Average Optimism Portfolio (redux)
Introduction
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In this analysis, You will read about the Optimism chain. We want to know What does the average Optimism user's portfolio look like and how has that changed over time?
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I went through the optimism chain and analyzed these parameters:
- Project Types
- Projects
- Events
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We want to know What % of a user's activity (in OP terms) is staked, unstaked, in liquidity pools/farms, in NFTs? How has this trend changed over time?
Analyzed by Hess - Reading Time Almost 10 Min.
Projects
- I filtered the top 10 weekly projects, not the top 10 projects of all time. Based on that, The highest user shares belong to Optimism. After that, Uniswap with 104K Unique wallets and 19% of total users is in second place. Personally, I didn’t hear too much about Rubicon but this project is in third place based on unique users. Over time, I can not see any notable change.
Users Portfolio
- The below section indicates the User’s portfolio on Optimism over time. Because of Optimism Airdrop, for two weeks, Delegate had more shares even in comparison to Swaps But over time, The swap activity had the highest weekly share in comparison to any other activities on Optimism. Since late September, NFT Shares increased and for four weeks were up to 14%. Staking, Liquidity has the lowest shares in comparison to other activities. Overall, 77.5% of user’s portfolio is swap.
A Summary of The Most Important Findings
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Based on Platform types and in OP terms, Layer2 (most bridges) has the highest shares in the Optimism users portfolio with 43% of total users.
After that, Dex projects with 28% of total users are in second place.
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Based on platform types and number of transactions, with a huge difference DEXs are in the first place.
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Optimism, Uniswap, and Rubicon had the highest number of users, and Velodrome, Uniswap, and Optimism had the highest number of transactions.
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Overall, 77% of User’s portfolios on Optimism, and in OP terms is Swap. NFTs with 2.2% is in the next place If we ignore the Operator event which it seems used for OP airdrop.
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Full Analysis
Platform Type
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First, I examined the User’s portfolio based on platform types. Layer2 with 256K Unique wallets had the highest number of users. Following that, DEX with 165K Unique users and 28% of user share is in second place.
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The weekly share chart shows Layer2 transactions decreased over time from 52% of transactions to 15-25% of transactions. Swap activity took Layer2 shares and became the first popular activity on On Optimism with more than 70% transactions. The total number of OP swaps is 1.5M transactions. With a Huge difference, Layer2, Defi, and NFTs are in the next places. Recently, Defi transactions share became 2x higher than in comparison to August.
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What is the Optimism chain?
Optimism is a Layer 2 scaling solution for Ethereum that can support all of Ethereum's Dapps. Instead of running all computation and data on the Ethereum network, Optimism puts all transaction data on-chain and runs computation off-chain, increasing Ethereum's transactions per second and decreasing transaction fees.
- Based on transactions, Until July, Layer2 projects were in the first place but after July, The cumulative number of DEX transactions increased and had the highest growth in comparison to other activities. Based on transactions, Defi projects became the second place over time and NFT users decreased.
- The large group of users had only one transaction based on platform types. However, DEX users had more than 300 users with above 100 transactions. T
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- Velodrome with more than 800K transactions is the most popular platform on the Optimism chain. Optimism with 757K transactions is in second place and Uniswap with nearly 500K is in the third place.
- The weekly share of the top 10 projects shows Velodrome shares decreased from 40-50% to 30%. Another project whose share increased is Rubicon. The weekly share of Rubicon transactions was below 2% in August but in November, The weekly share of Rubicon increased and reached up to 12%. Some other projects share increased but were lower than other projects that I mentioned.
Based on the top 15 projects on Optimism of all time, Perpetual protocol had the highest number of transactions. Uniswap was the second project based on transactions until July but after that Velodrome Tooks its place. Until October, Velodrome was in second place but after that Hop took its place and velodrome went to third place.
ALL CODES AND CONTENTS WERE WRITTEN BY HESS.
:bird: Twitter: @hessaminanloo
:flying_disc: Discord: hess#0890
:calendar: Analyze Date: 2022/NOV/10
Conclusion
- Optimism Users are similar to any other chains. Swap Activity has the highest shares in comparison to any other activities in any chain. NFT, Defi, and Bridge are growing and trying to increase their shares in the User’s portfolios. I can not say they weren’t success. They were but the slope of growth going up slowly.