What is Optimism?

Optimism is a Layer 2 scaling solution on Ethereum to reduce gas fees, process new transactions faster, thereby providing a smoother user experience while maintaining security from the Ethereum original chain. Optimism is an Optimistic Roll-up project, using a fraud-proof security mechanism.

Simply put, users transaction will be considered valid and approved if it cannot be proven fraudulent.

The Roll-up name refers to the separation of transactions from the main chain, then wrapping them in a single batch and creating proof, posting to Layer 1.

What is $OP?

Optimism launched its OP token on May 31. A total of 231,000 addresses were eligible to claim 214 million OP tokens for free (known as airdrop), That accounts for 5% of the total 4.29 billion supply, meaning 95% of the supply has yet to hit the market.

The OP token gives holders participation rights in The Optimism Collective, a two-tier governance system composed of Token House and Citizens’ House. Citizens’ House will come live later in 2022. Token House, which is already active, governs technical decisions related to Optimism, such as software upgrades. The Citizens’ House governs public-goods funding decisions.

$OP Airdrop information

The Optimism Foundation’s Airdrop #1 rewards those who have been instrumental as early adopters and active users of projects in the Optimism ecosystem. To celebrate our Ethereum roots, The Optimism Foundation also want to welcome active L1 participants who can help scale Ethereum’s innovations, culture, and values to Layer 2. In total, 248,699 addresses are eligible to claim OP in this initial airdrop.

Optimism airdrop has six sets of criteria. Two for Optimism users that target early adopters and active project users, and four for L1 Ethereum, which target active contribution, positive-sum behaviors, and active participation. Each set is distinct, meaning that an address can be eligible for multiple and allocated a sum of tokens accordingly. A snapshot of addresses was taken on 03-25-2022 0:00 UTC.

The allocations and criteria are shown in the right side picture.

Optimism made the chain’s early users happy with a sweet Airdrop, but are the Airdrop claimers loyal as before or the ones who didn’t qualify for the Airdrop are more active in the chain?

Methodology

Here are the metrics we will check in this dashboard:

• How many wallets ere eligible for $OP Airdrop?

• How was the claiming process and what was the number of the wallets in each tier?

• Activity of the Airdrop claimers and comparing it with the not-eligible wallets activity before and after the airdrop. (starting from 01-01-2022)

• Possible $OP price correlation and wallets activity (starting from 01-01-2022)

• Most favorite protocols on Optimism for Airdrop claimers before and after the airdrop. (starting from 01-01-2022)

• Airdrop claimers interactions with other L2 projects which have high possibility to Airdrop in future. (starting from 01-01-2022)

  Note: Optimism Airdrop contract address is 0xfedfaf1a10335448b7fa0268f56d2b44dbd357de

==Claiming $OP==

Total of 150.4k unique wallets have claimed the $OP airdrop until today, which means only %17 of the total 0.734m wallets available on Optimism chain at the current time.

IF we look back to the wallets status before taking the Airdrop Snapshot, we see more than %50 of the wallets interacting with the Optimism on that time, were became eligible for the $OP airdrop, so with this percentage of eligibility we can say $OP airdrop was a fair one and does not have some hard filters to distribute the airdrop for just small group of the users!

By looking at the daily claiming chart we can see the majority part of the eligible wallets had claimed their $OP tokens in the fist 2 days of the Airdrop (more than 110k of all 150k claimer wallets) but we also can see there are still some wallets which they are claiming $OP in these days, in other words every day there are some new wallets get their unclaimed Airdrop, however the distribution has started 6 month ago!

As we mentioned in the instructions, there are different conditions to get $OP Airdrop and the amount of Airdrop for each wallet can be different due to wallet’s activity.

And here we see %51.2 of the eligible wallets have claimed between 500~1000 $OP tokens which is the most common amount distributed as Airdrop between the wallets, also we see 671 wallets have claimed more than 1000 $OP, which make them ultra airdrop hunter active wallets!

==How the airdrop distributed? Was the number of transactions the only important thing to get $OP?==

For answering the above question, we should look at the average transaction counts made by each group of the claimers (groups are based by the amount of the Airdrop the wallets get).

As we see tier D (between 2000~5000 $OP) had the highest average transaction counts by far, each wallet in this group made 203 on average but there were some other groups with lower transaction counts but higher amount of Airdrop!

This means some conditions in the Airdrop distribution were more important than others, and the users passed those conditions got more $OP Airdrop than the others user, even with lower total transaction counts.

