Project : Optimism

Bounty Name : $OP Airdrop

Question: Earlier this summer, Optimism offered an airdrop to users. Let’s examine the airdrop after a few months.

How many users claimed optimism airdrop? How much of total airdrop was claimed? How many wallets are still holding tokens from airdrop? How much of users delegated their OPs? 

Feel free to provide any information that you think is related to token price. 

Date of analysis : 2022-09-29

Optimism

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. It’s like driving in a less crowded side street while benefiting from the security of a highway. source

What is a crypto airdrop?

A crypto airdrop is a method by which you can earn free crypto from a crypto project. There are several ways to receive these tokens. Many times an airdrop is associated with free cryptocurrencies, but this is not necessarily true. You have to put in time and effort or you may have to deal with transaction fees. However, it is also possible to participate in an airdrop for free! source

Methods

Tables I used:

optimism.core.fact_hourly_token_prices 

optimism.core.fact_event_logs

 optimism.core.fact_token_transfers

optimism.core.fact_delegations

Op Contract address: '0x4200000000000000000000000000000000000042'

Op AirDrop address: '0xfedfaf1a10335448b7fa0268f56d2b44dbd357de'

Metrics

• Op Price
• Amount Op Airdrop Claimed Percentage
• Percentage of Users that claim
• Total Amount of Op Claimed
• Total users that Claimed their Airdop
• Daily Amount Op Claimed
• Daily Number of Users that Claimed their Airdrop
• Total Number of Users that delegate Op or Not
• Number Of Users Delegated
• Amount of Op Delegated
• Distribution Amount of Op Delegated
• Delegators Type
• Amount of Op Delegate per type
• Users First Actions after Claim

Claim Status

The first thing that is very clear is the decrease in the number of OPs that have been claimed, because the main and loyal users of Optimism claimed their tokens at the very beginning, and as you probably noticed, in the early days when the OPI token was claimable, its price was around its value. It lost because there were users who preferred to sell their token. Nearly 250,000 users of the Optimism network were eligible to receive airdrops, but 149,000 of them applied, which is about 60% of eligible users. Nearly 75% of the users who claimed their AirDrop in the first two days, i.e. May 31 and June 1, claimed their AirDrop, and the remaining 25% of users claimed from the third day until now. The total number of OPs that were supposed to be airdropped was 215 million, of which nearly 159 million OP tokens have been claimed by users, which means that 74% of the tokens have been claimed and 36% of them have not been claimed after the last 3 months.

Nearly 80% of Op tokens were claimed by users in the first two days , and the claim trend is still continuing even though it has decreased.

Users Actions

Most of the transactions are after claim is Transfer, that is, about 41% of the first transactions of users are after claim is Transfer, and in second place is Swap, which has allocated 1.85 million transactions of the second place to itself.

The third place is for Approve, which is nearly 1.1 million transactions for Approve, which has allocated about 15% of the transactions to itself.

Thanks for reading

• All data used are from: Flipside Crypto

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• My Twitter: Sepehrmhz8

Conclusion

The trend of airdrop clinching is decreasing day by day and this is normal because only 26% of tokens have not been clinched yet, which are being clinched with the current trend, although slowly, and the most important thing is that a large part of the tokens were claimed, but the Op price did not fall much, and this shows how respectable and reliable the Optimism network is for users.

Delegate or Not?

About 95 thousand users or 63% of the users who claimed their airdrop preferred to delegate part or all of their tokens, and on the other hand, about 54 thousand users did not delegate their tokens after claiming. The highest amount of delegation was for the first two days of claim Airdrop, so that more than 70 million token ops were delegated by about 61 thousand users in the first two days.

Delegated proof of stake works similarly to proof of stake (PoS) except it involves a voting and delegation mechanism to incentivize users to secure the network with their staked collateral. 

Amount & Type of Delegate

Most of the users delegated between 200 and 500 of their Ops, and the total number of delegated Ops in this group is 56 million, which has allocated about 35% of the delegated tokens. Nearly 8% of delegated tokens are more than 10,000, that is, users who had more than 10k tokens preferred to delegate their tokens, which shows that even users who have a lot of tokens started to delegate.

About 92,000 users delegated for the first time, which is nearly 72% of users, and on the other hand, nearly 10% of users, or in other words, 13,000 users, delegated for the first time, and this delegation was for themselves, nearly 13 The percentage of users had Redelegate.

A total of 99 million tokens were collected for users who delegated for the first time, which is nearly 65% of the delegated tokens, and 16% of the tokens were for users who Redelegated , which is 24 million. The point is that the majority of those who delegate prefer to delegate to others because the number of those who delegate to themselves is much less than them.