Op Airdrop

Introduction

In this analysis, You will read about the native token of optimism, the OP token. We want to know how Optimism airdropped their token to their users and what users did after claiming the Op token. In this analysis, I analyzed these parameters:
Total and Daily Claimers
Total and Daily OP Amount
Total and Daily OP Volume in USD
Delegated Voting power
Top Delegated wallets
Swaps after claim OP token
Top Swapped tokens from OP token based on transactions and volume

Analyzed By Hess - Reading Time Almost 8 Min.

Method

I looked up some claim transactions on Optimism scan. I found the Contract address that distributed the OP token which is 0xfedfaf1a10335448b7fa0268f56d2b44dbd357de. I used my findings in the Token transfer table and put distribute address as from address and op token which is 0x4200000000000000000000000000000000000042 as the contract address. In the end, I filtered Claimed action by 0x2e7ba6ef origin_function_signature.
For Delegating voting power, I found its origin_function_signature which is 0x5c19a95c.

Most Users claimed their Op token in the first 5 days after the announcement.
About 120M OP tokens were claimed by users only in two days.
Nearly 150K unique wallets claimed their OP Airdrop. The total Volume of OP Airdrop which is claimed by users worth 230M US dollars.
The large group of users were eligible for 100-1K OP tokens.
88% of users have sold their OP tokens. Only 12% of them are still holders.
106K Unique Wallets delegated their voting power to another wallet.
Most Users delegated their voting power to Quixotic.
Based on Total transactions, Users swapped their OP tokens to USDC.
Based on total OP amounts, Users swapped their tokens to USDC.
Almost many users swapped their tokens right after claiming the Airdrop.

Full Analysis:

Dropping Token Price after claiming Airdrop is normal. As you can see, The OP prices dropped from 1.7 to 0.5 only in three days. Because a large group of users swap their Airdrop tokens right after claiming it. But In Long Term, They Price will recover itself. The Op Price increased After 1 month when Users Claimed their tokens. Right now, The Op price is almost 1%. It means 100% higher than three months ago.
Voting Power is very important to Projects But voting is a real job. Users can delegate their power to others that have the ability to vote properly. So as you read, About 106K of Users ( 60%) delegated their powers to others.

ALL CODES AND CONTENTS WERE WRITTEN BY HESS

:writing_hand: Twitter: @hessaminanloo

:t-rex: Discord: hess#0890

:calendar: Analyze Date: 2022/SEP/29