ethereum.
• In these top 5s that we are comapring, at least 2 of them are stablecoins, USDC & USDT from ethereum to Optimism and USDC & DAI from Optimism to Ethereum.

4. Network Performance

==Credit to 0xHaM☰d==

Findings👀

• The above charts are showing total and daily Optimism network performance in different angles since July.

• In these Charts can observed that over past 4 month the Block count per minutes increased , so that blocks per minutes on Optimism network from 76 on early of July went up to 188 on Nov 6th.

• Optimism In the comparison with 3 more blockchains, Polygon & Ethereum & Arbitrum, created the most Blocks/Minute in past 4 months since July.

• Daily tx count on Optimism raised from 100 to over 300 since July till early of Nov.

• and Unique users have had a same change rate in smoother trend. and in this period time fees per days decreased from $0.6 to $0.11 on Optimism Network,

  as same as other chains.

• Among these 4 chains, Ethereum had the most number of users and average transaction fees but suprisingly Polygon Had so many more transactions than the other 3.

• Over 37M Users recorded over 355M transactions on Polygon Over time. It is interesting that while Polygon is in the second place in number of users, but it recorded so many more transactions than others.

• Recently, Ethereum recorded its highest average generated fees on November 8th.

• Optimism has the lowest stats between these chains that i compared because it has launched recently and has long way to go.

• Polygon has the highest number of transactions with the lowest amount of average transaction fees.

• Over 2.5M users recorded almost 22M transactions on Optimism since July.

Conclusion💡

• after late Sep more users joined optimism to swap and most of them were in Uniswap and Velodrome.
• In overall, Velodrome recorded more number of swaps while Uniswap had more swappers.
• Swap volume was so bearish in these 4 months and it reached to its lowest in mid October, right 3 months after its highest of all time on July 29th.
• A total of 196.7K swappers recorded over 7.5M number of swaps since July on Optimsim.
• OP/USDC is the most popular pool in terms of number of swaps and USDC/WETH is the most popular pool in terms of number of swappers over time.
• Stablecoins especially USDC are so popular in both swaps and bridges.
• Optimism NFT Volume in USD recorded an all time-high since July on Sep 21th with 600K volume in USD and after that it dropped dramatically, but at the end it performed better on USD Volume after that date.
• A total of 130K number of buyers and sellers recorded over 170K sales and over 4.3M USD Volume over time since July.
• It seems like bearish market didnt put that effect on NFT market and it is slowly recovering.
• October was a hot month for Optimism Bridging stats and these stats recorded an all-time high since July on Oct 30th with over 1.1K bridges and 1K bridgers.
• Ethereum to Optimism recorded bigger stats than Optimism to Ethereum, over 34K bridges sent to Optimism from Ethereum, in the meanwhile only 2875 bridges sent to Ethereum from optimism since July.
• Most of the Optimism bridges were between 10$-1000$ (Over 15.5K bridges).
• USDC is the most popular token to bridge between these sides, 578M USD Volume of USDC bridged to Optimism from Ethereum and 392M USD Volume USDC bridged from Optimism to Ethereum.
• Optimism In the comparison with 3 more blockchains, Polygon & Ethereum & Arbitrum, created the most Blocks/Minute in past 4 months since July.
• Optimism has the lowest stats between these chains that i compared because it has launched recently and has long way to go.
• Over 2.5M users recorded almost 22M transactions on Optimism since July.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

Twitter : Sbhn_np

Instagram : Sbhn_NP

Thanks for your time!

• OP’s highest and lowest daily prices were recorded on July 13($0.45) and 30($1.75), respectively.
• Most of the times OP Price moved with ETH price and kinda related to it.