EMV Smart Contract Deployment Snapshot

Smart Contracts in 2024

Ethereum’s  highly  anticipated  Dencun  upgrade  is  preparing  to cut  cost-friction  for  L2s  and  improve  scalability  next  week. Given the upgrade and shifting market momentum, we’ve taken a  snapshot  of  smart  contract  activity  to  understand  how developer and user activity has changed in recent years.

This  Smart  Contract  Deployment  Snapshot  includes deployments,  deployer  profiles,  and  contract  compositions across  the  leading  EVM  chains.  It  provides  a  detailed assessment  of  the  data  in  our  EVM  Developer  Snapshot Dashboard,  which  pulls  real-time  onchain  data  across  seven observed chains.

By  comparing  current  and  past  developer  activity,  our  findings are  intended  to  help  make  informed  projections  about  the industry’s  trajectory  as  we  pass  through  the  threshold  of  a newly-energized market.

Summary

A new era for L2s

The  diversification  in  smart  contract  deployments  across leading  EVM  chains,  coupled  with  a  surge  in  DeFi-related contracts  and  deployers,  signals  an  ongoing  market reorientation  towards  more  financially  innovative,  utility-driven blockchain  applications.  As  the  majority  of  EVM  contracts  are no  longer  deployed  directly  on  Ethereum,  we  expect  the forthcoming Dencun upgrade to further accelerate this trend as L2 solutions become more accessible and efficient.

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Trends at a glance

• 637.9M EVM smart contracts have been deployed since Jan 2022
• DeFi-related  contract  deployers  are  on  the  rise,  accounting for  34.7%  of  categorizable  deployers
• NFT-related  deployers decreased  from  18.6%  to  8.2%
• General-purpose  EVM  chains  are  coalescing  towards specific  use  cases,  contrary  to  design

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