SuperchainERC20: Changing the way users and devs interact cross-chain
Optimism Weekly Overview - December 10, 2024
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $5.3B (+8.16%)
Assets onchain: $24.4B (+10.9%)
Daily average transaction volume: 10.7M (+0.93%)
Base: 8.0M (+3.61%)
OP Mainnet: 999K (+0.97%)
World Chain: 635.0K (-0.40%)
Lisk: 225.5K (+18.06%)
Mint: 190.6K (+10.05%)
Revenue-generating deployers on:
Base: 7,310 (-0.54%)
Zora: 122 (-8.95%)
OP Mainnet: 1,223 (+0.91%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 55,632 ETH
Base: 215,934 ETH
Zora: 2,784 ETH
Compared to Ethereum, L2 Superchain users saved a total of 274,350 ETH, or $977,871,192 on txn fees this week.
The percentages and metrics are pulled from the Superchain Health Dashboard and are calculated from its change over a 7-day time frame, unless noted otherwise.
Spotlight on Optimism’s Superchain
Highlighting some of the biggest updates on Optimism’s Superchain this week.
⚡What’s happening: Optimism introduced SuperchainERC20, an implementation of ERC-7802 designed to enable asset interoperability in the Superchain.
⚡Why it matters: SuperchainERC20 was introduced in August as an implementation of ERC-7802 for Superchain Interop-compatible ERC20 tokens. It's a simple extension of ERC20, adding a set of properties and an interface that enables ERC20 token fungibility across the Superchain.
The ERC-7802 standard was initially proposed by the OP Stack core contributors such as Wonderland, Uniswap Labs, and OP Labs with the goal to contribute to interoperability on Ethereum. Other layer-2’s on Ethereum can also adopt this standard as a scaling solution to facilitate network-wide interoperability.
The now-live implementation eliminates the current complex processes such as asset wrapping or liquidity pools. Instead, it allows tokens to move between chains efficiently to maximize capital efficiency and maintain a unified supply. This simplifies and transforms the user experience in the multi-chain ecosystem.
For dApp developers, the zero cost infrastructure for cross-chain deployment reduces barriers for innovation and enables faster adoption of cross-chain capabilities. It's recommended to deploy SuperchainERC20 for all new tokens launched on the Superchain in order to benefit from new features and from interoperable assets from day one Superchain Interop.
For example, features include permissionless propagation that allows developers to easily clone token contracts to new OP Stack chains while also maintaining security. Additionally, developers can also deploy tokens across all Superchain-compatible networks without additional infrastructure costs. Web3 users can move tokens across different chains, all while maintaining a unified supply.
⚡What it means for the broader ecosystem: SuperchainERC20 is one of the most important steps for establishing seamless interoperability within the Superchain and beyond. It enables the essential cross-chain communications for the Superchain to function as a unified ecosystem.
Once the Superchain Interop goes live, it will enable two-second cross-chain settlements, unified liquidity, and maximum capital efficiency. Its functionalities also ensure that tokens retain their global supply and value stability across networks, paving the way for a more efficient and connected blockchain environment.
Overall, the Superchain’s goals of interoperability and unifying liquidity have gotten closer with this update. The new value unlocked with this will enhance the experience of the ecosystem for builders and users. The ability to move freely between chains and access liquidity while maintaining a smooth and intuitive user experience represents a significant step forward for blockchain adoption.
What’s poppin’ on the Superchain
👤Total number of weekly active addresses by chain:
Base: 6.42M
OP Mainnet: 438.38K
Zora: 87.68K
Mode Network: 17.58K
Dimo, an onchain ride sharing app, shared it will migrate to Base in 2025
Routescan added Velodrome to its platform so users can view and analyze its onchain data transactions
Mode launched Synth, a network that utilizes AI to create artificially-generated data using algorithms
World’s mini apps on its World App is hitting multi-million metrics with 3.4M weekly World ID verifications
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
Boba Network shared a writeup of its December ecosystem updates
Base memecoin platform Clanker released a video showcasing its services
Agora was rewarded by Optimism governance in its latest Retro Funding round
Learn more about the Superchain with this educational video from Whiteboard Crypto
Read this thread by X user Farea about how to participate in the upcoming Lisk airdrop
Making headlines
QuarkChain Secures Optimism Grant for Fault Dispute Research (Blockchain Reporter)
What is data anonymization and how does it ensure privacy within World Network (World Blog)
Get into the OP Stack
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Check out Kroma’s Super Reward App campaign and enter for a chance to win up to 40K $OP
Build on Bitcoin is hosting an airdrop campaign for Superchain community members to explore its DeFi apps
Wyoming is launching a state-backed stablecoin and is searching for talented devs
Watch this educational video on the OP Stack from Whiteboard Crypto
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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.