In previous part, we understand that most of the users got 500~1000 $OP tokens, and now we can see that this group’s average transaction count was 25.7, so most of the users had made a lest 25 transactions for getting $OP airdrop.

However there we users with less than 10 transactions on average, who were eligible for $OP Airdrop, Another reason that proves $OP airdrop was easy to get and did not need so much activity!

==How the tiers activity changed after getting the Airdrop?==

As we see, except Tier D, all group’s activity has been increased in making transactions on Optimism.

Another notable thing here is the increase of the gap between the users with higher Airdrop amount in phase 1 with the users who get lower $OP.

In fact, the ones who get more $OP, are more eager to get more!

As both before and after the Airdrop distribution, the wallets which were eligible for the 1st phase of $OP airdrop have higher activity compared with the wallets which were not eligible.

But both groups currently have lower activity comparing with the time when $OP had not airdropped yet.

The eligible group’s average transactions count has been decreased from 64.8 to 45.6 and the not-eligible group’s average transactions count decreased from 34.7 to 30.3.

As we see, the eligible groups activity has decreased much more than non-claimer ones.

This means the non-claimer group are a bit more eager to get next $OP Airdrops.

==Eligible wallets vs not-eligible wallets activity==

Above charts compare Airdrop eligible wallets activity vs other wallets activity, as we se although the eligible wallets transaction making has not decreased comparing with the time when $OP had not airdropped yet but the gap between this group and not eligible-wallets has been increased badly!

In fact recently the wallets did not received the $OP Airdrop are making much more transactions comparing with those who received Airdrop, However if we look in other way, this can show the growth of the Optimism, The chain is gaining popularity and new wallets are using optimism which can increase the number of wallets which have not received $OP yet, simply because they interaction with Optimism has stated after the Airdrop disturbuition.

==What percent of each group are ‘‘active users”?==

Here we are going to find each group’s active users: An active user is a user who makes at transaction at least in 5 days of a week( making 5 transactions in 1 day and being inactive in rest of the week is not accepted here! The user must have transactions in 5 days at least!)

In previous parts we see the non- Airdrop claimer wallets have higher counts and also higher transactions comparing with the group of the wallets which received the $OP airdrop, but if we look at the active wallet metric, we see less than 0.2% (1104) of the non-claimer wallets are using Optimism in 5 days of a week while in eligible wallets group there are 6.87% (10.33k) of wallets doing this action, in fact there is more royal users among airdrop receiver wallets comparing with the wallets not received the $OP airdrop!

==Is there a correlation between $OP price and wallets activity?==

At the first step we check this possibility for Airdrop receiver wallets, As we see the highest number of transactions by this group were submitted on the first days of the $OP token launch, and it seems that transactions was made for claiming and transferring the $OP tokens (possibly to Exchanges or DEXs to make $$$!) beside of that generally the transaction counts chart make some responses to spikes in $OP chart.

Non Airdrop receiver wallets behavior is different from ones who received $OP airdrop! as we see they do more reaction to $OP price changes and their transaction making rate is gowning through the time also there is no spike from them in $OP launch days, as they had not big amount of $OP, to transfer it and submit high amount of transactions like the Airdrop claimer group!

As we see, the wallets claimed the $OP airdrop are using the chain more frequently than before! We can see this on the charts above: the number of the wallets with less than 1 day gap between their 2 transactions, increased 22% after the $OP airdrop distribution, and it’s can be another reason to say the wallets received $Op airdrop are royal to Optimism although their average transaction counts have decreased.

==How the users rentention changed after disturnutiom the airdrop?==

The non $OP Airdrop receiver wallets status is different from the receiver group in this case, As we see the number of the wallets with less than 1 day gap between their 2 transactions is decreased here. This means although they have higher count in numbers and total transactions but they are not active as the airdrop receiver group, (In previous parts of this dashboard, we see only %0.2 of them are active while %6.8 of the Airdrop receiver group are active wallets)

What’s the favorite projects for Airdrop claimers?

As we see, Perpetual Protocol (The DEX where users can open leveraged long or short trading positions for a variety of assets using USDC as collateral) is the platform which is most selected by Airdrop claimers among all other Optimism projects. However Perpetual Protocol’s dominance has been decreased from 68% to 35% after $OP airdrop distribution.

