Questions

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Where do people go when they bridge to Optimism from Ethereum?

What are the 10 most popular first destinations for users that have just bridged from Ethereum? What has this been for each day in the past month?

Approach

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• Find Bridge Tx that occurred in past one month
• Find Tx that happened right after the previous Bridge Tx with particular user
• Find Function name of that Tx
• Analyze obtained data to answer the question as will be presented

Note that

• Bridge Tx above is user’s first Bridge Tx ever in Optimism
• Data is from 12 Aug - 10 Sep (30 days)

Conclusions

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Top popular functions

• approve(47%)
• multicall (13.5%)
• swap (4.11%)
• depositETH (4.03%)
• transfer (3.57%)
• swapAndSend (3.5%)

Daily Basis

• In daily basis, the above proportion is quite stable for large volume functions like approve and multicall

• The others are quite fluctuated due to very low volume

  \

Top popular actions

• Approve USDC (26.82%)

• Swap via Uniswap V3: Router 2 (16.45%)

• Approve DAI (8.87%)

• Approve USDT (5.98%)

• Swap via 1inch.exchange: Aggregation Router V4 (5.28%)

• Swap for and Deposit h-tokens via Hop protocol (4.09%)

• Approve WBTC (3.89%)

• Deposit ETH via Aave: WETH Gateway V3 (3.39%)

• Wrap ETH (2.99%)

• Approve LYRA (2.99%)

• It conforms with the popular functions such that most of actions are Approve tokens

• Others are Swap, Deposit and Wrap ETH.

Where exactly is the popular destination?

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Until now, we got only popular functions and events. But what exactly users do right after they bridge? like in which platform or which token?

The above bar charts contains Top10 Functions with Contracts users interact with right after they bridge. In this context, we filter for Tx users make after they bridge less than or equal to 1 day, to emphasize the phase “right after they bridge“.

It’s easier to see from the below table, most popular destinations (Top 10 actions) are

• approve, with contract 0x7f5c764cbc14f9669b88837ca1490cca17c31607

  • = Approve USDC (26.82%)

    \

• multicall, with contract 0x68b3465833fb72a70ecdf485e0e4c7bd8665fc45

  • = Swap via Uniswap V3: Router 2 (16.45%)

    \

• approve, with contract 0xda10009cbd5d07dd0cecc66161fc93d7c9000da1

  • = Approve DAI (8.87%)

    \

• approve, with contract 0x94b008aa00579c1307b0ef2c499ad98a8ce58e58

  • = Approve USDT (5.98%)

    \

• swap, with contract 0x1111111254760f7ab3f16433eea9304126dcd199

  • = Swap via 1inch.exchange: Aggregation Router V4 (5.28%)

    \

• swapAndSend, with contract 0x86ca30bef97fb651b8d866d45503684b90cb3312

  • = Swap for h-tokens and send to null address in Hop protocol

  • = Deposit h-tokens (4.09%)

    \

• approve, with contract 0x68f180fcce6836688e9084f035309e29bf0a2095

  • = Approve WBTC (3.89%)

    \

• depositETH, with contract 0x86b4d2636ec473ac4a5dd83fc2beda98845249a7

  • = Deposit ETH via Aave: WETH Gateway V3 (3.39%)

    \

• deposit, with contract 0x4200000000000000000000000000000000000006

  • = Wrap ETH (2.99%)

    \

• approve, with contract 0x50c5725949a6f0c72e6c4a641f24049a917db0cb
  • = Approve LYRA (2.99%)

Functions Users interact with right after they bridge

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In past one month, after users bridge, they are likely to interact with function

• approve(47%)
• multicall (13.5%)
• swap (4.11%)
• depositETH (4.03%)
• transfer (3.57%)
• swapAndSend (3.5%)
• deposit (2.97%)
• Other 82 functions (21.32%)

How long does it take for users to make Tx after they bridge?

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• From the up right donut chart, we can see that users mostly make Tx in the same day when they bridge in (88.1%).
• Whereas 5.48% of them make Tx 1 day after they bridge, and 6.42% delay longer than that, up to 18 days.
• The proportion is quite stable throughout the functions as we can notice from the right above bar chart.

Events from Tx users make after they bridge

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From the right donut chart, most of events in the Tx is Transfer (45.3%), which is not surprising, since Transfer is popular event in any Tx, and sometimes there can be a lot of Transfer in one Tx.

After that, Approval (19.4%) > Swap (11%) > Deposit (10.3%), which quite conform with Functions statistic above.

Daily Basis

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In daily basis, proportion of functions in one day is quite stable throughout the month for large volume Functions like approve and multicall.

The others are quite fluctuated from time to time. Because it has even lower volume when it comes to Daily Basis.