Flow Direction: Optimism <->Base

    In this study we are going to try to understand how Base announcement being effect activity on Optimism. Before we start as reminder I want to share a reminder Base announced on 2023-02-23 14:11 and 14 day before that date Optimism has made an airdrop. And this airdrop was mainly for users who participate the gocernance when you are reading the metrics you should keep this information in mind.

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    Looking at the charts, we can see that there was only a small increase in the price of OP after the announcement about the Base. This suggests that other market conditions announcement does not have much impact on the price of $OP. Get some idea of how the announcement affected Otimism chain activity we can look at metrics like daily new addresses, gas usage, number of unique users, and transactions. Below the graphs, getting larger both in the past and future, as you can see in the legend section of some of them, the X-axis represents how many days before or after the announcement.

    It looks like Base deployement is pretty beneficary for Optimism Chain Activity we are seeing huge jumps on Chain Usage metrics. It is not a big suprise actually I think ecosystem still underestimates Base deployement. I had read that on twitter a few days ago 5.5 million addresses has interacted with DeFi products unfortunately I couldn't find the soruce again (here is an other blogpost from April 2022 as a source for this data). According to my estimations this means only 500k people has experienced DeFi products. On the other hand Coinbase has 110M+ KYC'ed users, Lets jump the second tab and see some metrics about Base Goerli Testnet activity.

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    On this tab we will see Optimism-specific metrics before and after the announcement of Base. On the second tab, we will see Base Testnet metrics. I have shared metrics such as 'Token Mints', Deposits from L1, and Contract Creations. I have done this by decoding raw tables. For more details about the information behind the chart, you may check the methodology section on the last ta

    And in the 3rd tab we will see metrics that cover both platforms, such as addresses that used Base first and then Optimism, in order to understand the user traffic between them