GM
Welcome to Issue #32 of Dune Digest
We kicked off this week by sharing some very exciting news…….
v2 represents a complete overhaul of our data platform, leveraging Apache Spark for vast performance improvements.
It’s going to take Dune Wizards to the next level of skill and power. We can now look forward to:
10x performance
Multi-chain queries
User generated tables
Community / 3rd party datasets
Previously impossible dashboards
New chains integrated faster
And much more……..
Dune CEO Fredrik Haga has this to say about the launch:
“While maybe not obvious to the casual observer it's hard to overstate how much of a game changer this is for blockchain data. The new engine will enable a whole new world of speed, convenient cross chain queries, community contribution of data, flexible and performant APIs and more!”
This is going to lay the groundwork for our future vision for Dune, and contribute to the general accessibility and sophistication of crypto data analysis - watch this space!
Read more about it in our docs, and this blog post.
Now, let’s get into the data for the week……..
$OP Drops
This week the much anticipated $OP airdrop went live. Let’s review the key stats, through @hildobby’s Op Airdrop dashboard.
Out of almost quarter of a Million eligible addresses, 50.18% claimed the drop:
5% of the total $OP supply was dropped - 214,748,365.
138,374,449 was claimed - 64.48% of the total airdrop.
There was some pretty intense trading activity from the start, which we can look into with a dashboard by @springzhang.
The drop went live on Tuesday - and there was tens of millions of dollars worth of trading on the 31st alone.
This continued into Wednesday before ebbing over the past 2 days:
The massive volume soon after the drop has raised some controversy, with some in the community arguing that the immediate dumpers should be excluded from future airdrops. Check out how the price tanked:
Not everyone was a dumpoooor though.
A dashboard by @Marcov shows that over 33.5 Million $OP - over 20% of the total claimed - has been entrusted to 8,091 delegates.
To learn more about governance, also take a look at this Op Token House dashboard created by Optimism themselves.
Since we’re on the topic, let’s take a look at another side of Optimism…….
Optimistic NFTs
Most of us are old enough to remember: if you wanted an NFT, you got it on Ethereum.
While it’s still #1, there’s growing competition for NFT minting and trading on alternative L1s as well as L2s, like Optimism.
Will any of them become the dominant chain for NFTs? It’s still early days, and impossible to say - but the user experience and low fees are certainly appealing to many.
This week @danner_eth released an interesting dashboard breaking down the NFT market on Optimism. Let’s look at the key facts.
There are two NFT marketplaces on Optimism - Quixotic and Tofu. Quixotic is solely on Optimism, whereas Tofu is multi-chain. Right now Quixotic is far ahead with more than 15x the volume:
The top projects are an interesting mix. In first place we have OptiPunks, in second Dope Wars Hustlers, and in third Optimistic Apes. Check out the volumes:
NFT activity on Optimism is still relatively miniscule, but it’s growing nicely over the past few months. There was a particularly noticeable spike on Wednesday:
Check out the full dashboard for more, and also take a look at this Quixotic dashboard by @mslib7 for additional data on the marketplace.
Which Chain is King?
In Dune’s early days, we solely worked with Ethereum data. One of the reasons was that there wasn’t a whole lot going on anywhere else, in terms of DeFi & Smart contract experiments at least.
Now though it’s a different world, a multi-chain world. We added Optimism, Polygon, BNB, Solana and more so Dune Wizards could expand their investigations and analysis.
One of the most exciting things about v2 is that it will take this to the next level, by enabling deeper multi-chain analysis. We’ve got a cool example already, a new dashboard by @springzhang Cross Blockchain Comparison.
The dashboard looks at all currently supported chains: Ethereum, BNB Chain, Gnosis Chain, Optimism, & Solana.
Total transactions on all chains is at 19.78 Billion!
The transaction breakdown:
#1 Solana: 15.49 Billion
#2 BNB: 2.71 Billion
#3 Ethereum: 1.74 Billion
#4 Gnosis Chain: 87.67 Million
#5 Optimism: 9.86 Million
This visualization shows how Solana is far ahead in the number of transactions processed daily:
But, this is somewhat deceiving, since the majority of Solana transactions are votes by validators rather than value transfers.
How about users?
It has been around the longest, and Ethereum is way ahead with 144.87 Million total users:
On all the chains combined, we see 212.22 Million total users - as many as the population of Brazil!
When we look at the daily user counts over the past 30 days, we can see that things are a lot more balanced for the big 3, with Solana leading on daily users since overtaking BNB in mid May:
Another interesting metric is daily new users. BNB has seen a lot of new users over the past few months, Ethereum has also performed well - and Solana is a little behind:
How times have changed indeed. The multi-chain world is here, and we’re here to help you understand it and make the most of it. Check out the full dashboard for more.
Goblintown takeover
If you’ve been on Crypto Twitter over the past week you may have noticed a series of rather unpleasant looking Goblins filling up your feed.
You can thank Goblintown, an NFT collection that launched a few weeks back and was proud of having “No roadmap. No Discord. No utility.”
The meme-driven ethos of the project plays off the current slump in both prices and general mood in the industry, but despite that Goblintown is defying talk of a bear market.
A dashboard by @cgq0123 explains how…..
On May 22nd, floor price was at 0.23 $ETH - but over the past couple of weeks it shot up, along with volume, and now sits at 6.8!
All time volume is 24,628 $ETH - and 4,535 holders have grabbed an average of 2.2 Goblins.
An impressive performance from humble beginnings. When you look at the crossover in the dashboard, you can see that a lot of seasoned collectors got in on this one!
Check out the full dashboard for more.
Pooly NFTs
PoolTogether is a well-established “decentralized lottery” platform, allowing users to stake assets in lottery pools for a chance to win the yield earned from the entire pool.
Recently, they have become the defendant in a class action lawsuit.
Reaching out to the community for support, they released Pooly NFTs - so that anybody who supports their cause can do so by minting one.
How have they done so far? A dashboard by @0xbills explains all.
So far Poolys have raised 611 $ETH - $1,125,759….. 3,035 minters have helped the platform to achieve 82.65% of their goal.
It seems like they have received a lot of support from seasoned and veteran Ethereum users - but a quarter of buyers were noobs with under 40 transactions, and for 58 of them it was their first ever transaction:
With 19 days still left for the mint, it looks likely that they will reach their goal. An interesting demonstration of the community coming together to support each other voluntarily - check out the full dash.
More Dashboards:
GN
Thanks for reading, and thanks to all the talented, intelligent and probably good looking Wizards who contributed their creations over the past week.
See you next time.
The data must flow.