Question:

Analyze Optimism during the month of July as markets were get turbulent, showing whatever metrics you care to unearth.

You can choose any topic you’d like: How did the network perform? What about market performance? Were there significant inflows or outflows on bridges? Were there any notable patterns in user behavior?

Summary:

In this dashboard we will look into the following areas:

Layer based comparison:

• Volume by layer dominance

• Daily volume l1 vs l2

• Cumulative volume l2 vs l1

  Inflows to Optimism from Ethereum

• To which chain has most amount been sent

• Daily amount sent by chain

• Cumulative Amount sent by chain

• To which chain has most transactions been sent

• Daily transactions sent by chain

• Cumulative Transactions sent by chain

• Total amount transferred by chain and type of asset

  Outflows from Optimism:

• Daily Transaction Count By Symbol

• Cumulative Transaction BY Symbol

• Most transferred outflow by Transaction Count

• Daily Amount outflow By Symbol

• Cumulative amount BY Symbol

• Most transferred outflow by amount

  Optimism Compared with other chains:

• Daily % Success Transactions across all chains

• Daily Users Across Chains

• Cumulative Users Across Chains

• Daily Transactions Across All Chains

• Cumulative Transactions across chains

• Daily Fees Across All Chains

• Cumulative Fees across all chains

• Distribution of number of users across chains

• Distribution of number of transactions across chains

• Average Transactions per block on various chains

• Maximum Transactions per block on various chains

• Minimum Transactions per block on various chains

• Average Time Taken per block

• Average Time taken per block over time

• Average Time taken per block Distribution

Methodology:

• For the % success across all chains, we would be using the transactions table. The transactions table would also be used for daily users, cumulative users, daily transactions , cumulative transactions, daily fees, cumulative fees, distribution of new users and distribution of transactions among chains

• For average, maximum and minimum transactions in a block, the blocks table would be used. It will also be used for finding the average time taken between blocks, the average time taken over time and the average time taken per block distribution

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Introduction:

Optimism is one of the most popular chains and has been an established chain .

Optimism's strengths include:

• Ability to process transactions quickly
• Transaction fees are consistently low (in at about 0.001$)

Among Optimism's weaknesses are:

• Not an autonomous blockchain: (Dependent on ETH network).

• Limited use cases for OP

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In summary, some of it’s features are:

• Lesser Fees
• More transactions

Definitions & Notes:

• The data on chains is updated every day (the refresh rate has been set to daily)
• The data is from 1st JULY TO 31st JULY
• It is to be noted that as most of the charts are self-explanatory, the insights have only the necessary explanation
• Market Behaviour is the price, transaction based comparison
• Network Performance was calculated from the time between blocks and time taken between blocks

Next, we divide the page into 2 sections: One would have the visuals followed by the insights

Explanation & Insights:

• By transactions, WETH is the most preferred way of outflow while by amount USDC dominates way higher
• About 30M$ has been the total outflow in July with about 90% of the outflow volume in USDC and WETH

Explanation & Insights:

• Most of the volume is derived from L1s while a very inflows are from L2s on Optimism
• As much as 30M$ value has been transferred on a single day
• In all just over 105M$ was transferred in the month of July

Explanation & Insights:

• When the focus is on the amount sent to L2s from Ethereum, Arbitrum tops by number of transactions followed by Optimism while Polygon lags behind both by volume and the number of transactions. But this data is only from the Hop Protocol users. The dominance implies that users use to get into Optimism from Hop instead of it’s native bridge

Next, let’s view at some other stats:

Explanation & Insights:

• By number of transactions in July, Optimism is one of the worst performers among all chains
• By % of success transactions, Optimism has the least % of successful transactions
• By fees accumulated, Optimism has been able to fulfil it’s promise of lesser fees
• By number of users, Optimism is having the least active users among chains like FLOW, Algorand, BSC, Polygon, Arbitrum , Solana, Osmosis and Avalanche
• By time taken in a block, Optimism has the least average time taken or in other words, it’s one of the fastest chains
• Optimism has almost the same number of transactions as the number of blocks. This might be a rigged data on Flipside but the average time between blocks indicate it must be a fast chain and hence can process a high number of transactions
• It takes about 1s per block

Next, let’s view the price comparison between OP & WETH in July:

Explanation & Insights:

• OP has given lesser returns than ETH in the month of July as can be seen from the above comparison chart of prices

Conclusions:

In summary, Optimism has been able to keep up it’s promise of being a fast chain and having lesser fees as can be seen from the data in the month of July.It also had more inflows than outflows in the month of July despite the turbulent markets. On the hind sight, it has almost the least number of daily transactions, active users and the % of successful transactions in the month of July.

A detailed conclusion:

• Most of the volume is derived from L1s while a very inflows are from L2s on Optimism
• As much as 30M$ value has been transferred on a single day
• In all just over 105M$ was transferred in the month of July
• When the focus is on the amount sent to L2s from Ethereum, Arbitrum tops by number of transactions followed by Optimism while Polygon lags behind both by volume and the number of transactions. But this data is only from the Hop Protocol users. The dominance implies that users use to get into Optimism from Hop instead of it’s native bridge
• By transactions, WETH is the most preferred way of outflow while by amount USDC dominates way higher
• About 30M$ has been the total outflow in July with about 90% of the outflow volume in USDC and WETH
• By number of transactions in July, Optimism is one of the worst performers among all chains
• By % of success transactions, Optimism has the least % of successful transactions
• By fees accumulated, Optimism has been able to fulfil it’s promise of lesser fees
• By number of users, Optimism is having the least active users among chains like FLOW, Algorand, BSC, Polygon, Arbitrum , Solana, Osmosis and Avalanche
• By time taken in a block, Optimism has the least average time taken or in other words, it’s one of the fastest chains
• Optimism has almost the same number of transactions as the number of blocks. This might be a rigged data on Flipside but the average time between blocks indicate it must be a fast chain and hence can process a high number of transactions
• It takes about 1s per block
• OP has given lesser returns than ETH in the month of July as can be seen from the above comparison chart of prices