Diving deep into what L3s on the Superchain really means
Optimism Weekly Overview - May 14, 2024
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Superchain Ecosystem Numbers
DeFi Total Value Locked (TVL) across Superchain: $2.84B (-3.8%)
Assets onchain: $13.16B (-4.0%)
Daily average transaction volume: 3.16M (-8.14%)
Base: 2.28M (-7.7%)
Zora: 103.73K (-7.4%)
OP Mainnet: 499.29K (-20.1%)
Mode: 270.97K (+17.67%)
Fraxtal 2.72K (-16.1%)
Revenue-generating deployers on:
Base: 5,933 (-1.7%)
OP Mainnet: 1,050 (-1.6%)
Superchains: 6,658 (-1.9%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 40,617 ETH
Base: 78,186 ETH
Zora: 13,626 ETH
Compared to Ethereum, L2 Superchain users saved a total of 132,429 ETH, or about $380M on txn fees this week.
The percentages and metrics are pulled from OPLabs data on Dune and are calculated from its change over a 7-day time frame, unless noted otherwise.
Spotlight on Optimism’s Superchain
Highlighting some of the biggest updates on Optimism’s Superchain this week.
⚡What’s happening: Layer-3 (L3) blockchains can now find shelter under Optimism’s Superchain.
⚡Why it matters: Last week, Optimism announced that L3 chains could join the Superchain by building their networks with the OP Stack and share a portion of its sequencer revenue with its governance group, Optimism Collective. This move adds greater value to the overall ecosystem’s business model and can open the doors for additional capital and talent to be applied to its grant and reward programs, among other areas.
“You can join the superchain and would give 15% to the optimism collective, but that is then reinvested to you and your builders via Retro Funding,” Optimism’s Binji said on X on Monday. “Also, you will enjoy shared upgrades, campaigns & governance decentralization. The latter point is slept on and will grow increasingly important as the entire industry scales.”
The Superchain is made up of a number of blockchains including bigtime ones like Coinbase’s Base and Worldcoin’s new L2, World Chain. The chains within its ecosystem also share open-source tech stacks, which means that any developer can utilize, examine or repurpose the code, and it opens the door for greater innovation to collaborate and build onchain.
The real benefit lies with team expansion, Binji added. “Joining the superchain means you don’t need to do all of the legwork alone and can enjoy the shared fruits of collective advancements.”
Any L3 chain that joins the Superchain will have access to the Retro Funding, airdrops, growth campaigns, its established ecosystem and users, as well as a big network of developers, Optimism said.
The Superchain is also providing two features, custom gas tokens and its alternative data availability protocol “Plasma Mode,” to support L3 builders. Custom gas tokens provide developers who have built their communities around an existing layer-2 blockchain to utilize their L3 token as the “gas token,” which also lowers onboarding costs for new users.
⚡What it means for the broader ecosystem: Providing a welcoming home for the budding L3 sector could put Optimism and these specific chains into a better position to grow long term. A number teams supporting L3s like Caldera, Syndicate and Gelato Network, have committed to launching and growing them on the Superchain, too, further expanding the vision.
As the L3 space rolls out, many of them are looking for a network or ecosystem to tie to so they can grow at an accelerated pace. “L3s can provide application developers and those who want to deploy their own blockchain with a new, more cost-effective way to build within the Superchain ecosystem,” Optimism said in a blog post. “We’re already seeing this trend with Base, which has rapidly expanded support for L3s building on top of it.”
⚡ TLDR: L3s are more than just a catchy marketing tactic and the Superchain is doubling down its mission to be an open-sourced haven for blockchains to build on top of by opening the door to these chains. Optimistically put, Base’s creator Jesse Pollak said on X, there will be “millions of L3s” on the Superchain. As the saying goes, a rising tide lifts all ships. 🚢
What’s poppin on the Superchain
👤Total weekly active addresses on Superchain was about 1.98M.
👤Total number of weekly active addresses by chain:
Base: 1.43M
OP Mainnet: 572.5K
Zora: 197.6K
Mode Network: 170.8K
Meanwhile:
OKX to support Lisk network’s LSK token migration from LSK L1 to LSK L2
Supermigrate launched on Friday to help make migrations, bridging and liquidity transitions more smooth
Metal L2, the “Banking Layer” for Metallicus joined the Superchain
L1 data costs are approaching 0 on the Superchain, find out what that means here
The recently launched Redstone chain had $1.8M in assets bridged, signaling increased interest in onchain games, according to Token Terminal data
Want to join the Superchain family? Fill out this form.
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
ICYMI: Base’s Jesse Pollak went on nft now and Bankless to talk about Base and the Superchain
PSA to those interested in governance and data-driven research: a new Optimism Foundation Mission Request just dropped – enter here
The Worldcoin Foundation Community Grants Program was announced, here are the guidelines
Aerodrome, a central trading and liquidity marketplace on Base, saw its Slipstream TVL hit $35M, after launching just 2.5 weeks ago
For more Optimism Collective weekly updates, look here.
Making headlines
Worldcoin Brings World ID Verification to Peru (Worldcoin Blog)
For more details on Optimism’s expansion into L3s…check out the articles on The Block, Cointelegraph and Crypto Briefing
Superchain-based Mode Network Kicks Off Airdrop (The Defiant)
Get into the OP Stack
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Building on Base? The application for Alliance’s MVP Hackathon closes soon, apply here
Join the Superchain Demo Day on May 23 at 11:00am – 12:00pm EST
Today is the last day for the Ongoing Lisk Spring Hackathon
Fully remote participation
Prize Pool: $38,750
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.