📜 Introduction

What is 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.
• Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises .
• Optimism is the second-largest Ethereum layer 2 with a total of $1.02 billion TVL(total value locked) into its smart contracts
• As of this writing , there are 74 protocols on Optimism with at least $1,000 locked into their smart contracts

What is Rocket Pool ?

• RocketPool is a decentralized ETH2 Staking application. Until now, using RocketPool, users can either stake ETH or stake ETH and run a node. Users deposit ETH and mint rETH tokens. For users only interested in staking, the minimum deposit is 0.01 ETH and the rETH tokens are liquid. For users interested in running a node and staking, the minimum deposit is 16 ETH, but better rewards are received.

• Recently, RocketPool was launched on Optimism thanks to Beethoveen X, a platform that  brings all the goodness of the proven Balancer V2 protocol and it aims to be a one-stop decentralized investment platform on Fantom. The new pool is called Rocket Fuel Pool where Optimism users are able to stake their ETH to be converted in rETH. All the information is available on the recent tweet designed by the own Optimism social media channel. The main things explained are that WETH and rETH pool is live on Beethoven X and that the first tranche of planned rewards is available.

📌Methodology

To be able to do a good analysis, we will take a look at the daily number of different metrics and we will analyze the pool in a deep manner. In this case, two main approaches have been done

I have calculated the staking vs unstaking metrics to be able to see the performance of the pool. In this case the metrics analyzed are:

• Staking and staking actions over time
• Cumulative net staking actions (staking-unstaking)
• Users staking and unstaking over time´
• Cumulative net users staking (staking-unstaking)
• ETH staked and unstaked over time
• Cumulative net ETH staked (staked-unstaked)

Queries Analyzing

• In the first two graphs we can see that they have practically the same trend. The net pool depositors and deposits have been analysed. In both cases we see that there are more depositors and deposits than withdrawers and withdrawals. The difference was even clearer on the 1st and 2nd of September. After that the number of deposits and depositors decreased.

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• In the third graph we have analysed the net rETH deposited. We can see that on 1 September ETH deposited was heavily dominant. During the 2nd and 3rd of September the ETH deposited increased considerably, as did the ETH removed. On the 4th and 5th the ETH deposited and removed dropped sharply, with approximately the same amounts. On days 6 and 7 they went up again but deposited ETH predominated. Finally, on the 8th of September, the ETH removed is predominant, as the deposited ETH has fallen again quite a lot.

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• In the last graph we can see the median deposits and withdrawals per user. We can clearly see that the median deposits are higher than the median withdrawals this week. The only day where deposits and withdrawals were equal was the 4th of September. Therefore, users deposit more than they withdraw.

• The first graph shows the total rETH deposited and removed. We can see that in both cases they have a fairly stable and slowly increasing trend. It also shows how the total ETH deposited is higher than removed.

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• Finally, we see that during the whole week the LTV has increased, reaching, on the 7th, a peak of approximately 1,132. However, from that same day, it went down again, reaching approximately 942.

• Therefore, we see that a lot of ETH has come in and little has gone out. This is a very good sign.

Here are displayed the fees generated by the pool.

In the first two graphs we can see the fees that users have paid during September. We can see that the ETH fees remain stable, with low amounts. However, on the 6th of September there was a heavy peak, reaching . After that, the fees returned to the initial amounts. The minimum and maximum fees paid each month have little difference from one month to the other. They are very stable in both cases.

In the graph on the left we can see that there is no correlation between transactions and fees.

Conclusion

Key insights

• Net pool depositors and deposits have the same trend.

• There are more depositors and deposits than withdrawerss and withdrawalss.

• During this week, ETH was not stable on the net rETH deposited. Today,

  ETH removed is more predominant than ETH deposited.

• Users deposit more than they withdraw.

• the total rETH deposited and removed have a fairly stable and slowly increasing trend.

• The total ETH deposited is higher than removed.

• During the whole week the LTV has increased. A lot of ETH has come in and little has gone out.

• The ETH fees remain stable, with a heavy peak on 6th of September.

• There is no correlation between transactions and fees

• Hope you Enjoyed 🖤

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  ✍️Contact Info!

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