Introduction

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 a scaling solution for Ethereum that can support all of Ethereum's Dapps. Instead of running all computation and data on the Ethereum network, Optimism puts all transaction data on-chain and runs computation off-chain, increasing Ethereum's transactions per second and decreasing transaction fees.

Optimism (OP) is the native token of Optimism, OP has a total supply of 4.294 billion. The OP token gives holders participation rights in The Optimism Collective, a two-tier governance system composed of Token House and Citizens’ House. Citizens’ House will come live later in 2022. Token House, which is already active, governs technical decisions related to Optimism, such as software upgrades. The Citizens’ House governs public-goods funding decisions. In its early days, Optimism itself raised funds on Gitcoin, a major public-goods funding platform.

Methodology

In this dashboard, We are going to take a look at an average Optimism user’s portfolio. for this purpose, we are going to check interactions with different DApps, programs, contracts and etc.

So, the main table that we are going to use for this bounty is optimism.core.fact_event_logs and for extracting the destination labels, we are going to use optimism.core.dim_labels and flipside_prod_db.crosschain.address_labels tables. also, the label of some destinations which were not listed on the labels’ tables was extracted manually from on-web data or optimism explorer.

Based on the above data, most number of Optimism users have interacted with OP token and their highest activity has achieved during June 2022. On the next ranks, we have some interactions with different tokens on Hop protocol.

Also, we can see some swap programs such as Uniswap on the top list. Totally overtime, we can see almost increasing trend of Optimism users activity with different protocols and Dapps on this network.

Uniswap is top cryptocurrency decentralized exchange that uses a decentralized network protocol. Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.

Hop protocol is a mechanism for transferring tokens over a shared layer 1 network quickly and without trust. It provides customers with a two-pronged token bridge for Ethereum's layer 2 network. The solution aims to facilitate the rapid movement of a token between layer 2 and a scaling solution's governance token

Socket is an interoperability protocol for secure & efficient data and asset transfers across chains. Socket is not a bridge, or a cross chain app - it is an infrastructure that allows developers to build these things easily. Developers can use Socket to build apps with interoperability as a core part of app infrastructure.

Every approach to interoperability optimizes for different objectives & trade offs (trust, latency, generalizability etc.). No one approach is best for every type of use case. Our goal is to empower developers to optimize for their use case & objectives

RabbitHole is an app that rewards you for performing specific tasks on various crypto protocols and dApps. Using RabbitHole is a great way to get acquainted with the crypto space—all whilst earning some project tokens in the process

Optimistic Explorer is An Optimism exclusive NFT collection for those adventurers on the digital frontier. Each NFT represents 1 of 5 buildings in the city of Optimism which corresponds to a selected interest. As of today, there is a total of 164678 NFTs minted, held by 140934 unique owners, and has a total market cap of $21,902.92.

In terms of number of transactions, we can see General Contract of Perpetual Protocol by far on the first rank here.

> Perpetual protocol, formerly known as Strike, was created in 2019 inspired by emerging DeFi protocols such as Synthetix and Uniswap. The team sought to combine the merits of these protocols to create a decentralized perpetual contract trading protocol on Ethereum. The protocol is capable of supporting 10x leverage, short positions, and lower slippage compared to other AMMs thanks to its virtual AMM (vAMM) design. Unlike well known Automated Market Makers used for both token swaps and price discovery, the vAMM is solely used for price discovery to handle leverage and short positions. Similar to Uniswap, traders can trade with the vAMM without central authorities and is designed to be market neutral and fully collateralized. PERP is the protocol’s ERC-20 native token. PERP tokens allow community members to govern the protocol and stake their tokens for a fixed amount of time to the Staking Pool. In return, holders are rewarded with the staking incentive, which includes rewards in PERP and transaction fees.

the contract that users have interacted the most with is “Smart Contract - ClearingHouse”.

On the next ranks, we can mainly see swap programs such as Velodrome and Uniswap and also Hop Protocol activity.

Velodrome is an AMM designed as the central trading and liquidity marketplace on Optimism Network. It is the next evolution of theSolidly Exchange model introduced by Andrew Cronje.

Uniswap V3 NFT Positions: On Uniswap v3, liquidity provider (LP) positions are represented as NFTs (ERC-721 tokens) as opposed to the fungible ERC-20 tokens on Uniswap V1 and V2. Based on the pool and your parameters selected on the liquidity providing interface a unique NFT will be minted representing your position in that specific pool.

On the above, I have calculated the interaction of users with their OP Token (0x4200000000000000000000000000000000000042) and charted the top 10 destinations.

Since OP token was released on June, we can see highest activity of users with OP tokens during this month.

Moreover, we can see most volume of OP was interacted with OP token contract which can be related to transfering, 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.

The volume of interaction of OP token with these protocols has decreased over time despite number of users and number of transactions which we have seen were increasing over time.

0x is a peer-to-peer exchange of Ethereum-based tokens. It is often referred to as a decentralized exchange. 0x uses common smart contracts over a shared infrastructure. Its technology combines two strategies—state channels and automated market markers (AMMs)—that have already been suggested to overcome these problems.

1inch is an exchange aggregator that scans decentralized exchanges to find the lowest cryptocurrency prices for traders, and is powered by its 1INCH utility and governance token. 1INCH is used to furnish the platform's decentralized "instant governance" model, and facilitates liquidity mining through token staking.

Categorized Actions

On below, I have categorized the destination of OP into 9 types and have checked the activity and interaction of Optimism users with them (total and over time).

Based on the above charts, most activity of Optimism users is in Swap, Bridiging and NFT related stuff.

Over-time, 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 release (June).

Farming and Yielding and also Staking activity on Optimism is also increasing over time.

On the above charts, we can see the average volume of transactions with OP on Swap programs is way more than all other action types. So, it seems Swap activity is the most popular action of OP users.

Despite high number of NFT activity (based on the previous chart) on Optimism, we can see the average volume of this type of action is quite low.

Conclusion

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

Volume of top actions with OP token is decreasing over time but the users activity and interaction with different top programs in this ecosystem is increasing.

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