Optimism Bridge Analysis

Open analytics bounties are all about deep-dive dashboards into one specific topic.

Questions:

Describe activity across Optimism bridges.

1️⃣ Where are assets coming from, where are they going, and how are they used?

2️⃣ How does activity on custom bridges compare to the standard Optimism bridge?

Include any other questions or insights you find interesting.

BONUS: Post your dashboard on Twitter and tag @flipsidecrypto, @OptimismFND, and any relevant accounts!

Methodology:

for finding standard and custom contracts, we have used optimism.core.dim_labels table. 2
1. after finding contracts, we tracked them in optimism.core.ez_eth_transfers, ethereum.core.ez_eth_transfers and ethereum.core.ez_token_transfers .
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origin and destination addresses have been found in the above tables.

1️⃣ First question:

First part: Where are assets coming from, where are they going, and how are they used?

To answer the first part of the above question, the following information has been visualized:

Top 100 Origin addresses of ETH for standard bridges
Top 100 Origin addresses of ETH for custom bridges
Top 50 origin addresses of USDT for standard bridges
Top 50 origin addresses of USDT for custom bridges
Top 50 origin addresses of SNX for standard bridges
Top 50 origin addresses of SNX for custom bridges
Top 50 origin addresses of USDC for standard bridges
Top 50 origin addresses of USDC for custom bridges
Top 2 origin addresses of OP for standard bridges

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This data clarifies the question, "Where do the assets come from?". The origin addresses of the assets shown in these charts for both "Standard Bridges" and "Custom Bridges".

✅ Observations

The above information and charts determine the Origin of assets in optimism.

or instance, ==13.2%== of ETH in optimism comes from “0xef7fb88f709ac6148c07d070bc71d252e8e13b92” in standard bridges.

In custom bridges. ==88.1%== of total ETHs comes from “0xc50e57720785b3d827cf5394006a5c7755d725c0“.

1️⃣ First question:

Second part: Where are they going?

To answer the second part of the above question, the following information has been visualized:

Top 100 destination address that ETH transferred from standard bridges
Top 100 destination address that ETH transferred from custom bridges
Top 50 destination addresses of USDT transferred for standard bridges
Top 50 destination addresses of SNX transferred for standard bridges
Top 50 destination addresses of SNX transferred for custom bridges
Top 50 destination addresses of USDC transferred for standard bridges
Top 50 destination addresses of USDC transferred for custom bridges
Top 50 destination addresses of OP transferred for standard bridges

✅ Observations

The above information shows the destination of bridges.

As is clear, the information about “ETH, USDT, SNX, USDC, and OP“is visualized in both standard and custom bridges.

1️⃣ First question:

Third part: how are they used?

To answer the Third part of the above question, the following information has been visualized:

Top 50 second destination addresses of ETH for custom bridges
Top 50 second destination addresses of ETH for standard bridges

✅ Observations

The bridging to the “standard/custom bridges” considers the first destination tokens in the ecosystem.

We visualized the second destination of ETH as a frequent and popular token in optimism as the answer to the third part of the first question.

The question wants to determine “how are they used?“

As you can see in the ==20.1%== of total ETH conducted to the “0x86b4d2636ec473ac4a5dd83fc2beda98845249a7“ as the second destination and How to consume ETH in the custom bridge.

==12.8%== goes to the “0xc36442b4a4522e871399cd717abdd847ab11fe88“, and ==7.9%== flows to the “0x4200000000000000000000000000000000000006“

In standard bridges, second destination of ==28.3%== of ETH is related to the “0x76d3030728e52deb8848d5613abade88441cbc59“

==19.6%== to “0x1763f1a93815ee6e6bc3c4475d31cc9570716db2“, and ==10.4%== consumed in the “0x1111111254760f7ab3f16433eea9304126dcd199“

2️⃣ Second question:

How does activity on custom bridges compare to the standard Optimism bridge?

For this, we check the following:

List of all bridges on optimism
ETH bridged to standard/custom bridges per origin address
Number of Origin addresses that ETH comes from standard/custom bridge
Volume ETH came from Origin addresses to standard/custom bridge
The volume of ETH transferred to standard bridges
The volume of ETH transferred to standard bridges(daily)
The volume of tokens transferred to standard bridges
The volume of tokens transferred to standard bridges(daily)
The volume of ETH transferred from standard bridges(daily)
The volume of tokens transferred from standard bridges
The volume of tokens transferred from standard bridges(daily)
The volume of ETH transferred to custom bridges
The volume of ETH transferred to custom bridges(daily)
The volume of tokens transferred to custom bridges
The volume of tokens transferred to custom bridges(daily)
The volume of ETH transferred from custom bridges(daily)
The volume of tokens transferred from custom bridges
The volume of tokens transferred from custom bridges(daily)

✅ Observations

Volume ETH came from Origin addresses to the standard bridge is more than 434 K, and in custom, bridge is more than 1.631 M

The daily distribution of the above factors is visualized.

by above charts, we can investigate the activity on custom bridges compare to the standard Optimism bridge

✔️ Result and conclusion:

In this work, the "origin of the assets" was determined, then the "destination of the assets" was also clarified.

We discuss how the assets are consumed and finally the comparison between "standard bridges" and "custom bridges" has been done.