Superchain expands with Synthetix’s launch of governance-focused SNAXchain
Optimism Weekly Overview - September 10, 2024
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $2.42B (-6.8%)
Assets onchain: $12.19B (-4.1%)
Daily average transaction volume: 5.59M (-8.9%)
Fraxtal: 7.63K (-52.04%)
Mode: 106.96K (-10.73%)
Base: 4.14M (-2.82%)
Zora: 108.14K (+12.20%)
Redstone: 2.25K (-69.09%)
OP Mainnet: 659.62K (+8.63%)
Kroma: 198.14K (-73.11%)
Revenue-generating deployers on:
Base: 4,585 (-0.11%)
Zora: 167 (-2.91%)
OP Mainnet: 1,099 (+0%)
Superchains: 5,301 (-0.26%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 5,798 ETH
Base: 23,165 ETH
Zora: 1,026 ETH
Compared to Ethereum, L2 Superchain users saved a total of 29,989 ETH, or $70.28M 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
⚡What’s happening: Derivatives and liquidity protocol Synthetix’s newly launched SNAXchain, a layer-2 blockchain (L2) built on the OP Stack, will join the Superchain.
⚡Why it matters: The launch of SNAXchain aims to enhance the Superchain ecosystem by integrating governance processes into its own chain.
Synthetix hopes this can reduce network congestion on various L2s that are built on the OP Stack, streamlining operations for both its chain and others within the overall Superchain ecosystem. This can drive a more scalable, efficient ecosystem that utilizes decentralized governance systems to operate different protocols across multiple layers without one centralized power.
SNAXchain will utilize Wormhole to provide cross-chain messaging for chains within the Superchain, which in turn could improve communication between SNAXchain, OP mainnet, and the core Ethereum L1 chain.
⚡What it means for the broader ecosystem: SNAXchain aims to foster interoperability across other L2 chains that are a part of the Superchain, such as Base, Mode, and Zora.
If SNAXchain can facilitate liquidity flow and governance interactions across the ecosystem, it can potentially strengthen the Superchain’s overall connectivity, in turn encouraging new projects to leverage this infrastructure for efficient cross-chain functionality.
This can showcase how the Superchain can facilitate specialized functions like onchain governance, while improving cross-chain interoperability and enhancing overall network efficiency.
The introduction of systematic governance has the potential to increase the Superchain’s utility, appeal, and decentralization, which in turn can attract more developers and users to the ecosystem.
What’s poppin’ on the Superchain
👤Total number of weekly active addresses by chain:
Base: 5.1M
OP Mainnet: 364.51K
Zora: 121.17K
Mode Network: 12.41K
Arena-Z launched its L2 network, built on the OP Stack, to testnet with a focus on empowering indie game devs and studios
OP Labs’ Software Engineer Hamdi Allam showcased Supersim, a tool designed to make dApp testing and development easier
Gelato released its 1-Click Native Oracle Module to make L3 deployments the OP Stack more latent
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
ICYMI: OP Labs’ Co-founder Mark Tyneway gave his insights on 1-Click Oracle Modules on the OP Stack
Mint shared its Forest Expedition campaign, recapping the team’s vision and community activation to “plant more trees onchain”
X user skygecko_ created a thread that dove into Lisk, a developer-centric L2 part of the Superchain
Learn more about the Superchain and OP Stack in a post written by X user eli5_defi
Making headlines
Scaling Base: Looking towards the upcoming Pectra upgrade (Base on Mirror)
Summer never ends – a recap of Onchain Summer (Base on Mirror)
Synthetix develops own blockchain on Optimism's Superchain infrastructure (The Block)
Get into the OP Stack
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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.