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Comparison of input and output volume to Optimism, Ethereum networks.
Introduction
In this dashboard, we are going to get the total volume of input and output of the network of the first layer and the second layer of the Ethereum network, the Ethereum network itself, and Optimism, which is transmitted through the hop protocol. And we also check the trend of daily changes in the last one month as the volume of input and output of these two networks, both in general and separately for ETH currencies, and three desired stable currencies such as USDC, USDT, DAI
What is Ethereum?
Ethereum is a decentralized, open source, and distributed computing platform that enables the creation of smart contracts and decentralized applications, also known as dapps.
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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. If it works on Ethereum, it works on Optimism at a fraction of the cost.
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What is Hop protocol bridge ?
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.
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In these two figures, the input and output volume of Ethereum and Optimism networks have been transferred through the Hop protocol (Bridge) with ETH, USDT, USDC, DAI tokens both in percentage and quantity using a donut chart to compare the total input volume. And the output of this shower is done. By comparing these two figures, we can conclude that the largest volume transferred to these two networks is related to the ETH token. And among stablecoins, the USDC token has the largest volume of exchange.
Result
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Among the currencies, ETH currency has the largest total exchanged dollar volume among the two networks of layer one and layer two, Ethereum and Optimism. And among stablecoins, USDC has the largest volume exchanged between these two networks.
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The total volume of input and output dollars of Optimism and Ethereum are almost the same.
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More ETH has been transferred from the Optimism network to Ethereum than from Ethereum to Optimism.
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In stable coins, the largest volume of dollars was from the Ethereum network to Optimism.
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In the past one month, the trend of daily changes of currencies exchanged between the two networks has fluctuated, which can be related to the current fluctuating conditions of the crypto market.
In the figure on the left, the total volume of ETH, USDC, USDT, DAI tokens transferred from the Ethereum network to Optimism is compared to the transfer of these tokens from the Optimism network to Ethereum. By comparing these two values, it can be concluded that the volume exchanged between these two networks is almost the same. In the figure on the right, the dollar volume of each token mentioned in this exchange between two networks is compared in the bar chart.
In the figure on the right, the changes in the daily trend of the dollar volume of the aforementioned tokens transferred from the Optimism network to Ethereum in the past month have been analyzed in the form of area and logarithmic charts. In the figure on the left, the changes in the daily trend of the dollar volume of the aforementioned tokens transferred from the Ethereum network to Optimism in the past month have been analyzed in the form of area and logarithmic charts.
The trend of changes in the dollar volume of the daily transfer (Bridge) from the Hop protocol of each token (ETH, DAI, USDC, USDT) has been investigated separately in the exchange between the two networks of the first layer of Ethereum and the second layer of Ethereum (Optimism) in the last one month. Am.
Methodology:
Total Volume USD of Bridge: To calculate the total dollar volume of bridge coins from OPTIMISM to ETHETREUM. To obtain the total dollar volume of each coin from the CONTRACT_ADDRESS filter in the optimism.core.fact_event_logs table (this CONTRACT_ADDRESS is actually related to the bridge from the OPTIMISM network to the ETHEREUM network with the Hop protocol. ) then with primary_key, TX_HASH, we added the volume of transactions together. Regarding stablecoins: since the unit price of each coin is one dollar, we do not need to calculate their dollar price, but for ETH, since its price is variable, we must include its daily average price. We count every day and by JOINing the obtained transaction volume and the daily average price, we calculated the dollar volume of each day. We did exactly the same thing for BRIDGE from ETHEREUM network to OPTIMISM. It should be noted that we also used other filters to obtain related transactions. To get BRIDGE transactions from Ethereum to OPTIMISM, filter EVENT_NAME = 'TransferSentToL2' and ORIGIN_FUNCTION_SIGNATURE = '0xdeace8f5' In fact, it filters the transfer transactions through the bridge from the ethereum network to the layer two networks and with the filter left(INPUT_DATA, 74) = '0xdeace8f5000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 to us, it only gives us the transactions to OPTIMISM. Regarding the transfer of Bridge from Optimism to Ethereum, we used the TX_JSON:logs[0]:decoded:eventName='WithdrawalBonded' filter from the optimism.core.fact_event_logs table to filter the transactions of the bridge.
Compare Total volume USD Bridge: To compare the total dollar volume of each COIN, from ETHEREUM to OPTIMISM, from OPTIMISM to ETHEREUM, it is enough to show the data obtained in the previous part together. Let's compare. To compare the total volume in the donut chart, it was enough to consider our GROUP more generally to get the total BRIDGE volume of each one.
Daily Volume USD of Bridge: To get the daily trend changes in the last month, it is enough to add the date category to the above codes and apply the time grouping as well.