Introduction

As of Today, Hop Exchange has been one of the most famous and most popular bridges in crypto. They are fast, secure, easy to work, and most importantly providing a product that market needs from the first glimpse of its existence; Meaning bridging from L1 to L2s and between L2s. Hop currently supports Ethereum, Optimism, Arbitrum, Polygon and Gnosis as chains and some basic assets to bridge between them.

Methodology

This is the first time that Hop exchange is collaborating with flipsideCrypo, So it is tricky to get to know how Hop works; It takes some time to render the best Analysis and this will surly improve as this collaboration reaches its fruitful state. For the sake of this starting bounty I am going to take a look at Hop distinct users, dividing them by the assets they are bridging and chains they are bridging to. Also a glimpse of Volume bridged to L2s in the past 6 months. I divided assets to two groups:

1. Non-StableCoins (ETH, WBTC, Matic)
2. StableCoins (USDC, USDT, DAI)

These are respective L1 bridge contract for Each asset:

• USDC: 0x3666f603Cc164936C1b87e207F36BEBa4AC5f18a

• USDT: 0x3E4a3a4796d16c0Cd582C382691998f7c06420B6

• DAI: 0x3d4Cc8A61c7528Fd86C55cfe061a78dCBA48EDd1

• ETH: 0xb8901acB165ed027E32754E0FFe830802919727f

• WBTC: 0xb98454270065A31D71Bf635F6F7Ee6A518dFb849

• Matic: 0x22B1Cbb8D98a01a3B71D034BB899775A76Eb1cc2

  I also used Event_logs Table to be able to distinguish between Chains and assets easily.
  

These are ChainID of respective chains on Hop:

• Optimism >> 10
• Polygon >> 137
• gnosis >> 100
• Arbitrum >> 42162

Data & Analysis

First of All, beginning with the most basic, and what question demands: Total Number of Hop exchange Distinct Users.

Now it's time to break these down into Chain-specific and Asset-specific stats; Starting from most popular L2 destination for Stable coins.

• Out of 4 available chains on Hop, Polygon seems to be the most popular in most weeks. Although it is obvious that their users are decreasing every week, but it does still hold the #1 weekly number of users since Dec 27th 2021. Even Optimism with recent OP launch couldn't claim Polygon's seat.
• Arbitrum Was alway more popular than Optimism except for a few cases like Week of May 30th (OP Launch).
• As for assets, It is obvious that USDC is the most popular in terms of number of users.

Now moving to Non-StableCoins which include ETH, WBTC and Matic:

• Polygon had the upper hand in earlier periods, but as time passes you can see that Arbitrum and Optimism are gaining more share and surpassing Polygon easily.
• This can be due to the fact that Arbitrum and Optimism adoption are going well, fees are decreasing and more dApps are running on them. Also arbitrum has airdrop possibility and Optimism recently airdropped its token to early supporters, while Polygon is not very active in this case anymore.

One step further to analyze Number of users in Hop is to see which assets are most popular in this aspect:

• ETH with more than 43 thousand Unique sender is responsible for nearly 80% of all users
• USDC is the most popular stable coin and Matic is the second Non-Stablecoin asset with most unique users
• May 30th has the record for most users and the reason is preparation for OP launch.

Now going into final charts which are demonstrating weekly volume bridged divided by the assets in use:

• As expected and in accordance to number of users, USDC has the most volume bridged in all weeks with almost 25Mil at its peak
• I excluded BTC from Non-Stablecoins since it had a very low volume, But looking at matic and ETH volumes you can see that ETH is for more popular and used than Matic