What is Optimism Bridge?

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Thus, transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. Moreover, to doing so provides some benefits as can be lower transaction fees, gigher trhoughput, better user experience and sometimes access to dapps not on Mainnet.

As it has been mentioned before let's try to define what is a layer 2 network. Layer 2 networks (also referred to as bridging solutions) were created to overcome these obstacles and have been effective to sustain growth of the Ethereum ecosystem in spite of barriers like gas fees for example.

Furthermore, there are several bridges that can be used for tokens movement to Optimism. Nevertheless, this article is focused on Optimism bridge, as it allows to trasnfer assets directly from L1 to Optimism.

Therefore, below sections will show how many distinct wallets have deposited or withdrawn ETH to Optimism via optimism bridge during the last 60 days.

Approach and methodology

As it has been commented before, it is necessary to analyse the number of wallets that have deposited etherum to optimism and on the other hand the wallets that have withdrawn. To do so, a first approach has been done through understanding the metrics and tables provided in order to obtain the expected results through extracting the essential information. Thus, different results can be observed and conclusions can be reached.

So, the undertaken methodology to provide a solution to the questions asked has been the following:

• Number of wallets that have deposited ethereum to optimism (daily) obtantion and its cumulative value
• Number of wallets that have withdrawn (daily) obtantion and its cumulative value
• Analysis and conclusions from the values obtained on previous sections

Wallets deposited to optimism

Below chart shows the number of users that have moved the wallet from ethereum to Optimism thorugh optimism bridge on a daily basis and also the cumulative value to observe if the deposition increases, maintains the gorwth or if decreases during time.

Wallets withdrawn from optimism

On another hand, some wallets withdrawn from optimism through optimism bridge on a daily basis. When assets are transferred to a centralized exchange, them are sent to an address provided by that centralized exchange. By default, this is an Ethereum mainnet address and the exchange does not look at this address in Optimism. As a result, assets transferred directly to a centralized exchange that doesn't support Optimism are irrevocably lost, unless the exchange can help you.

There are two ways to withdraw assets from Optimism:

• The Optimism Gateway. We have a list of supported ERC-20 tokens, but you are not limited to them, you can select any token that exists on both Ethereum mainnet and Optimism mainnet.

• Third-party bridges. Those bridges are usually cheaper and faster than our main gateway, but have a more limited list of supported tokens. When the bridge gets low on the asset in the Ethereum mainnet, it sends all of those tokens from Optimism to Ethereum in one gateway transaction. This way: The way this works is that the bridge loans you the relevant asset on the Ethereum mainnet.

Thus, below chart shows the withdraw assets from optimism through Optimism Gateway as it uses the optimism bridge to arrange it. It is shown on a daily basis (bars) with the cumulative value included (line).

Analysis and conclusions

First, analyzing the wallets deposited on optimism chart it can be observed by looking at the cumulative line that at there are different growing phases. At first sight it can be observed that April's slope is higher than May and June slopes. It can be also observed that there is a pick at the end of May / start of June and after that pick the growing stabilizes again but slower growth than during may as the slope is worst. That is to say that during this month of june the number of wallets deposited to optimism have been decreased compared with may (on a daily basis average) on time.

Secondly, it can be observed the second chart regarding to wallets withdrawn where it shows a line of cumulative wallets with a continuous slope until the start of june, where a peak appears. This means the opposite than the first chart, as the daily number of wallets withdrawn have been increasing on time.

Nevertheless, if both charts are compared it can be said that there are a higher number of wallets that are depositing into Optimism rather than withdrawing, as the magnitude of both charts is completely different. On the first chart the cumulative number of wallets is arriving to 30k while on the second one the cumulative arrives to an approximate value of 0.5k, demonstrating that there is a higher volume of depositing transactions than withdrawing. Moreover, if it is observed june numbers where are the depositing users are decreasing and the withdrawing increasing on time, it can be observed that even that situation there are more users depositing than withdrawing, which confirms that the magnitude of depositing transactions is 60 times higher (on average) than the withdrawing transactions.