Worldcoin’s Launch Propels Optimism to Record-Breaking Daily Transaction Volume

Worldcoin’s Launch Propels Optimism to Record-Breaking Daily Transaction Volume

The Ethereum layer two (L2) network, Optimism, is reaping the benefits from Worldcoin’s (WLD) debut as the token integrated with the L2 blockchain before its introduction. As of 11:03 a.m. Eastern Time on Friday, archived records show that 285,527 distinct addresses possess WLD, and thus far, WLD has recorded 887,482 transactions. As a result, Optimism’s daily transfers have soared to new levels. For example, according to Dune Analytics data, Optimism’s daily transactions reached 808,942 transfers on July 26, 2023. Transacting on Optimism is significantly more cost-effective compared to Ethereum. Currently, the average transfer fee on Optimism stands at $0.334 per transaction. Meanwhile, Ethereum’s average cost exceeds $2 per transfer. Initially, WLD was slated to be hosted on Ethereum; however, the Worldcoin team announced Optimism integration shortly before the token’s launch. Although Optimism has yet to surpass Ethereum’s daily transaction rate, its L2 counterpart Arbitrum did outpace Ethereum last February. Arbitrum’s transaction growth was propelled by soaring Ethereum fees that month. Similar to how WLD tokens boosted Optimism transactions, Arbitrum’s native cryptocurrency launch also helped drive its daily transfers to record-breaking heights.