Messari report alleges Optimism growth is inorganic

2 years ago

Blockchain analytics steadfast Messari released a study alleging that the maturation of Ethereum Layer2 web Optimism (OP) is inorganic,

There is grounds that @OptimismFND's maturation is inorganic.

Optimism’s transacting addresses grew sharply from ecosystem incentives but fell disconnected successful caller weeks. @Arbitrum has managed accordant progressive idiosyncratic metrics without offering immoderate incentives for web usage. pic.twitter.com/Rfilc3FPhr

— Messari (@MessariCrypto) August 29, 2022

According to the blockchain analytics firm, grounds suggests that Optimism’s transacting code emergence was fueled by incentives successful its ecosystem arsenic the fig of these addresses has fallen massively successful caller weeks.

On the different hand, Arbitrum, a rival l2 network, has shown accordant idiosyncratic metrics maturation contempt not offering immoderate incentives for utilizing its network.

Data shared by Nansen expert Sandra Leow confirmed that Arbitrum’s unsocial addresses bushed Optimism’s wrong the past 30 days.

Interesting to ticker Arbitrum's unsocial progressive addresses proceed to grow.

While Optimism is inactive starring by the wide no. of txns, Arbitrum dominates successful presumption of unsocial progressive addresses.

Source: @nansen_ai query pic.twitter.com/T5LSgkIlC4

— sandra leow (@sandraaleow) August 30, 2022

According to Leow, Optimism inactive has the highest wide fig of transactions.

Insights into Optimism’s and Arbitrum’s unsocial addresses

Unique daily addresses connected Optimism peaked astatine 456,227 connected April 27, erstwhile the Layer2 web launched its autochthonal OP token.

In the past 7 days, unsocial regular addresses connected Optimism ranged betwixt 1000 to 2000.

On the different hand, Arbitrum saw the largest regular summation successful unique addresses successful precocious June 2022, with 55,993 addresses.

Arbitrum has averaged implicit 2000 unsocial regular addresses successful the past 7 days. The Layer2 saw 5276 caller addresses interact with its web connected August 27.

Optimism Vs. Arbitrum

According to information connected DeFiLlama, the full worth of assets locked (TVL) on Optimism currently stands astatine $915.7 million, portion that of Arbitrum is $948.66 million.

According to Messari data, OP rewards for Aave users helped treble Optimism’s TVL to adjacent the spread with Arbitrum.

A look astatine the outgo of transactions connected some networks showed that it is cheaper to transact connected Optimism versus Arbitrum. According to L2beats, an mean transaction connected Optimism costs $0.06, portion connected Arbitrum the mean outgo is $0.11

Optimism’s full gross successful the past 30 days has dropped 4.64% to $585,000, portion that of Arbitrum fell 4.84% to $681,000.

Arbitrum readying upgrade for August 31

Arbitrum is acceptable to acquisition its “Nitro” upgrade connected August 31.

According to disposable information, the upgrade is designed to summation its throughput and trim transaction fees portion improving cross-chain connection betwixt the l2 and Ethereum.

According to the team, determination would beryllium a planned downtime lasting up to 4 hours, starting astatine 10:30 AM Eastern Time.

Reminder — Arbitrum One is upgrading to Nitro connected Wednesday 8/31.