User Behavior (redux)

    🔴 Optimism

    Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

    🍣 SushiSwap

    SushiSwap (SUSHI) is a decentralized exchange (or DEX) built on the Ethereum network. Originally forked from Uniswap, SushiSwap leverages smart contracts in order to provide liquidity pools that allow users to directly trade crypto assets with no intermediary. Users can also become liquidity pool providers, supplying an equal value pair of two cryptocurrencies in order to receive rewards whenever anyone utilizes that pool. It is a decentralized finance (or DeFi) protocol.

    🧠 Methodology

    The Flipside database has been utilized to execute this analysis.In this dashboard, We are going to perform a comparison between Optimism and Ethereum on a overall and swap activity.

    The main tables that we are going to use for this bounty are fact_transactions and sushi.ez_swaps. All charts, and data are set with current_date - 180 to shows the past 6 months results.

    Joining fact_hourly_token_prices with sushi.ez_swaps and fact_transactions table will give us total and average fees on swaps based on $USD. All transactions on overall comparison is set by 'SUCCESS' to only consider successful transactions

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    ✍️ Question

    How is user behavior different on Optimism compared to L1?

    Specifically, create a comparison between swaps and transactions on ETH mainnet vs Optimism, looking for things like daily swap volume, daily active users, and average volume swapped (use a single DEX for your comparison, either Uniswap or Sushiswap). L2 is far cheaper, but by how much? What are the average fees for a swap on Optimism compared to ETH Mainnet?

    ✅ Overall Statistics on Optimism & Ethereum

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    🔭 Observation:

    In the past 6 months, Total active users on Ethereum outstretch to around 26M users. Total transactions on this network are 194M TX. Total paid fees for these transactions are 1B USD and average amount of fee for each TX is 5.65 USD. On the other hand, and in above time period Optimism conduct 745K active users with 23M TX. Total fees paid by users on this network is 6.1M USD and average amount of money users had to pay was 0.26 USD. Comparison of percentage share between these networks says, 89.4% of transactions be hold by Ethereum and Optimism has 10.6% of total among them. In the battle of active users, Ethereum has 97.2% of users while Optimism has only 2.8%. On monthly graph of metrics we saw from these two chains, Ethereum is losing volume on almost every metric while Optimism has better condition and showing some strength and stability.

    ✅ Swap Statistics of Sushiswap on Optimism & Ethereum

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    🔭 Observation:

    In the past 6 months, Total swappers of Ethereum chain on Sushiswap reached to 266K users. These users made 1.55M swap transactions on Sushiswap and paid 33.2M USD for swap fees. Optimism on the other hand, has 5120 unique swappers on Sushiswap.These user create 13.5K swap transactions on Sushiswap. Total amount of money Optimism paid on their swaps on Sushiswap is 21.6K USD. Average fee every user of Ethereum paid for a single swap on Sushiswap is 18.8 USD while this money is around 0.6 USD on Optimism network.

    Monthly graphs of swaps on Sushiswap shows Ethereum had 3.2B USD volume on May and this money decreased to 694M USD over the past month (Sep). While Optimism stat is much low compare to Ethereum but their condition is way more better. Optimism got 52K USD swap volume on May and this L2 chain managed to received 194K USD over the past month (Sep).Same exact scenario goes for swap transactions.

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    ✅ Additional Data of Sushiswap on Optimism & Ethereum

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    🔭 Observation:

    New swappers of Optimism are coming to Sushiswap every month while this item for Ethereum isn’t growing.

    On May 2022 new swappers of Optimism was 321 users and last month this number reached to 1,182 users.

    Below graph shows new pools on Sushiswap on both chains. Number of new pools on Optimism are almost steady while Ethereum has been

    lost about 200 on the last month.

    ✍️ Key Findings

    Total active users on Ethereum over the past 6 months outstretch to around 26M users while Optimism active users are 745K. Total transactions on Ethereum network are 194M TX but Optimism has 23M TX. Average paid fee on Ethereum for a transaction is 5.65 USD. Average paid fee on Optimism for a transaction is 0.26 USD. Ethereum is losing volume on almost every metric we investigate while Optimism has better condition and showing more strength or stability. Total swappers of Ethereum chain on Sushiswap reached to 266K users for the past 6 months. Optimism on the other hand, has 5120 unique swappers on Sushiswap. Ethereum swappers had 1.55M swap transactions on Sushiswap and Optimism swappers create 13.5K swaps. Average fee every user of Ethereum paid for a single swap on Sushiswap is 18.8 USD while this money is around 0.6 USD on Optimism network. New swappers of Optimism are coming to Sushiswap every month while this item for Ethereum isn’t growing.