📜 Introduction

• 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 are we doing here ?

in this section we are going to analyze Optimism user's portfolio, common actions and platforms that users are using in Optimism ecosystem using their $OP tokens

📌Methodology

in this part to analyze our data we are going to use these tables for our adventure :

• optimism.core.dim_labels
• optimism.core.fact_event_logs

1. We are going to take a look at average Optimism user’s portfolio so we use fact_event_logs for this purpose and also we want categorize the transactions into Dapp , NFTs , Contracts … so we’ll use dim_label for that purpose
2. also, the label of some destinations which were not listed on the labels’ tables was extracted manually from on-web data or optimism explorer, for this case I had to use flipside_prod_db.crosschain.address_labels to fill the null labels in the main data table
3. in this section we are analyze all data since January 2022

• According to the data, most number of Optimism users have interacted with OP token contract

• the highest total activity has achieved during June 2022

• On the next ranks, we have some interactions with different tokens on Hop protocol with total value of 570K USD

• Also, we can see Uniswap program on 3rd place with total value of 215K swap Value

• if we take a look on Monthly chart we can realize that overtime, we can see almost increasing trend of Optimism users activity with different protocols and Dapps on this network

• On the left side, I have calculated the interaction of users with their OP Token and charted the top 10 destinations.

• we can see most volume of OP was interacted with OP token contract which can be related to transferring , delegating and other stuff with this token.

• Also, we can mostly see swap routers among the top destination of users with their OP token which shows the will of OP holders to swap this token

  \

top Protocol & Contract by User

Compare Protocol Types

The donut chart show the share of each protocol type in user activity when using their $OP token , according to this chart we can realize that :

• Almost 30% of user transactions are related to Layer2 activities such as Bridging related actions.
• 57% of user transactions are related to DEX activities such as swapping.
• Also as if we look more closely a very small portion, about 3.3% of user transactions are related to NFTs and 5.32% related to the DeFi
• According to the second chart, it can be seen on the Jun the ecosystem experience massive amount of transaction compare its past month
• at Jun 2022 600k transaction has been submitted on the ecosystem it’s 6 times bigger than its past month

If we take a closer look into Jun 2022 threw Weekly chart we can realize that these amount of transaction has been submitted on the first week of Jun

• The main reason of this spike because of the $OP token Airdrop happed on the first week of Jun
• On airdrop week (June 1st) Optimism Operators gained significant portion, and DEX activities started getting momentum
• according to the metrics Over time L2 activities (such as bridging) decreased and DEX and DEFI activities share increased.

Categorized Actions

• Based on the above charts, if we ignore Other Activities most activity of Optimism users is in Swap with 416K transaction
• after that Bridiging and NFT related has most transactions with total amount of 670K Transaction
• According to the weekly chart , we can see increasing trend of activity on Optimism NFTs and also Swaps on Optimism.
• The total trend of the chart is clearly increasing over time.
• Moreover, most number of Delegate activity was achieved during the First month of $OP token release (June).
• Farming and Yielding and also Staking activity on Optimism is also increasing over time.

Conclusion

🤔 Questions?!

• Show top protocols on ecosystem by transactions & user ?
• Show popular Contract that interacted by user ?
• Compare Protocol types over time ?
• Categorizes Protocol and analyze trend over time ?

• Almost half of user transactions are related to DEX activities since January 2022

• Growth in DEFI and DEX protocols and decline in Operator and Bridge protocols can mean that users keeping their found on Optimism and trusting its infrastructures.

• According to the above charts, an average Optimism user mostly interact with Swap programs (such as Uniswap, 1inch, Velodrome, 0x and …)

• In second rank Bridging activity, NFT ecosystem (mainly Quix platform and its top collection, Optimistic Explorer) and also Delegate and Stake actions

• Most activity of users with their $OP token were done on June 2022 (the first month of OP token release) specially on the first week

• Also On the airdrop week Uniswap has high number of transactions, probably users swapping their airdropped tokens

• Hope you enjoyed 🖤

  \

  ✍️Contact Info!

  Discord : zhizhi1348#7806

  Twitter : @zhiyarrr1