Introduction

What is Optimism?

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, and it's increasingly becoming popular along with other layer 2s, such as Arbitrum.

What is the difference between L1s and L2s?

A layer 1 (L1) network blockchain that serves as the base layer to store information that can represent: - assets such as tokens; - smart contracts which can form dApps. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks.

What is a DEX?

A decentralized exchange (DEX) is a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without the need for an intermediary to facilitate the transfer and custody of funds.

Methodology

We are looking to see what liquidity Tokens are most popular on Optimism and how these tokens have been swapped over time. To figure this out We will find the top 10 tokens on optimism in terms of swaps and uswappers and we will look at the swap activity of these tokens over time.

Top Optimism Token Metrics

Observations

In terms of both number of users and number of swaps the 3 most swapped assets on Optimism are HOP-eth, HOP-usdc, and the OP token. all of the tokes have over 6,000 swappers executing over 40,000 transactions. About half of all the top assets in use on Optimism were bridged from Ethereum to Optimism.

Observations

Currently there are about 25,000 - 35,000 swaps of top tokens on optimism per day. Most days there HOP-eth and HOP-usdc make up more than half of all the swaps of tokens on Optimism. The OP token has been continuously involved in about 10% of Optimism trades.

Observations

Currently the number of DEX swaps on optimis are about 10% - 20% the swaps on Ethereum. The number of active users on Optimism each day make up 2.5% - 5% of the swaps on Ethereum. It seems that Optimism is currently a very active chain and there is 4x the swaps per user than on Ethereum.

Conclusion

The most popular assets on Optimism other than the native token are stablecoins weth, and wbtc.The users swapping the hop tokens on Optimism currently make up abput 80% of the wallets swapping on the platform. Users swapping on Optimism are much more active than their counterparts on ethereum one reason for this could be due to the low gass fees for swapping.