Key Takeaways
- Optimism’s OP token is stay.
- A portion of the OP provide has been distributed to eligible addresses by way of an Ethereum airdrop, with extra airdrops to comply with sooner or later.
- The OP token varieties a part of what Optimism is asking “the Optimism Collective,” the group that can govern the way forward for the Layer 2 community.
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It’s the primary of a number of deliberate OP token airdrops.
Optimism Goes Reside With Airdrop
Optimism’s OP token is stay on Ethereum.
The Layer 2 scaling community launched its new token after a lot anticipation late Tuesday. As is commonplace follow within the crypto ecosystem, Optimism initially distributed OP by way of an airdrop to a choose variety of eligible addresses. Early Optimism customers had been rewarded, together with those that met different standards corresponding to having used bridges to maneuver tokens off Ethereum mainnet or donated to Gitcoin inside a set timeframe.
Early hints of right this moment’s launch first surfaced when Bybit, MEXC, and different exchanges introduced plans to open OP spot buying and selling imminently. The Optimism workforce additionally surfaced on Twitter this afternoon to share a cryptic message with the group. “sup nerds,” it read.
Optimism first launched OP in April when it unveiled “the Optimism Collective.” It defined that the collective could be an “experiment in digital governance at scale” with OP serving because the Optimism group’s token for governing protocol upgrades, undertaking incentives, and different points of the community. Whereas the workforce initially allotted 5% of the 4.29 billion provide to the primary airdrop, it promised that there could be “a whole season of airdrops” dipping into an additional 14% of the entire provide. To date, it’s but to announce particulars of any additional airdrops.
Optimism is one in every of a number of tasks working to assist Ethereum scale by constructing out the community’s Layer 2 ecosystem. It achieves this by leveraging Optimistic Rollups, a type of cryptographic expertise that bundles transactions collectively to cut back the visitors load on Ethereum mainnet. Together with ZK-Rollups, Optimistic Rollups present in tasks like Optimism provide a approach to make use of Ethereum at the next pace and decrease value with out sacrificing the Layer 1 community’s safety.
OP is anticipated to play a significant function within the Layer 2 ecosystem as its holders will basically have the facility to resolve how the community’s future will look. Notably, in a transfer not seen in different prior Ethereum airdrops, Optimism can be planning to difficulty non-transferable “soulbound” tokens to members of the Optimism Collective. The workforce has dubbed OP recipients as members of the “Token Home,” whereas the soulbound tokens will go to members of the forthcoming “Residents’ Home.” Collectively, these two factions will type a bicameral system to manipulate Optimism’s future.
At press time, value information for Optimism’s OP token was not but out there.
Disclosure: On the time of writing, the creator of this piece owned ETH and a number of other different cryptocurrencies.
