Introduction

Optimism is one of the layer 2 scaling solutions. It's powered by a technology called Optimistic rollups, which bundle large amounts of transaction data into digestible batches. Optimism is much cheaper to use than Ethereum.

Top Sectors and Platforms

The following charts show the top sectors and platforms by number of user interaction.

• DEXs had almost 44.5% of the transactions. followed by L2 applications such as bridges.
• DEFI had almost 15% of all user interactions in Optimism ecosystem.
• Uniswap with more than 45% of all transactions, is by far most popular protocol on Optimism.
• Hop is the preferred bridge on Optimism, being on the second place with 22.6% of transactions.

By interacting with the legend of the last chart, we can understand that:

• DAAP sector didn’t grow much during July.
• DEFI had multiple moments of sharp increase in transaction count, and saw an small growth by the end of July.
• L2 protocols have grown by almost 2.5x during July.
• DEXs have seen the most growth over July.

Unique Wallets

By looking at the chart below, it can be seen that

• the number of daily active users have also increased during July, from around 5K to 63K, an whooping increase of 12 times.
• On the first few weeks the number of unique wallets didn’t change much.
• On the last week of July the number of active wallets didn’t diminish much and stayed high.

NFT

The following charts depict a footprint of user activities on NFT market during July.

It can be inferred that:

• Based on the number of transactions, It can be said that on the final week of July, the number of NFT sales has increased drastically.
• Volume also confirms increased activity by the end of July.
• Volume also shows that there is an increased volume right after market recovery from the quixotic hack.
• Top NFT collections can be seen in the last chart, Optipunk is the most selling collection during July.

Swapping

Swapping and exchanging between tokens is one the most important activity done on a blockchain network, the following charts depict the volume (in USD) and the top tokens swapped each day.

It can be seen that:

• Swapping volume has seen a drastic increase during July.
• The swapping volume has increased from a minimum of around $ 26M to a maximum of $ 359M, an increase of around 14 times!
• USDC with around 35.8% share, is the most swapped from and to token, followed by WETH and OP.
• ETH has only 5.3% of the swapping market share.

Actions and Events

The following tables show the top actions done by users on Optimism chain.

It can be seen that:

• more than 45% of the transaction are in Transfer category, this category is broad and may consist of many sub actions, as a very typical action for a financial system is to facilitate transfer funds between accounts.
• Swaps had a considerable chunk of transactions, almost 31%.
• The proportion of these actions remained almost constant in July.

Success Rate

The first chart shows the daily success rate of Optimism network, the second charts depicts the transaction success rate based on day of the week and the time on those specific days, similarly the last chart shows failure rates per day of week.

It can be seen that:

• The success rate has slightly decreased over time.
• On July 29, almost 14% of the transactions has failed.
• On most days, the success rate is higher before noon.

Transaction Per Minute

The following table shows the daily average TPM on Optimism during July.

It can be seen that:

• On the last week of July, TPM has increased significantly.

• The average TPM value has increased from around 50 to around 150, a roughly 3x increase.

Approach

Tables

In this study, the following tables are used:

optimism.core.fact_transactions → This table is used to acquire all the transactions, it is mainly used in order to find network usage information.

optimism.core.fact_event_logs → This table is used to access events related to each transaction.

optimism.core.ez_eth_transfers → This table is used to get ETH transfers.

optimism.core.fact_token_transfers → This table is used to acquire ERC20 token transfers.

optimism.core.fact_hourly_token_prices → This table is used to get hourly prices of ERC20 tokens.

optimism.core.ez_nft_sales → This table is used to find NFT sales on Optimism, currently it only supports Quixotic marketplace.

optimism.core.dim_labels → This table is used to find addresses based on their labels.

Methods

Actions studied in the Actions and Events section are 'Approval', 'Deposit', 'Transfer', 'Mint' and 'Swap'.

To access swap transactions, events with event_name = 'Swap' are extracted from event_logs table.

In the Bridge inflow and outflow section, we have tried to include all bridges available by using labels table.

Duration

The Bounty requires to analyze month of July.

Bridge

The following charts depict the bridge activities, as well as the top tokens sent to and from Optimism network.

We have already discussed and understood that most activities have grown in July, Bridge’s activities are no exception.

• During July, both token inflow and outflow has increased.
• ETH is by far the most bridged with over 80% share.
• After ETH, WETH is the most bridged in token, and, USDC is the most bridged out token.
• The net bridge volume is mostly negative during July, which means that money has flown out of Optimism ecosystem.
• On July 29, almost $4M has been bridged out of Optimism.

Contents

In this dashboard we are going to take a look at the some of the metrics related to Optimism network during July.

The following items are investigated:

• Transaction Per Minute
• Success Rate
  • Transaction Success Rate By Hour of Day (UTC)
  • Transaction Failure Rate By Hour of Day (UTC)
• Actions and Events
• Swapping
• NFT
  • Volume
  • No. of Sales
  • Top Collections
• Unique Wallets
• Top Sectors and Platforms
• Bridge
  • Inflow/Outflow
  • Net Flow

Summary

Let’s summarize our key findings in a few sentences:

• On the last week of July, TPM has increased significantly.
• The success rate has slightly decreased over time.
• On most days, the success rate is higher before noon.
• DEXs have seen the most growth over July, while DAAP sector didn’t grow much during July.
• The number of daily active users have also increased during July, although it has been stagnant for the first few weeks.
• The net bridge volume is mostly negative during July, which means that money has flown out of Optimism ecosystem.