If we look at the right chart, we can see high growth of Velodrome’s (The native AMM DEX on Optimism, launched a day after $OP airdrop distribution and airdropped $velo token to the $OP airdrop claimers at the first day of the launch) popularity, now having %10.5 share of total dapps used by $OP airdrop claimers.

Aztec:

Aztec is an open source layer 2 network that aims to bring scalability and privacy to Ethereum. It strives to enable affordable, private crypto payments via zero-knowledge proofs.

zkSync:

zkSync is a user-centric zk rollup platform from Matter Labs. It is a scaling solution for Ethereum, already live on Ethereum mainnet. It supports payments, token swaps and NFT minting.

Arbitrum:

Arbitrum is an Optimistic Rollup that aims to feel exactly like interacting with Ethereum, but with transactions costing a fraction of what they do on L1.

StarkNet:

StarkNet is a general purpose ZK-Rollup built using STARK cryptographic proof system. StarkNet uses the Cairo programming language both for its infrastructure and for writing StarkNet contracts.

L2 <--> L1 messaging infrastructure is available and contracts are fully composable.

==What other token-less L2 projects, $OP Airdrop claimers have interacted with?==

Currently there are 4 L2 projects with no token and high potential to airdrop, let’s see get familiar with them at first and then see which one is most favorite for $OP airdrop claimers:

As we see Arbitrum is the 1st choice of the $OP airdrop claimers by far. 77.5k of the $OP Airdrop claimer wallets have interacted with Arbitrum chain, which means more than half of the the ones who received the Optimism Airdrop are trying to get the $ARB token in future!

And of cure the Arbitrum odyssey event which was stated some month ago had high effect in this high amount of interaction.

Conclusion

• Only %17 of the total 0.734m wallets available on Optimism chain at current time have received $OP airdrop (more than %50 of the wallets interacting with the Optimism on the snapshot time)

• More than 110k of all 150k of the eligible wallets had claimed their $OP tokens in the first 2 days of the Airdrop.

• %51.2 of the eligible wallets have claimed between 500~1000 $OP tokens which is the most common amount distributed as Airdrop between the wallets.

• Users who got between 500~1000 $OP tokens had made 25 transaction on average before the snapshot

• some conditions in the Airdrop distribution were more important than others, and the users passed those conditions got more $OP Airdrop than the others user, even with lower total transaction counts.

• Users who get more $OP tokens, are making more transactions after the airdrop comparing the ones who get less $OP tokens.

• Generally Optimism users have lower activity comparing to the time when $OP had not been airdropped yet: The eligible group’s average transactions count has been decreased from 64.8 to 45.6 and the not-eligible group’s average transactions count has been decreased from 34.7 to 30.3.

• Optimism is gaining popularity and new wallets are using the chain, This can increase the number of wallets which have not received $OP yet and will increase the gap between Airdrop claimer wallets total transactions and non-claimer ones.

• Less than 0.2% (1104) of the non-claimer wallets are using Optimism in 5 days of a week while in eligible wallets group there are 6.87% (10.33k) of wallets doing this action, in fact there is more royal users among airdrop receiver wallets comparing with the wallets not received the $OP airdrop!

• The highest number of transactions by Airdrop claimer wallets were submitted on the first days of the $OP token launch, and it seems that transactions were made for claiming and transferring the $OP tokens (possibly to Exchanges or DEXs to take profits).

• The wallets which claimed the $OP airdrop are using the chain more frequently than before, the number of the wallets with less than 1 day gap between their 2 transactions, increased 22% after the $OP airdrop distribution.

• But in the non-claimer group, the number of the wallets with less than 1 day gap between their 2 transactions is decreased comparing with the time when $op hasn’t launched yet. This means although they have higher count in numbers and total transactions but they are not active as the airdrop receiver group.

• Perpetual Protocol  is the platform which is most selected by Airdrop claimers among all other Optimism projects. However Perpetual Protocol**’**s dominance has been decreased from 68% to 35% after $OP airdrop distribution.

• Velodrome is one of the most successful projects launched after $OP Airdrop, now having %10.5 share of total dapps used by $OP airdrop claimers.

• 77.5k of the $OP Airdrop claimer wallets have interacted with Arbitrum chain, which means more than half of the the ones who received the Optimism Airdrop are trying to get the $ARB token in future!

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Resources

Some codes has been obtained from Mr.Yousefi’s dashboard about $OP Airdrop review:

other sources:

Contact

• Discord: Hessish#9153

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Thanks for your attention, Have a nice day!👋

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