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.
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Superchain Ecosystem Numbers
DeFi Total Value Locked (TVL) across Superchain: $3.21B (+10.4%)
Assets onchain: $13.81B (+3.7%)
Daily average transaction volume: 2.77M (-15.3%)
Fraxtal: 6.34K (+133%)
Mode: 213.27K (-21.3%)
Base: 1.88M (-17.5%)
Zora: 97.59K (-6.8%)
Redstone: 54.43K (-47.9%)
OP Mainnet: 472.9K (-5.3%)
BOB (Build on Bitcoin): 49K (+300%)
Revenue-generating deployers on:
Base: 5,673 (-4.4%)
OP Mainnet: 1,039 (-1.05%)
Superchains: 6,391 (-4.01%)
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 $505.15M 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: The Superchain is seeing increased developer and user interest with over 4 million daily transactions during April and May and its total number of revenue-generating developers up about 10% month-over-month, according to an X post by Optimism. Base has 5,660 revenue-generating deployers and OP Mainnet has over 1,000, OPLabs data on Dune showed.
⚡Why it matters: Base, which is built on OP Stack, has seen extreme momentum in recent months and is trying to grow that metric even further. Earlier this month, it launched Onchain Summer II with Optimism to provide developers, users, builders and creators rewards for contributing to the Superchain. The initiative, along with others, will help scale the ecosystem as more turn to it for opportunities. Optimism also launched deployment rebates, which allows developers to launch an app on the Superchain, for “effectively free,” or 0.05 ether per developer.
⚡What it means for the broader ecosystem: What’s good for Optimism, may not be good for other blockchains. During the same month-over-month time frame, other Ethereum-based layer-2 blockchains like Polygon and Arbitrum saw revenue-generating deployers decrease by 4.5% and 2.3%, during the same time frame, respectively. This could mean more developers are moving to build on Superchain-based networks like Base as its market and userbase grows.
⚡ TLDR: The Superchain is gaining significant developer market share as incentives like Onchain Summer II, rebates and Retro Funding 4 incline builders to join its network.
What’s poppin’ on the Superchain
👤Total weekly active addresses on Superchain was about 1.9M.
👤Total number of weekly active addresses by chain:
Base: 1.19M
OP Mainnet: 540.92K
Zora: 156.47K
Mode Network: 46.52K
Farcaster raised $150 million at $1 billion valuation in a round led by Paradigm
Bridge to and from anywhere in the Superchain through Super Bridge App and Bridgg — more details here
CyberConnect mainnet launched on Wednesday to help bring more decentralized social apps on the Superchain
Bello launched its integration with OP Mainnet to help analyze and understand audience behaviors through users’ wallets
Caldera announced its support of the Superchain, so developers can leverage its roll-ups-as-a-service (RaaS) platform to deploy OP Stack rollups
Redstone Worlds Expo brought in 3.6M transactions, 8 onchain games on its mainnet and more, full details here
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
About 1 million of Uniswap’s 3.4 million monthly active users came from Base, making it the “biggest contributor to Uniswap’s growth,” Token Terminal data showed
OP Governance Season 6 is coming in June to help optimize support on the Superchain, read the guide here
Check out Redstone’s Q&A discussion with Optimism co-founder Ben Jones
Ethereum co-founder Vitalik Buterin gave a shout out on X to Farcaster, adding to “Never lose sight of the ultimate goal: to build a free and open internet that is also trustworthy”
Farcaster is decentralizing its channels, co-founder Dan Romero shared on X
“Channels will be onchain and sovereign, similar to user accounts. If you build a community, the membership is yours, not a centralized platform,” Romero said
For more Optimism Collective weekly updates, look here.
Making headlines
Listen in: Coinbase's Ethereum L2 Strategy Explained (Pluid on YouTube)
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.
Join the Token Relations’ quarterly webinar focused on Superchain Growth on May 31 from 1-2pm EST. Sign up here.
Onchain Summer II Buildathon takes place from May 31st to June 30th, submit your project here
Set a reminder for The Pixel Show on Base on Thursday May 23 at 11 am EST
Missed the most recent Superchain Demo Day? Watch the recording here
Or listen in to the next Superchain Demo Day on Thursday May 23 11 am EST here
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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.