Assessing Optimism’s performance before and after ‘Optimism Quests’

For improved accessibility of its scaling solutions, Optimism on 20 September launched the “Optimism Quests.” Put simply, the initiative is to reward Optimism users with NFTs when they learn about popular applications deployed on the Layer 2 scaling solution and complete the quizzes and tasks that follow. 

A day after the launch of Optimism Quests, a surge in daily transactions on the network led to a 53% uptick in daily transactions on Optimism.

According to data from Nansen, the count for everyday transactions on Optimism on 21 September was 348,109. This represented the second-highest daily transactions count on Optimism so far this year.

The L2 scaling solution had, on 1 June, logged a daily transactions count of 487,814 transactions when it announced the airdrop of its native OP tokens. 

Source: Nansen

Optimism so far this month

According to data from Dune Analytics, four million transactions have been completed on Optimism in the last 25 days. The current transactions count represents a 7% decline from the total 4.3 million transactions registered by Optimism in August. 

With four days left till the close of the trading month and the sudden surge in daily transactions on the platform in the last few days, one might expect September’s transactions count to exceed that of August.

Source: Dune Analytics

The total number of addresses that have engaged the use of the L2 scaling solution so far this month stood at 180,200. The daily highest so far was on 23 September (49,400 addresses).

In August, the total number of active addresses on Optimism was 188,400. As a result of its botched airdrop in June, active addresses on the network in the 30-day period totaled 331,800. It has, however, fallen consistently ever since.

Source: Dune Analytics

The total fees paid to process transactions on the network is at the lowest it has been in five months. So far this month, Optimism has recorded a total transaction fee of 300.96 ETH. In May total fees paid to use the network was 1,700 ETH, as per data from Dune Analytics.

In addition to a fall in transaction fees on the network, the count of smart contracts deployed on Optimism since the beginning of the month was 15,940. Thus, representing a 273% decline from the 59,540 smart contracts deployed in June.

Source: Dune Analytics

According to data from DefiLlama, Arbitrum remains the largest L2 scaling solution with a total value locked (TVL) of $985.77 million. Optimism comes in second place with a TVL of $842.59 million.