Earlier this year, we declared a Summer of Optimism heralded by the launch of the Optimism Collective, the OP token, and the distribution of grants to projects aligned with The Optimistic Vision in order to kickstart the growth of the Optimism ecosystem.

Fast forward to the present, and we're beginning to see just that!

On-chain transactions are up, with OP Mainnet settling an average of 150k+ transactions per day over the last 30 days—up about 40% versus the prior 90 days.

Since 12 of 43 incentive programs have launched, over $700M has been bridged from L1 to OP Mainnet, a >600% increase vs the same time period pre-incentives.

An ecosystem is only as strong as the projects which compose it. Projects which have implemented their incentive programs have also seen a marked increase in inflows, liquidity, TVL, and transactions.

All in all, it’s safe to say the seeds planted this Spring are beginning to bear fruit. ✨

Just getting started

A total of 51,149,838 OP have been earmarked for distribution to date, including 42mm OP from the Governance Fund’s ~200mm allocation.

Of the 43 projects earmarked to receive this 51,149,838 OP during Optimism Governance Season 1, 12 have launched their incentives programs to date, with 31 more coming soon!

To help keep track of Optimism Ecosystem project incentive programs, we've created a public dashboard which we'll keep up to date. We've also added an 'OP Summer incentives' filter to the ecosystem page at optimism.io.

In summery

The incentives fueling OP Summer have only just begun to be distributed and utilized by projects in the ecosystem. Expect OP Summer to heat up even more as projects continue to utilize their allocations!

Meanwhile, in the world of governance, we’re entering Season 2, with many awesome improvements in the works. To stay up to date on and participate in Optimism governance follow @OptimismGov, check out the Governance forum, and don't forget to delegate your OP if you haven't already.

As you can see, there is massive potential for builders to stake their claim in the new, open internet. Just have a look at the projects which have already done so. Are you a project aligned with The Optimistic Vision? You can still apply for funding through governance.

If you're a brand new user, it's never too late to Get Started. If you're not sure where to begin, poke your head in our Discord and say hello!

Until then--stay safe, remain curious--and, as always, stay Optimistic! 🔴✨