Overview

Optimism is a low-cost and extremely fast Ethereum L2 blockchain. Optimism is a new digital democratic governance model optimized to drive rapid and continuous growth of a decentralized ecosystem. Swaps can be performed on Optimism via DEX. The most common DEX available on Optimism are Velodrome Finance as well as Uniswap.

As said before, Optimism protocol is a Layer2 protocol that aims to help Ethereum users speed up and pay less fees for transactions on the Ethereum network. To achieve this, Optimism works on the basis of a technology known as "Optimistic Rollups".

This is a scalability technology of the "rollups" type, which encapsulates a large number of Ethereum transactions and synthesises them into a single transaction that is then stored on the blockchain. In this way, the Optimism protocol can take hundreds of transactions and reduce them to a single transaction, increasing the scalability of the network while maintaining security.

Methodology

The intention of this dashboard is to take a look at the average Optimism portfolio in order to track not only how are the current OP balances distributed but also which is the behavior of this users in several terms.

To do so, the metrics we are gonna take into account are:

• Number of users per balance and evolution dsitribution
• Distribution of OPs by wallet holdings
• Number of wallets per sector used and distribution
• Number of transaction per contract used and distribution
• Most common actions done by OP users and distribution

User balance and group holdings

In the first image we can see the current distribution of users by its balance. It can be seen how the largest group is those users who are holding less than 100 USD. It is to say that there are more users holding more than 100k USD than between 50 and 100k USD. If we consider this metric over time, we can see how the percentage of users holding less than 100 USD has been increasing over time, passing from less than 70% on May to more than 80% on the current month. The group that has been reduced the most is the users holding between 1k and 10k USD that has decreased from 12% to 3%,

Taking into account the total OP balances that each group represents, we can see how in this case, the users that are holding more than 100k represents more than 90% of the total holdings. We have to take into account that this group is composed by only 155 users and we have to consider that 155 users are holding more than 90% of the total OP balances. However, if we consider this metric over time, we can see that this percentage has been decreasing over time, passing from 99.5% to less than 93%.

User behavior by each sector

Looking at the sectors that Optimism users are using, we can see how some changes have been done since the launch. While during the first months the most common sectors were DEX, Layer 2 and Operator, the most common sectors right now are Layer 2 and DEX with difference against the other sectors. In fact, if we take a look at the evolution of the distribution of transactions per sector, we can see that the operator transactions decreased considerably reaching less than 1% right now. In fact, Layer 2 actions has also been decreased from more than 40% to around 30%. DEX has increased from 10 to 30%.

Considering the different contracts an Optimism user can use, we can see how some changes have been done since the launch. While during the first months the most common contracts were token contract, general contract and airdrop contract, the most common contracts right now are general contract, token contract and swap contract. If we take a look at the evolution of the distribution of transactions per contract, we can see that the general contract transactions increased considerably from less than 20% to more than 40%. The token contract actions has also been decreased from more than 50% to less than 20%. In contract, the swap actions increased from less than 5% to more than 15%.

User behavior by actions

In this final section, we are gonna take a look at the different actions Optimism users are doing. In the first chart, we can see how the major of the actions has been ‘Other’ not related to swapping activity, liquidity activity nor NFT activity. However, we can see how the major of the actions have been increased over time.

If we take a look at the distribution over time, we can see that the amount of swap transactions increased from 12% in May to almost 40% right now. Another important metric that experimented some changes has been the Delegation actions, that increased to almost 30% on May but now has been decreased to 6%. But it is still one of the most common actions. Finally, liquidity activity actions increased to almost 1% if we take into account both, addings and removings.

In the chart on the left, we can see the current global distribution of transactions per each action. In this case, we can see how the swaps represent more than 35% of the total actions with more than 2.8M done so far. Delegations represents almost 10%, a good percentage as well. While NFTs represents 1%.

Key insights

• The largest group is composed by users who are holding less than 100 USD.
• It is to say that there are more users holding more than 100k USD than between 50 and 100k USD.
• The percentage of users holding less than 100 USD has been increasing over time, passing from less than 70% on May to more than 80% on the current month.
• The group that has been reduced the most is the users holding between 1k and 10k USD that has decreased from 12% to 3%,
• The users that are holding more than 100k represents more than 90% of the total holdings.
• While during the first months the most common sectors were DEX, Layer 2 and Operator, the most common sectors right now are Layer 2 and DEX with difference against the other sectors.
• Even over the past months the major of the actions has been ‘Other’ not related to swapping activity, liquidity activity nor NFT activity. However, we can see how the major of the actions have been increased over time.
• The amount of swap transactions increased from 12% in May to almost 40% right now. Another important metric that experimented some changes has been the Delegation actions, that increased to almost 30% on May but now has been decreased to 6%.
• The current global distribution of transactions per each action. In this case, we can see how the swaps represent more than 35% of the total actions with more than 2.8M done so far. Delegations represents almost 10%, a good percentage as well. While NFTs represents 1%.

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