OP Labs collab with Succinct Labs aims to provide greater accessibility to ZKP technology
Optimism Weekly Overview - September 17, 2024
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $2.59B (+6.4%)
Assets onchain: $13.13B (+7.7%)
Daily average transaction volume: 6.57M (+17.6%)
Fraxtal: 6.05K (-20.71%)
Mode: 87.40K (-18.29%)
Base: 4.58M (+10.63%)
Zora: 108.75K (+0.56%)
Redstone: 4.49K (+99.56%)
OP Mainnet: 583.12K (-11.60%)
Kroma: 837.52K (+322.69%)
Revenue-generating deployers on:
Base: 4,708 (+2.68%)
Zora: 158 (-5.39%)
OP Mainnet: 1,107 (+0.73%)
Superchains: 5,420 (+2.24%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 6,096 ETH
Base: 24,110 ETH
Zora: 1,055 ETH
Compared to Ethereum, L2 Superchain users saved a total of 31,261 ETH, or $74.31M 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
🔴What’s happening: OP Labs collaborated with Succinct Labs to release OP Succinct, a toolkit that chains and rollups can use to integrate zero knowledge proofs (ZKPs).
🔴Why it matters: OP Succinct aims to make it easier to convert an OP Stack chain that uses optimistic rollups and upgrade to ZK rollups by leveraging SP1, Succinct’s zkVM, to give developers the option to enable ZKP for their rollups.
Traditionally, OP Stack chains have been deployed using optimistic rollups. However, with the release of OP Succinct, OP Stack rollups can now use ZKP technology. This is important because ZK technology is seen as more secure, offers faster finality, and is a better cost efficient option compared to optimistic rollups. For context, check out the chart below by Succinct. It showcases the costs with an OP Succinct integration on three chains built on OP Stack technology
ZK rollups use cryptographic proofs to verify the validity of a group of transactions off-chain. This method eliminates the need for a dispute period, providing faster transaction finality and lower gas costs than optimistic rollups. However, it is also very difficult and requires deep expertise in order to build it into a rollup.
With ZKPs continuously evolving the capabilities it can offer, it's in the best interest for any chain or rollup to use ZKPs in its technology when possible. If any chain or rollup built using the OP Stack can integrate ZKP technology through OP Succinct, it can lead to a more advanced developer experience that can offer more customization and maintainability.
🔴What it means for the broader ecosystem: As ZKP rollups become easier to implement, the adoption of this faster and more secure technology may increase. This in turn can improve user experience in areas such as withdrawals, latency, and transaction costs.
And this shouldn’t come as a surprise.
In the most recent Superchain Quarterly Webinar hosted by Token Relations, OP Labs CEO Karl Floersch emphasized the team’s strong interest to incorporate ZKPs to the OP Stack.
Additionally, Optimism co-founder Jing Wang outlined in a post on X that implementation of ZK-rollup technology to the OP Stack and switching to ZK-rollups entirely is one of their missions.
Now, with OP Labs’ collaboration with Succinct Labs, the inclusion of ZKP technology in the OP Stack has progressed even further.
The launch of OP Succinct could impact the Superchain ecosystem by driving increased scalability and interoperability across chains. This release can become a major initiative in the general push toward more modular and adaptable blockchain infrastructures.
What’s poppin’ on the Superchain
👤Total number of weekly active addresses by chain:
Base: 7.05M
OP Mainnet: 343.01K
Zora: 118.19K
Mode Network: 10.85K
Coinbase launched cbBTC, a 1:1 bitcoin-backed token, on Base
Boba Network shared its multichain L2, built using the OP Stack, will join the Superchain
Soneium announced it joined the Chainlink Scale program to integrate data feeds and interoperability tools to its network
Zora released its onchain creator platform to the iOS app store
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
ICYMI: Superchain hosted its demo day that featured projects building in the ecosystem
Flipside Crypto user jackguy created a dashboard that showcased numerous cbBTC metrics
Check out the “Summer never ends” mint gallery – a showcase that commemorates Base’s “Onchain Summer” campaign
X user pawnie_ shared their content creation journey and experience in the Gameswift and Superchain ecosystem
Making headlines
Boba Network Joins the Superchain Ecosystem, Ushering in a New Era of Interoperability and Decentralization (Cointelegraph)
Paradigm-backed startup Succinct and OP Labs aim to solve ZK rollups (The Block)
Building The AIFi Economy (Mode on Medium)
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.
OP Labsi and builders from the Superchain will be speaking at AltLayer’s Rollup Day on Sept. 20 in Singapore
Meet other Optimism Collective builders and share your work during Optimism Fractal, an online community hosted event hosted every Thursday
Check out the details for Retroactive Funding 6 where up to 3.5M OP will be distributed among contributors to Optimism Governance S5 and S6
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This product was built by Token Relations.
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.