Optimism Network to Sell 116 Million OP Tokens: What It Means for Ethereum
Learn about Optimism network's sale of 116 million OP tokens and its impact on Ethereum. Find out how this layer-2 scaling solution is shaping the future of blockchain.
Posted 10 months ago in Ethereum
The
Optimism network has announced its plan to sell 116 million OP tokens to seven private buyers for treasury management purposes. This sale, which amounts to $159 million, will not have a significant impact on the price of OP tokens as it is a private sale. The tokens are sourced from the unallocated portion of the OP token treasury and are subject to a two-year lockup period. However, buyers can delegate the tokens for governance purposes.
Optimism is one of the leading layer-2 scaling solutions on the Ethereum network, along with Polygon and Arbitrum. In August, Optimism surpassed Arbitrum in terms of total transactions due to increased activity from Coinbase's sandbox and the Worldcoin identity verification project.
This sale is part of Optimism's original plan and is accounted for in its working budget. Just two days prior, Optimism conducted its third airdrop, distributing 19.4 million OP tokens to participants in the network's decentralized autonomous organization (DAO), Optimism Collective.
Last updated 9/21/2023, 5:11:05 AM
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