OP Stack Networks Handled 66.8% of Ethereum L2 and L3 Transactions

Optimism’s OP Stack accounted for a transaction-weighted average 66.8% of Ethereum Layer 2 and Layer 3 transactions from January through September, putting the framework behind most activity on those networks.

The 66.8% figure is a transaction-weighted average of the monthly shares across the period. The share ranged from 60.7% in March to 76% in June. OP Stack chains averaged 908 million transactions a month, including both successful and reverted transactions.

Gross transfers of USD-pegged stablecoins totaled $35 trillion over the nine months, excluding mints and burns. The figure measures transfer value; it does not show net stablecoin supply or distinguish payments from other activity.

At September’s end, the networks had $8.2 billion in stablecoin supply, $7.5 billion in assets active in DeFi protocols and $22.2 billion in total value secured. The secured-value measure includes assets protected by bridges and other assets held on rollups, so it covers more than DeFi assets alone. The distinction between total value secured and DeFi TVL matters when comparing the $22.2 billion figure with the $7.5 billion in active DeFi assets. Applications on OP Stack chains retained $227 million in revenue from January through September, excluding chain fees.

The OP Stack is an open-source framework for building Ethereum Layer 2 chains. Teams can operate their own chains, use OP Enterprise’s managed infrastructure or build applications on OP Mainnet, a shared chain in the ecosystem. World, Unichain and Soneium run their own OP Stack chains, while Ink uses OP Enterprise. Applications on OP Mainnet include Morpho, Velodrome and ether.fi Cash.

These chains operate independently, and moving assets between them requires a bridge. A planned interoperability upgrade initially targets OP Mainnet and Unichain.