Bridger Destinations - Optimism

    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?

    Methodology

    • The Credit for the Base queries goes to the following queries [1] , [2]
    • The Base query in some cases is modified for the required data.
    • The overall analysis focuses First on the Bridging stats, namely number of transactions, amount bridged and the number of users.
    • Then it dives deep into the next actions that each wallet takes after bridging.
    • Also looks in the next protocol that each wallet uses after bridging to Optimism.

    Bridging Stats

    • Sep 2021 saw the highest number of users bridging, with 51.6K unique users in Sep 2021.
    • Sep 2021 saw the highest number of bridged transactions, with 54K transactions in Sep 2021.
    • However, Aug 2022, was really when the most amount of ETH was bridged over with a total of 117K $ETH or 193M $USD worth of ETH.
    • The cumulative stats show that till date 312K ETH has been bridged by 197K transactions for a total volume of 687M $USD.

    Most popular destinations

    • Hop Protocol is by far the most popular destination after bridging to Optimism from Ethereum.

      • This is the case for both overall and the past month.
      • Over all Hop Protocol saw 6K transactions 400 out of which came in the past month
    • Uniswap is by the second most popular destination after bridging to Optimism from Ethereum overall, however AAVE is in the past month.

      • Over all Uniswap saw 1.8K transactions vs about 200 for AAVE most of them came in the last month.
    • June 2022 has been the most popular month overall, whereas Aug 16, 2022 has been the most popular day in the past 30 days.

    • The most common event after bridging is transfer with 2.5M transactions overall, followed by swap with 1.4M transactions.

    Conclusion

    • The Transaction Frequency for bridging has significantly reduced, however the volume has spiked significantly in the past few months.
    • Hop Protocol seems to be most popular destination overall and for the past month both.
    • Overall Uniswap was the second most popular destination, however it has been AAVE in the past month.
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