Intro

What this dashboard is gonna cover?

In this dashboard we're gonna see some metrics about usage of USDC on Avalanche, Arbitrum, Optimism, and Polygon.

USDC is one of the top stablecoins in defi in terms of market cap. Users use it for normal txs, maybe holding in bear market etc... USDC supports lot's of chains such as Arbitrum, Ethereum, and Avalanche. Find the full list here

In recent months, L2s topic has been really hot, because they are solving the biggest problem in defi industry; which is scaling of Ethereum. Lot's of solution have came so far, but most of them are gone as of now. Avalanche is one the top chains that has offered solutions to solve this problem. But there are other chain that offer same thing; scalibility. Hottest chains that offer scalibility for Ethereum are L2s; which are Polygon(technically it's side chain), Optimism, and Arbitrum. Both Arbitrum and Optimism gave user airdrops and are giving incentives to attract them from other ecosystems. Polygon is an old solution that offer scalibility with very low fee, and now is doing some major upgrades.

Can Avalanche competewith them in terms of USDC usage?

How was the past months for Avalanche againts L2s?

Which chain has highest supply of USDC? Highest users of USDC?

Stay with me to get the answer from CHARTS!

Methodology

USDC contracts

Avalanche USDC.e : 0xA7D7079b0FEaD91F3e65f86E8915Cb59c1a4C664 USDC : 0xb97ef9ef8734c71904d8002f8b6bc66dd9c48a6e

Arbitrum USDC.e : 0xff970a61a04b1ca14834a43f5de4533ebddb5cc8 USDC : 0xaf88d065e77c8cC2239327C5EDb3A432268e5831

Optimism USDC : 0x7f5c764cbc14f9669b88837ca1490cca17c31607

Polygon USDC : 0x2791bca1f2de4661ed88a30c99a7a9449aa84174

USDC supply :

FS doesn't support Optimism, Polygon, and Arbitrum data completly, so I had to add some numbers to get the right supply

USDC mint and burn :

For burn, any amount that have been sent to burn address(0x0000000000000000000000000000000000000000) has been considered as burnt token. Any token that have came from burn address has been considered as minted token.

In weekly txs/users/transfered amount, any transactions that have interacted with burn address hasn't been considered.

All data have been generated from 2022-04-11 until now.