With the ARB token launch, the top two rollups that settle on Ethereum — Arbitrum and Optimism — have both begun spinning their incentive flywheels.
Quite clearly, these rollups are starting to find real traction. Rollups have already established themselves as a lucrative option for dApps that want Ethereum’s security guarantees without having to burden their users with high tx costs.
Arbitrum’s usage has been popping off — expectedly so. And though Optimism’s realized throughput has been lower the last couple of months, there’s still excitement around products being developed in the ecosystem.
Kwenta, a trading platform powered by Synthetix on Optimism, has been able to clear $100M in daily volume routinely. And this coincides with the lull in Optimism’s realized throughput. This is just one example of what Optimism is helping facilitate.
Between high-level data indicating usage growth on rollups and new project launches aggregating on these L2s rather than the Ethereum base layer, I can’t help but have this eerie feeling that we are close to the cusp of the “exciting” part of the L2 growth cycle.
The above charts were sourced from Dune Analytics.