Optimism Scavenger Hunt (May 25)

Welcome to Optimism!

Getting SNX on Polygon

Due to the high fees occuring when using the ETH network I went for the MATIC network instead and swapped myself some SNX for MATIC on Sushi.

Bridging to Optimism

After getting my hands on SNX I tried briding it to Optimism but I found out that the support for Polygon to Optimism bridging is very limited and briding of SNX is not supported. Therefore I bridged USDC and ETH (for fees) instead.

Getting SNX on Optimism

Now with funds available on Optimism it was time to get some SNX! As Optimism is EVM-Compatible (Uses the same bytecode as ETH) most DeFi services will support Optimism just fine. As Sushi hash high swap fees on Optimism I went for Uniswap and got myself some SNX.

Staking

Now finally having SNX where I want it it was time to stake!

Final thoughts

Compared to the simplicity and cheap fees provided by Polygon or other L2 scaling solutions Optimism just isn't a good alternative. Fees are at least 1000x higher than on Polygon easily wasting several $ just for the few transactions above. Additionally the ecosystem feels a lot less evolved than most other crypto platforms out there. It was a decent experience but I wont continue using it. Yet it definitely is a good rollup technology for cases where on-chain (L1) finality is of importance instead of primarily relying on a side chain.

Transfering more funds

As fees increased 5x since I did my first transaction on Optimism my funds ran out and I had nothing left to pay for the transaction fee for staking. It was time to transfer over more ETH.

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