Optimism Weekly Overview
April 16, 2024
Welcome back to the Optimism Weekly Overview.
We’re creating the best place for the community to get up to speed on the chain’s latest updates, metrics and releases as well as the Superchain ecosystem developments, insights and more – all in one place. Every Tuesday.
Superchain Ecosystem Numbers
Total Value Locked (TVL) across Superchain: $11.33B (-9.4%)
Optimism average daily transactions as of April 15: 4.62M (+12%)
Base: 2.97M (-6.9%)
Zora: 627.6K (-41.8%)
OP Mainnet: 669.69K (+4.07%)
Mode: 159.96K (-33.9%)
Revenue-generating devs across chains:
Base: 5,172 (+24.23%)
Zora: 195 (+2.1%)
OP Mainnet: 1,074 (+1.7%)
OP Chains: 5,979 (+20.4%)
Optimism’s average txn fee (today): $0.0921
Superchain transaction savings vs L1s:
OP Mainnet: 50,617 ETH
Base: 78,186.4 ETH
Zora: 13,626.2 ETH
Compared to Ethereum, L2 Superchain users saved a total of 142,429.6 ETH, or $431.59M, on txn fees this week.
The percentages are calculated by 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: Tools for Humanity’s World App passed 10 million users – and hit some other milestones:
⚡Why it matters: Most web3-based apps have not hit this level of adoption, especially within a 11-month time frame like World App did. The product signals that Tools for Humanity (TFH), which is the team building Worldcoin and the World App, is onto something.
Its road to adoption has been expedited as the team did marketing and growth campaigns globally to onboard users from cities ranging from San Francisco to Buenos Aires. As a result, it hit a new milestone with total users passing 10 million across over 160 countries, amplifying this isn’t just an app people just downloaded and forgotten about.
⚡What it means for the broader ecosystem: While milestones are great, the team is focused on “the real world impact it represents,” Tiago Sada, head of product at TFH, said.
A lot of projects in web3 haven’t brought in this much transactions or users. World App is a testament of what’s possible when the product is easy and simple, Sada added. One Kenyan X user also has bought a number of goats with the funds they received from a Worldcoin airdrop.
It’s also the most used project built on top of the OP Stack, according to daily usage data. As Worldcoin and its app continues to scale, it’s going to bring on new audiences from the mainstream web2 world as well as the web3 space.
⚡ TLDR: Onboarding takes time, but building a decentralized product that is easy to use, provides economic value to users and appeals to the masses in everyday life, is proving to be a success for TFH.
What’s poppin on the Superchain
👤This week’s total weekly active addresses on Superchain hit 2.3M.
👤Total number of weekly active addresses on:
Base: 1.31M (+19.8%)
OP Mainnet: 747.97K (+11.3%)
Zora: 229.35K (2.5%)
Warpcast rolled out some new app updates, including a priority feed for users to help simplify browsing
Mode Network is now live on Rubric, a rate finder tool for users and dApps looking to swap crypto
Reth AlphaNet is open sourcing its OP Stack testnet rollup to expand its performance and experimentation
Rollup-as-a-service Zeeve extended support to Superchain to help make development even easier
Season 2 of Crypto The Game, an on-chain survival game built on Base, continued into Day 9 with only 116 players remaining – and there has been a lot of on-chain activity between wallets👇
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
Why build on-chain? Jesse Pollak, Base creator, breaks down why it’s better
Modular L2 Camp Network joined the Superchain to make entertainment more engaging and accessible
Luke Youngblood, a contributor to Moonwell (built on Base and others), reflected on the open lending and borrowing app’s on-chain journey: check it out here
Tenderly put out an Optimistic Rollup Network Report highlighting its Q1 and on-chain activity growth
Velodrome’s Tour de OP continues on with MetronomeDAO, Extra Finance and Synthetix being top racers
🎙️Aerodrome, a trading and liquidity marketplace built on Base, is speaking on an X space on Wednesday, April 17 at 4pm UTC – set a reminder
🎙️ICYMI: Mode Network hosted a X spaces on its yield accelerator here and a chain interoperability panel here
For more Optimism Collective weekly updates, look here.
Making headlines
Worldcoin Adds Privacy Features as Regulators Crack Down on Project (Unchained)
Chainlink Transporter to Bridge Assets Across Ethereum, Optimism, Base and More (Decrypt)
Degen (DEGEN): The Community Currency of Social Network Farcaster (ByBit LEARN)
EIP-4844 impact on the Superchain: 99.5% L1 cost reduction (Optimism)
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.
Watch live demos from projects building on the Superchain here on Thursday, April 18 from 3-4PM UTC
April 2nd - May 14th
Fully remote participation
Prize Pool: $38,750
Apply to the Superchain App Accelerator on thirdweb
Wave1 of Worldcoin Foundation’s Community Grants Program is open for applications
Need Inspiration? Check out Optimism Collective Builder Ideas
To get this newsletter delivered to your inbox every Tuesday. Subscribe here.
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.