Rapid Insights: Optimism Sees Boosted Activity With Optimism Quests

Optimism saw a recent spike in on-chain activity over the past week, peaking at nearly 800,000 transactions per day, equivalent to 9 tps. It also saw a steady increase in daily users, with an average of 67,000 users over the past week, as of this writing. The spike in these figures also corresponded to an uptick in the price performance of OP, Optimism’s native governance token. 

The main bulk of the interactions seems to stem from Galxe, Perp, Velodrome and Pika Protocol. Galxe is an on-chain credential protocol where users can mint certain NFTs after completing certain tasks. Perp and Pika Protocol are decentralized perpetuals exchanges and Velodrome is a decentralized spot exchange. Interestingly, the growth in transactions appears to be strongly correlated across these applications, indicating a possible causality between them.