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.

OP Airdrop

The Optimism Foundation’s Airdrop #1 rewarded those who have been instrumental as early adopters and active users of projects in the Optimism ecosystem. The airdrop went to those who met a variety of criteria before March 25, 2022, including swapping tokens on Optimism’s blockchain and voting on governance proposals.

Optimism launched its OP token on May 31. A total of 248,699 addresses were eligible to claim 214,748,364.80 OP tokens (based on official Optimism docs) for free (known as an “airdrop”). That accounts for 5% of the total 4.29 billion supply, meaning 95% of the supply has yet to hit the market.

OP Token Address = 0x4200000000000000000000000000000000000042

Airdrop Distribution Contract: **0xfedfaf1a10335448b7fa0268f56d2b44dbd357de (0x2e7ba6ef is the origin function signature for claiming)

Considering the above data and using optimism.core.fact_event_logs table, we are going to do some analysis about $OP Airdrop.

As mentioned before, there were total 214,748,364.80 OP tokens (5% of total supply) allocated for the Airdrop to 248,699 unique users.

150474 users (60.5% of all eligible) have already claimed their OP airdrop. There are still 98,225 users (almost 39.5%) who have not claimed their OP.

159,616,725.79 OP tokens (74.3% of all allocated) are already claimed by these users. There are still 55,131,639.20 (almost 25%) unclaimed OP.

The average claimed OP by a user is 1061, the median amount is 777 and the maximum amount is 32,431.7 OPs

==So, most of users have already claimed their airdropped OP.==

According to the above charts, most number of eligible users have claimed their OP in the first days of airdrop event. Also, most volume have been claimed during the first days.

There are still few number of users who are claiming their airdropped OP till today and as mentioned before, there are still more remaining.

Based on the above charts, during the first days of airdrop, the average amount of claimed OP was more than all times and this amount is decreasing lightly over time.

So, we can conclude most of high allocated OP users have claimed their OP during first days.

The average daily number of claimers is 906 unique users and the average claimed OP volume in a day is 961,546.54 OP

Most number of users (more than half of all claimers) have claimed between 500 - 1000 OP and users who have claimed less than 500 OP are on the second rank of distribution.

There are few number of users (45 wallets) who have claimed more than 20,000 OP from this airdrop.

There are 45 users who have claimed the most amount of allocated OP (32.431 OP) and on the left chart we can see their address.

How many wallets are still holding tokens from airdrop?

For this part, I have extracted users who perform a transaction with their OP token after their claim date. So, these users are known as Non-Holders. The other users who are not listed among these Non-Holders, are known as Holders.

So, Based on the above data, There are only 3054 users (~2% of all claimers) who are still holding their claimed OP token and almost 98% of them (147,420 users) have not hold their OP token.

The left chart shows us the top 10 contracts that OP claimers have interacted with them after claiming their OP.

Optimism: Op Token contract address is the top leading one and this can be also because of delegating this token.

There are also some other destinations such as Uniswap, 1Inch Exchange, Clipper Exchange, 0x DEX and Veldorromce Exchange on this list and this means these claimers were going to swap out their claimed OP token via these exchanges.

With using optimism.core.fact_delegations table I have extracted number of users who have delegated their claimed OP after the claim date and here is the result:

102,698 unique users of 148,954 total claimers (68.2% of total claimers) have delegated their OP token which is a interesting result !

Summary and Conclusion:

• There were total 214,748,364.80 OP tokens (5% of total supply) allocated for the Airdrop to 248,699 unique users.
• 150,474 users (60.5% of all eligible) have already claimed their OP airdrop. There are still 98,225 users (almost 39.5%) who have not claimed their OP.
• 159.616.725.79 OP tokens (74.3% of all allocated) are already claimed by these users. There are still 55,131,639.20 (almost 26%) unclaimed OP.
• The average claimed OP by a user is 906.46, the median amount is 776.86 and the maximum amount is 32,431.79.
• Considering the above facts, most number of users especially those who were eligible for claiming high volume of OP, have already claimed their OP.
• Most number of eligible users have claimed their OP during the first days of Airdrop and also the most volume of allocated OP was claimed during first days.
• Most number of users (more than half of all claimers) have claimed between 500 - 1000 OP.
• There are 45 users who have claimed the most amount of allocated OP (32.431 OP).
• There are only 3054 users (~2% of all claimers) who are still holding their claimed OP token (did not any transaction/transfer with their claimed OP)
• Most number of claimers (more than 68% of them) have delegated their OP token and they did this right after claiming their token.
• Exchange destinations such as Uniswap, 1inch, Velodrome, Clipper, and 0x are among the top destination of OP claimers and probably they tend to swap out (sell) their claimed OP in these platforms.
• OP price has reduced dramatically (more than 65%) during the first days after the airdrop event but did really satisfying on recovering its price the weeks after and experienced almost 400$ increasment in price during June - August 2022.

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On the above charts we can see OP Price and its correlation with ETH and BTC over time.

This token’s price shed 65.6% from its listing price of $4.57 shortly after its highly-anticipated airdrop (based on decrypto.co article)

But after few weeks, Its price has raised again and experienced almost 400% increase from 12 July - 4 August 2022.

This is an almost usual event after every token launch on the cryptocurrency market and usually users tend to sell their claimed token in order to make some profit from 0 investment ! (airdrop)

Also, the correlation of OP with ETH is more than BTC and we can see they have similar trends over time.

on the left chart, we can see most number of delegators have delegated their claimed OP during airdrop hype and right after claiming their token.

And on the left, we can see Lindaxie.ETH and after that, Quix NFT Marketplace are the 2 top pouplar destination of users to delegate to claimed OP token in them.

In terms of TX count we can also see OP token itself is the most popular destination OP claimers and on the next ranks Uniswap, Velodrome, 1inch and 0x Decentralized exchanges.

And based on the left chart, Transfer is by far the most emitted event by OP claimers with their OP.