Ethereum Layer 2 Optimism Launches Token Airdrop

Vital Takeaways

  • Optimism’s OP token is reside.
  • A part of the OP supply has been dispersed to qualified addresses by using an Ethereum airdrop, with a lot more airdrops to observe in the upcoming.
  • The OP token kinds element of what Optimism is calling “the Optimism Collective,” the community that will govern the future of the Layer 2 community.

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It is the first of numerous planned OP token airdrops. 

Optimism Goes Are living With Airdrop 

Optimism’s OP token is live on Ethereum. 

The Layer 2 scaling community introduced its new token right after much anticipation late Tuesday. As is regular apply in the crypto ecosystem, Optimism originally dispersed OP by means of an airdrop to a choose amount of qualified addresses. Early Optimism people were rewarded, together with those who satisfied other requirements these kinds of as getting employed bridges to transfer tokens off Ethereum mainnet or donated to Gitcoin within a set timeframe. 

Early hints of today’s launch to start with surfaced when Bybit, MEXC, and other exchanges declared options to open up OP location trading imminently. The Optimism workforce also surfaced on Twitter this afternoon to share a cryptic concept with the group. “sup nerds,” it study.

Optimism first introduced OP in April when it unveiled “the Optimism Collective.” It defined that the collective would be an “experiment in digital governance at scale” with OP serving as the Optimism community’s token for governing protocol upgrades, undertaking incentives, and other areas of the network. While the staff at first allocated 5% of the 4.29 billion source to the initial airdrop, it promised that there would be “an full time of airdrops” dipping into a further 14% of the overall supply. So much, it is however to announce specifics of any additional airdrops. 

Optimism is one of many projects functioning to assistance Ethereum scale by making out the network’s Layer 2 ecosystem. It achieves this by leveraging Optimistic Rollups, a kind of cryptographic technological innovation that bundles transactions jointly to lessen the targeted traffic load on Ethereum mainnet. Along with ZK-Rollups, Optimistic Rollups uncovered in assignments like Optimism give a way to use Ethereum at a higher pace and lower price tag without sacrificing the Layer 1 network’s safety. 

OP is envisioned to enjoy a very important function in the Layer 2 ecosystem as its holders will basically have the power to make your mind up how the network’s potential will glance. Notably, in a go not noticed in other prior Ethereum airdrops, Optimism is also organizing to situation non-transferable “soulbound” tokens to associates of the Optimism Collective. The team has dubbed OP recipients as users of the “Token Home,” when the soulbound tokens will go to members of the forthcoming “Citizens’ House.” Collectively, these two factions will kind a bicameral program to govern Optimism’s long run. 

At press time, selling price info for Optimism’s OP token was not nevertheless offered.

Disclosure: At the time of writing, the writer of this piece owned ETH and a number of other cryptocurrencies. 

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