Report preparation date: 9/9/2022

Briefly about Optimism :

Optimism is a Ethereum Layer 2 network like Polygon, Arbitrum and ZkSync.Layer 1 network is a blockchain in the decentralised ecosystem, whereas a Layer 2 protocol is a third-party integration that may be used in conjunction with a Layer 1 blockchain.Users can bridge their ETH and ERC20 assets to Optimism using bridges such as the Optimism native bridge, Hop Protocol, Across and so on.Open source, secure, permissionless, and decentralized.That’s what a blockchain needs to survive. Very few of them check all these boxes. Ethereum is one of them. A strong foundation determines the long-term success of any endeavor. Join a thriving digital metropolis of decentralized applications that’s here to stay... The L2 with the best UX and DevX, hands down. Optimism addresses the practical needs of developers and users. It works great now, and it's only getting better.

As you can see in the chart below, we have analyzed the number of active users and the number of transactions.The number of active users on Ethereum averages around 200k per day and 1.4 million per week, while the number of active users on Optimism as of June 15, 2022 averages around 10k or 0.07 million per week. On most days/weeks, the number of daily users on Ethereum is about 20 times higher than the number of daily users on Optimism. This is appropriate, as Optimism is still in its infancy and development, it needs more time to mature. On the other hand, Ethereum's daily transaction volume is only about 5 times that of Optimism. This means that the average number of transactions per wallet is higher on Optimism.

As you can see in the chart below, the volume of transactions and exchanges in Ethereum and optimism (in dollars), we have examined the volume of USDC transactions in Ethereum versus optimism. The y-axis is in the entry due to the large difference between the daily trading volume of USDC in Ethereum vs. Optimism. Daily USDC trading volume on Ethereum averages around $7 billion (around $50 billion per week), while daily USDC trading volume on Optimism averages around $150 million USDC (around $1 billion per week).Compared to Ethereum, USDC transaction volume on Optimism is very low (50x difference). This shows that Ethereum currently has much more transaction activity than Optimism.

As you can see in the chart below, it shows the exchange volume of USDC in Ethereum and Optimism (to USDC). The y-axis is in log due to the large difference between the daily trading volume of USDC in Ethereum vs. Optimism.It has been observed that USDC trading volume on Ethereum averages around 2.5-5 billion USDC per day (~20 billion per week), while USDC trading volume on Optimism on most days (~$350 million per week) is around 50 million US dollars. This shows that the daily trading volume of USDC on Ethereum is almost 100 times higher than that of Optimism.

Wallets Transacting USDC and USDC Swappers on Ethereum and Optimism . As you can see in the graphs below, we have looked at the number of wallets that trade USDC on Ethereum vs. Optimism. We see that the average number of wallets transacting USDC per day on Ethereum is around 18k (~120k per week), while the average number of wallets transacting USDC per day on Optimism is around 2k ( ~14 thousand per week). USC has about 10x more wallets transacting Ethereum per day than Optimism. The difference between the number of wallet transactions on Ethereum and Optimism is not as large as the difference between the transaction volume on Ethereum and Optimism, indicating that Optimism wallets have smaller transaction sizes.

As you can see in the chart below, we have looked at the number of wallets trading USDC on Ethereum vs Optimism.In contrast, the number of USDC swappers per day on Ethereum and Optimism is around 4k swappers (~28k per week) and 1k swappers (~4k per week) respectively. This shows that Ethereum has almost 4x more daily/weekly USDC exchange than Optimism.

As you can see in the chart below, we have analyzed the average exchange size of USDC in Ethereum and Optimism (to USDC).The average Ethereum swap size is around 14.168K USD, while the average optimal swap size is around 2.18K USD. Ethereum has a much higher average swap size than Optimism. This is appropriate because Layer 2 solutions help scale applications by processing transactions outside of the Ethereum mainnet, resulting in lower transaction fees. Ethereum has a higher gas fee than Optimism, so swappers try to do their Ethereum swaps in one go to save on gas fees and make sure the swap is worth the gas fee paid.

As you can see in the chart below, we have analyzed the distribution of the average USDC exchange size of Ethereum and Optimism wallets.We can see that the average USDC trade size distribution of Ethereum wallets is more left-skewed compared to the average USDC trade size distribution of Optimism wallets. Most Optimism wallets that exchanged USDC had an average swap size of 0-100 USDC, which is in the fish category. Most Ethereum wallets fall into the shrimp category, with an average swap size of 100 to 1k USDC. Additionally, there are whales on Ethereum with average USDC trade sizes of over $1 million, but none on Optimism. This shows that due to Optimism's lower gas cost, Optimism wallets tend to trade even small amounts of USDC (< 100 USDC). This is not always possible in Ethereum, as wallets want to make large enough transactions to avoid losing gas fees.

Conclusion :

The number of active users, the number of transactions and the average transactions per wallet in Ethereum and Optimism show that on most days, the number of daily users of Ethereum is at least 20 times higher than the number of daily users of Optimism. Ethereum's daily transaction volume is only 5 times that of Optimism. The average number of transactions per wallet on Optimism is almost 3 times higher than on Ethereum. USDC trading volume on Optimism is still small. This shows that Ethereum still has much more transaction activity than Optimism right now. USDC exchange volume on Ethereum is almost 100 times higher than Optimism. The number of wallets that transact Ethereum daily with USC is about 10x more than Optimism right now. Ethereum has almost 4x more daily USDC exchanges than Optimism. Top Optimism Protocols by USDC Interactions. The average Ethereum exchange size is around 14.168K USD, while the average optimal swap size is around 2.18K USD. The success of optimism is the success of Ethereum The mission is that these layer 2 scaling solutions in Ethereum will help save Ethereum from high transaction fees and reduce network congestion. User behavior on Optimism is very different from Ethereum due to Optimism's lower transaction fees and its early growth stage. I personally believe in the potential of Ethereum's Layer 2 scaling solutions and am excited to see where Layer 2 scaling solutions like Optimism take Ethereum.