Observations (contd.):

• Wallets that originated on Optimism and then interacted with ETH mainnet seem to have a reasonable low number.

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• One would expect the majority of wallets to be the ones that have mainnet origins…But this is not the case! 🧐

Let’s dig into these anomalous Optimism only wallets

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I. New Users/Wallets & Their First Transactions

• We take a glance at the new Users/Wallets making their first ever outbound transactions from the wallet.

• We also take the comparisons a bit further by breaking down wallets based on their initiation/origin with respect to the ETH network.

Methodology:

• We use flipside crypto’s fact_transactions table from Optimism/ETH dbs.
• Further, we use the nonce field to deduce the wallet’s first outbound transactions.
• Depending on whether the wallet has been active on both networks and which network was interacted with first, we arrive at the grouping/categorizations.

Observations:

• Huge spikes seen leading up to June 27th as well as July 27th…
• There are quite a huge number of wallets that are native to Optimism Only!

Dashboard Objectives

• The dashboard focuses on the new Users that made their first transactions on Optimism in recent months.
• Timerange: 15th June to 31st August 2022
• Sections:

  • New Users/Wallets & Their First Transactions

  • Analyzing Origins of Optimism only Wallets

  • Chain of Choice of Wallets Using Both Chains

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Author:

• Twitter: @lelaughingman
• Flipside Bounty Hunter: TheLaughingMan
• Discord: TheLaughingMan#3062

III. Chain of Choice of Wallets Using Both Chains

• We break down the wallets further into groups based on their Optimism Preference

Methodology:

• We take only the wallets that have had:

  • 5 or more total transactions

• We then compute their Optimism Preference threshold as:

  round(arb_counts/(total_txns) * 100, 2) = arb_pref

Observations:

• It seems that the majority prefers using Optimism!
• Only a minority seems to prefer using just the mainnet.

II. Analyzing Origins of Optimism only Wallets

• We track down the initial ETH transfers into these wallets and see where those came from.
• Interestingly, the majority of these wallets seem to be Alternate/Extra wallets of already Existing Users.

NOTE:

• Given the data is not entirely backfilled, we are missing origin mapping for quite a few of the Optimism-only wallets!
• Lack of proper labeling leads to a high untagged count.