{"id":73132,"date":"2023-01-26T19:28:14","date_gmt":"2023-01-26T17:28:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73132"},"modified":"2025-09-09T12:24:18","modified_gmt":"2025-09-09T09:24:18","slug":"on-chain-activity-on-the-optimism-network-collapses-after-nft-incentive-program-ends","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/on-chain-activity-on-the-optimism-network-collapses-after-nft-incentive-program-ends\/","title":{"rendered":"On-chain activity on the Optimism network collapses after NFT incentive program ends"},"content":{"rendered":"<p>Daily transaction volume on the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">layer-2 network<\/a> Optimism <a href=\\\"https:\/\/optimistic.etherscan.io\/chart\/tx\\\">fell<\/a> to 238,000 from a recent 800,000. The drop coincided with the end of the Optimism Quest NFT user incentive program.<\/p>\n<p>In <a href=\\\"https:\/\/www.theblock.co\/post\/205799\/on-chain-activity-on-optimism-drops-after-end-of-nft-incentive-program\\\">The Block Research<\/a> noted that the spike in activity on the platform also coincided with rumors of a second project airdrop. In June 2022 the Optimism team <a href=\"https:\/\/u1f987.com\/en\/news\/optimism-team-carried-out-airdrop-of-native-token\">distributed the native OP token<\/a> among 232,000 users and hinted at a forthcoming repeat of the event.<\/p>\n<p>According to researchers, during the Quest, users minted over 3.4 million NFTs.<\/p>\n<p>Earlier, the network <a href=\"https:\/\/u1f987.com\/en\/news\/optimism-l2-protocol-surpasses-arbitrum-in-daily-transaction-volume\">surpassed<\/a> Arbitrum in terms of daily activity. However the latter remained ahead in the volume of assets locked.<\/p>\n<p>Arbitrum participated in a Starbucks-backed <a href=\"https:\/\/u1f987.com\/en\/news\/starbucks-to-unveil-web3-initiative\">NFT loyalty program<\/a> Odyssey. However the project has not yet distributed tokens, unlike Optimism.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8216;The growth in network activity serves as a reminder that speculation about a potential airdrop can sometimes drive metrics higher, as in the Odyssey case for Arbitrum,&#8217; commented The Block analyst Arnold Toh.<\/p>\n<\/blockquote>\n<p>Despite the drop in on-chain activity, the OP token price hit a new all-time high on January 25. The quotes reached $2.50, up 485% from the 2018 lows (<a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/optimism\\\">CoinGecko<\/a>).<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh3.googleusercontent.com\/F_uCpnnz2Ih6YO4s4E-qHBYsdQlZ2vcwJPNR8bRnTRWIvyIlWeYpq7IL7m57PMgt5Hczi8pnkLmzKz6L3oORupPAQiJ9OC1Jz9cY3IwTyfZWrLvIZWv2vvorSZAbtFeBRsfrvlH-wYA5jJX1xLsRoLediAmiNtjSZdJHIL3xBaHjme9yLL-uesPNHVITdQ\\\" alt=\\\"On-chain activity on the Optimism network collapses after NFT incentive program ends\\\"\/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>As reported in ForkLog&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/optimism-l2-protocol-surpasses-arbitrum-in-daily-transaction-volume\">analytical report<\/a> on the rise of L2 solutions in 2022.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daily transaction volume on the Optimism layer-2 network fell to 238,000 from a recent 800,000. The drop coincided with the end of the Optimism Quest NFT user incentive program.<\/p>\n","protected":false},"author":1,"featured_media":73133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1179,1362,277],"class_list":["post-73132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-layer-2-solutions","tag-optimism-op","tag-scaling"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73132"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73132\/revisions"}],"predecessor-version":[{"id":73134,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73132\/revisions\/73134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73133"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}