What is Optimism?

Optimism (OP) is a cryptocurrency network that has tasked itself with solving the Ethereum (ETH) blockchains scalability problem by rolling up transactions into batches to reduce the fees paid by users in the process.

For more information click here.

Metrics:

1. Daily Total Succesful vs Failed Transactions
2. Daily Percentage of Successful and Failed Transactions
3. Daily Average Transactions Per Second
4. Overall Average Transactions Per Second
5. Top 10 Events By Total Transactions
6. Top 10 Events By Percentage of Total Transactions
7. Daily Transactions Involving Top 10 Events by Event
8. Top 10 Projects Interacted With by Total Transactions
9. Daily Total Transactions interacting with Top 10 Projects by Project
10. Project Types by Total Transactions
11. Daily Total Transactions by Project Type
12. Top 10 NFT Projects by Total Sales Volume in ETH
13. Top 10 NFT Projects by Percentage of Total Sales Volume
14. Daily ETH Sales Volume of Top NFT Projects

Methodology:

In this dashboard I am going to be looking at a handful of different metric on Optimism all over the course of July. I will look both overtime and overall at these metric to get an idea of how they have developed and where they are at now. I will discuss these metrics in detail and provide any insights or conclusions that I come to.

Optimism Performance Analysis:

If we look at the first graph in the top left corner we can see that the daily amount of transactions overall increased over the month of July starting at around 70k daily and ending at around 250k daily at it peak. As the amount of transactions increased so did the amount of failed transactions which is to be expected. If we move to the right we can see the percentage of failed transactions everyday and as you can see it appears that as more and more transactions were being made as the month went on the percentage of failed transactions increased, reaching heights of nearly 15% failed transactions in a single day. Overall though the percentage of failed transactions tended to stay around or below 10% for the month of July. If we move onto the metric in the bottom left corner we can see the average transactions speed per second each day, as you can see it was below 1 for the first part of July but then saw heights of a little over 2 by middle/end of July. If we look at the final metric on the right it shows that the overall average transactions per second on Optimism is 1.4 meaning that earlier in the month was below average in terms of TPS while later in the month was above average.

Event Analysis:

If we look at the metric in the top left corner we can see the most popular events by total transactions associated with them, by the far the most popular is Transfer with over 14.7M transactions associated with it, the second largest are swap and approval which only have a fraction of the total transactions. If we move onto the metric below in the bottom left we can see the same metric but displayed as a pie chart, here we can really see that the top 2 events make up the wide majority of transactions on Optimism. If we move onto the final metric in this section directly above we can see the transactions each day by event as you can see and as is expected transfer and swap make up the wide majority of these transactions although there are also a handful of others that users make on a daily basis. Over the month of July there wasn’t much change in the type of transactions users were making although there were more transactions made overall they tended to be of the same type.

Project Analysis:

If we look at the metric in the top left corner we can se that the most popular project users interact with is by far hop protocol, although there are several a lot of other projects users also interact with in large volume. If we move onto the graph on the right we can see the daily interactions with these projects, it appears that Velodrome Finance and optimism became way more popular to interact with as time went on as they started making up a larger portion of the daily transactions later in the month. If we move onto the metric in the bottom left corner we can see that the most popular type of project to interact with is by far layer2, on a daily basis layer2 makes up the majority of the transactions although it appears dex and defi make more of a contribution later in the month which is likely contributed to by velodrome finance.

NFT Analysis:

If we look at the first metric in the top left we can see that the most popular NFTs on solana by far are apetimism and optipunk which have sales volumes of 27 and 31 ETH relatively. The remaining top 10 NFT projects on Optimism have much less volume in sales, all less than 5 ETH. If we move onto the metric in the bottom left corner we can see the same metric but on a pie chart, from this we can see once again that the top 2 dominate in terms of sales volume and the remaining 8 all take up roughly equal portions of the pie. If we move onto our final metric directly above we can see that NFT sales on Optimism were better earlier in the month but declined quickly and then stayed at around 2 ETH in total sales volume on a daily basis, although there are some discrepancies to this pattern. Overall the majority of this volume is made up by the top two projects as noted earlier.

Conclusion:

1. As the Month went on the total amount of transactions on Optimism increased and as a result the percentage of successful transactions decreased slightly.
2. The transactions per second increased slightly over the month of July.
3. The most popular events taken on Optimism are Transfer and Swap which remained the same over the month of July.
4. The top project users interact with on Optimism is Hop Protocol, which remained the most popular over the month of July although Velodrome Finance also began to gain popularity over this time period.
5. The most popular NFT projects on Optimism by a large margin are Optipunk and Apetimism and have remained so over the month of July.
6. NFT sales on Optimism dropped pretty low early in July and then remained that way for the rest of July.