Task

• How many distinct wallets have deposited or withdrawn ETH to Optimism via the native bridge in the last 60 days? Visualize your findings.

Intro

Optimism is a low-cost and lightning-fast Ethereum L2 blockchain with two options for bridging ETH natively to its network.

1. Standard Bridge: Enabled to every transaction using the same trustless protocols that Ethereum and Optimism uses.

2. Warp Bridge: Enabled to transactions below 0.5 ETH. Uses a custodial bridge to provide faster and cheaper transactions.

Method

• To find the ETH sent to Optimism and its activity, Flipside's ethereum.core.fact_transactions table will be used.
  • 0x99C9fc46f92E8a1c0deC1b1747d010903E884bE1 is the contract for the Standard Bridge
  • 0x52ec2F3d7C5977A8E558C8D9C6000B615098E8fC is the contract for the Warp Bridge

• The distinct wallets that have used the Warp bridge clearly doubled just on those two days on May, 31th and June, 1st.

Analysis

• Both bridges starting to see an increase in daily uses around May, 25th.
• The Warp bridge has seen considerable more users, skyrocketing in activity in May, 31th.
• The standard bridge, while not near the activity going through the Warp bridge, also saw an increase in activity on May, 31th.
• After that bump in activity, daily usage has been dwindling over time.

• For the Standard bridge the growth in distinct wallets came before, constant over time instead of a big jump.
• The big movement in May, 31th and June 1st, did add 8k new wallets to the bridge though.

• Here the difference from the two bridges become really clear.
• While the standard one has much less activity, the amount of ETH bridged with it is much bigger than those on the Warp bridge.
• And given the limit of 0.5 eth on the Warp bridge, while the activity is much bigger than the Standard one, the ETH volume is far lower.

In short

• Optimism Bridges had been getting more and more attention until a few days after the big bump in activity on June 1st.
• Warp bridge has had considerably more activity than the Standard one.
• The Standard one has barely more than half the activity than the Warp bridge, but it's ETH volume is 27 times bigger.

• Starting with the amount of distinct wallets using both native Optimism's bridges, we have 72k distinct wallets.