Overview

Optimism is a low-cost and extremely fast Ethereum L2 blockchain. Optimism is a new digital democratic governance model optimized to drive rapid and continuous growth of a decentralized ecosystem. Swaps can be performed on Optimism via DEX. The most common DEX available on Optimism are Velodrome Finance as well as Uniswap.

As said before, Optimism protocol is a Layer2 protocol that aims to help Ethereum users speed up and pay less fees for transactions on the Ethereum network. To achieve this, Optimism works on the basis of a technology known as "Optimistic Rollups".

This is a scalability technology of the "rollups" type, which encapsulates a large number of Ethereum transactions and synthesises them into a single transaction that is then stored on the blockchain. In this way, the Optimism protocol can take hundreds of transactions and reduce them to a single transaction, increasing the scalability of the network while maintaining security.

Optimistic Rollups (ORs) are a very special type of operation on blockchain. It allows us to use advanced cryptography to group tens or hundreds of operations into a single one. In this way, we can increase the processing capacity of the blockchain, and at the same time, maintain the ability to verify the operations performed by simply verifying the synthesising operation.

This dashboard analyzes Optimism during the past week as markets were get turbulent, showing several important statistical metrics to evaluate the impact on the network.

GLOBAL TRANSACTIONS METRICS OVER THE PAST WEEK

Looking at the number of active users and total daily transactions they do, we can see how it has been decreasing over time. Since some of positive numbers over the first days of the week, the numbers were decreasing over the past days. The daily fees remained stable over all the days except on November 8th, when both the total daily fees and the average transaction fees increased considerably, coinciding with a bad crypto day preceeded by the Alameda FTX announcement. Another bad new was the increase of the percentage of failed transactions during the past 2 days.

PAST WEEK TRANSACTIONS AND PERCENTAGE GROWTH AGAINST PREVIOUS WEEK

Regarding at the number of active swappers and total daily swaps they do, we can see how how in this case, the activity has been decreasing over time since the beginning. The daily swapped fees remained stable over all the days except on November 8th, when both the total daily fees and the average transaction fees increased considerably, coinciding with a bad crypto day preceeded by the Alameda FTX announcement.

PAST WEEK SWAPS AND PERCENTAGE GROWTH AGAINST PREVIOUS WEEK

Looking at the number of active transferers and total daily transfers they do, we can see how it has been decreasing over time. The daily number of transferes has been decreased from 22k to 18k while the amount of transfers decreased from 180 to 130k. However, during Novemebr 8th, the amount of transfers increased cosniderably. The daily fees remained stable over all the days except on November 5th and 8th, when both the total daily fees and the average transaction fees increased considerably.

PAST WEEK TRANSFERS AND PERCENTAGE GROWTH AGAINST PREVIOUS WEEK

GLOBAL SWAPS METRICS OVER THE PAST WEEK

GLOBAL TRANSFERS METRICS OVER THE PAST WEEK

General conclusions

As it can be seen in all of the computed statistics, the bear turbulent market conditions over the past week has been reflected on Optimistic network increasing almost 150% in the major of its main metrics like number of transfers, number of swaps and number of transactions. It is clear that in this case, th negative sentiment impact directly on the activity on the network.

Key insights:

• Looking at the number of active users and total daily transactions they do, we can see how it has been decreasing over time. Since some of positive numbers over the first days of the week, the numbers were decreasing over the past days. The daily fees remained stable over all the days except on November 8th, when both the total daily fees and the average transaction fees increased considerably, coinciding with a bad crypto day preceeded by the Alameda FTX announcement. Another bad new was the increase of the percentage of failed transactions during the past 2 days.
• Regarding at the number of active swappers and total daily swaps they do, we can see how how in this case, the activity has been decreasing over time since the beginning. The daily swapped fees remained stable over all the days except on November 8th, when both the total daily fees and the average transaction fees increased considerably, coinciding with a bad crypto day preceeded by the Alameda FTX announcement.
• Looking at the number of active transferers and total daily transfers they do, we can see how it has been decreasing over time. The daily number of transferes has been decreased from 22k to 18k while the amount of transfers decreased from 180 to 130k. However, during Novemebr 8th, the amount of transfers increased cosniderably. The daily fees remained stable over all the days except on November 5th and 8th, when both the total daily fees and the average transaction fees increased considerably.