Apologies for the delay here. We’ve been working to deploy more of the initial OP grant and wanted to show how well that’s working.
Regarding tBTC bridged, we are pleased to share the update that total to date is nearly 215.7 tBTC ($13.6 million at today’s price). Current supply is 70.5 tBTC on Optimism.
This Dune dashboard provides tBTC supply volume on Optimism, total bridged, volume aggregate charts, as well as TVL on Uniswap and Curve.
From the portion of the OP grant received, 28,000 OP have been distributed as liquidity incentives to date via Merkl protocol. These incentives have been very successful, especially at specifically targeting tBTC liquidity. The chart below demonstrates the growth in tBTC in the UniswapV3 tBTC/WBTC pool since the start of OP incentives.
The incentive distribution was weighted to incentivise fees/tBTC/WBTC in the ratio 20/60/20, which has also supported an increased volume of trading activity in the pool.
Given Uniswap is where we’re incentivising, we note that the tBTC pool shown above ($4.1M) is more than 4 times larger than the current sBTC/wBTC Curve pool ($975k).
We’re also excited to share that Chainlink recently started a tBTC price feed, which we expect to be an unlock for an integration with one or more derivatives protocols.
Please let us know if any questions; thank you!