Acknowledgment and supplementary Information

• I would like to show my sincere gratitude to the authors of the following dashboards that helped me very much indeed to do my own analysis: *
• Author: NSA2000
• Twitter of the Author: @NSA2000C
• Discord of the Author: NSA2000#5651
• Data from FlipsideCrypto
• Link to this dashboard’s tweet:

Summary

• This review aims to study the bridge to Optimism from Ethereum in order to find the 10 most popular first destinations for users that have just bridged from Ethereum as well as changes and trends over the last three months and six months.
• The daily variation of the active users shows a rather increasing trend with some spikes on 12 Sep and 9 Oct 2021 as well as 4 Aug 2022.
• The total number of active users is about 18.33K.
• The daily variation of the transactions shows a rather increasing trend with some spikes on 12 Sep and 9 Oct 2021 as well as 4 Aug 2022.
• The total number of transactions is about 20.48K.
• The daily variation of the volume shows a rather constant trend with some spikes on 26 Nov and 9 Oct 2021 as well as 6 Apr 2022.
• The total volume is about 6.1B.
• As far as the volume distribution of the bridge destinations according to the type of action is concerned, the top 10 most popular destinations are transfer, approval, swap, deposit, withdrawal, mint, delegate votes changed, issued, burned, and burn.
• The top three destinations according to the type of actions are as follows:
  • transfer: 4.2M (38.9%)
  • approval: 2.3M (21.6%)
  • swap: 1.6M (14.6%)
• As far as the daily variation of the transactions according to the bridge destinations by the type of action is concerned, the 3 most popular actions are transfer, approval, and swap.
• As far as the cumulative daily variation and distribution of the transactions according to the bridge destinations by type of action. is concerned, the 3 most popular actions are as follows:
  • transfer (893K, 39%)
  • approval (550K, 24%)
  • swap (244K, 10.7%)
• As far as the top most popular tokens according to the number of transactions are concerned, the top 3 tokens are as follows:
  • hop protocol: usdc (2172, 25.9%)
  • hop protocol: eth (1839, 22%)
  • beethoven x: general contract (1553, 18.6%)
• As far as the top most popular tokens according to volume are concerned, the top 3 tokens are as follows:
  • op token (112M, 45.6%)
  • beethoven x: general contract (49M, 19.9%)
  • hop protocol: eth (36M, 14.8%)
• As far as the most popular bridge destinations according to the number of transactions for the past month are concerned, the top three ones are hop protocol (139.81K, 27%), uniswap (97K, 18.7%), and project galaxy (66.28K, 12.8%).
• As far as the most popular bridge destinations according to the number of transactions for the past 3 months are concerned, the top three ones are uniswap (306.4K, 24.9%), hop protocol (254.5K, 20.6%), and velodrome finance (182.7K, 14.8%).
• As far as the most popular bridge destinations according to the number of transactions for the past 6 months are concerned, the top three ones are uniswap (534K, 25.1%), hop protocol (370K, 17.4%), and velodrome finance (263K, 12.4%).

These charts show the daily and cumulative variation of the active users.

• The daily variation of the active users shows a rather increasing trend with some spikes on 12 Sep and 9 Oct 2021 as well as 4 Aug 2022.
• The total number of active users is about 18.33K.

these charts show the daily and cumulative variation of the transactions.

• The daily variation of the transactions shows a rather increasing trend with some spikes on 12 Sep and 9 Oct 2021 as well as 4 Aug 2022.
• The total number of transactions is about 20.48K.

these charts show the daily and cumulative variation of the volume.

• The daily variation of the volume shows a rather constant trend with some spikes on 26 Nov and 9 Oct 2021 as well as 6 Apr 2022.
• The total volume is about 6.1B.

These charts show the cumulative daily variation and distribution of the transactions according to the bridge destinations by type of action.

• As far as the cumulative daily variation and distribution of the transactions according to the bridge destinations by type of action. is concerned, the 3 most popular actions are as follows:
• transfer (893K, 39%)
• approval (550K, 24%)
• swap (244K, 10.7%)

Introduction

Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now. However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these new applications a platform with enough scaling capabilities, they can seek alternatives like the BNB Chain or Cardano. Optimism rollout was created to solve exactly the scalability problem of Ethereum. Optimism Rollup network is one of the several solutions trying to address Ethereum’s congestion problem. The Ethereum network is often congested to the almost maximum capacity, and until upgrades to the main blockchain are made, scaling solutions like Optimism allow Ethereum’s transactional abilities to remain usable without shelling out a fortune on gas fees. In short, Optimism uses advanced data compression techniques to speed up and cut the costs of Ethereum transactions. They do so by a technique known as called Optimistic Rollups, where multiple transactions are “rolled up” into one transaction and settled on another cheaper blockchain. The verified transactions are then fed back to the main Ethereum blockchain. The biggest advantage of Optimistic Rollups is the fact that they do not compute by default, which theoretically leads to scalability gains. Estimates say Optimistic Rollups can offer 10-100x improvements to scalability. On the downside, however, is the existence of a “challenge period,” which is a time window in which anyone can challenge assertion and increase withdrawal time. []

Methodology

The data in this dashboard is obtained from the following tables:

ethereum.core.ez_token_transfers

ethereum.core.fact_event_logs

optimism.core.fact_event_logs

Aim of this analysis:

This review aims to study the bridge to Optimism from Ethereum in order to find the 10 most popular first destinations for users that have just bridged from Ethereum as well as changes and trends over the last three months and six months.

These pie charts show the volume distribution of the bridge destinations according to the type of action as well as the 10 most popular destinations:

• As far as the volume distribution of the bridge destinations according to the type of action is concerned, the top 10 most popular destinations are transfer, approval, swap, deposit, withdrawal, mint, delegate votes changed, issued, burned, and burn.
• The top three destinations according to the type of actions are as follows:
  • transfer: 4.2M (38.9%)
  • approval: 2.3M (21.6%)
  • swap: 1.6M (14.6%)

This chart shows the daily variation of the transactions according to the bridge destinations by the type of action.

• As far as the daily variation of the transactions according to the bridge destinations by the type of action is concerned, the 3 most popular actions are transfer, approval and swap.

This pie chart shows the top 10 most popular tokens according to the number of transactions.

As far as the top most popular tokens according to the number of transactions are concerned, the top 3 tokens are as follows:

• hop protocol: usdc (2172, 25.9%)
• hop protocol: eth (1839, 22%)
• beethoven x: general contract (1553, 18.6%)

This pie chart shows the top 10 most popular tokens according to volume.

As far as the top most popular tokens according to volume are concerned, the top 3 tokens are as follows:

• op token (112M, 45.6%)
• beethoven x: general contract (49M, 19.9%)
• hop protocol: eth (36M, 14.8%)

These charts show the most popular bridge destinations according to the number of transactions for the past 1, 3, and 6 months.

• As far as the most popular bridge destinations according to the number of transactions for the past month are concerned, the top three ones are hop protocol (139.81K, 27%), uniswap (97K, 18.7%), and project galaxy (66.28K, 12.8%).
• As far as the most popular bridge destinations according to the number of transactions for the past 3 months are concerned, the top three ones are uniswap (306.4K, 24.9%), hop protocol (254.5K, 20.6%), and velodrome finance (182.7K, 14.8%).
• As far as the most popular bridge destinations according to the number of transactions for the past 6 months are concerned, the top three ones are uniswap (534K, 25.1%), hop protocol (370K, 17.4%), and velodrome finance (263K, 12.4%).