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Rumors of ETH Layer-2 Optimism Upcoming Native Token Fuels Project’s Total Value Locked to All-Time High

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Is Optimism considering launching its native cryptocurrency?



Optimism, an Ethereum Layer-2 blockchain, has been recording significant milestones in recent times in less than a year since launching its mainnet.  

Optimism Hits New High in TVL

According to data on decentralized finance data provider DefiLlama, Optimism has reached a new all-time high (ATH) in total value locked (TVL). 

Optimism, an Ethereum Layer-2 blockchain
image source: https://defillama.com/chain/Optimism

Per the data, the network’s TVL soared as high as $531.22 million earlier today, suggesting a growing interest among cryptocurrency enthusiasts in the Ethereum Layer-2 blockchain. 

The massive surge in Optimism total value locked came from 30 different projects using the network to scale, including Synthetix, Uniswap, and Stargate. 

While there are 30 projects on the Optimism blockchain, Synthetix accounts for the majority of the total value locked, as the project has a 43.63% dominance over other protocols on Optimism. 

Upcoming Token Rumors

It is worth noting that the Optimism TVL has been up by 6.46% in the last 24 hours, which came about following rumors that the team behind the project is close to releasing its native cryptocurrency.  

Yesterday, the cryptocurrency community received reports that Optimism is developing its native token, which will be distributed to its loyal enthusiasts via airdrops. 

Aside from cryptocurrency users flocking to lock their assets on the various Optimism-related projects in a bid to become beneficiaries of the airdrop, the token prices of some of the tokens from these projects also recorded significant growth, with many soaring as high as 20%. 

Optimism teased its users by saying: “We’re nearing the end of a chapter and the beginning of the next — one driven by community ownership and governance.”

The rumors of a possible Optimism token issuance came hours after the project published reports of its outstanding growth over the past 12 months. 

Per Optimism, over the past 12 months, it has processed over $17 billion worth of transactions and has helped users to save over $1 billion in gas fees, among other developments. 

Twitters users seem optimistic about the recent development:

@Crypto_McKenna, olidity Developer and DeFi Advisor said:

“The Optimism Token (The good stuff) In Optimism’s recent medium posted they teased a ‘New Chapter’ one driven by community ownership and governance. I think we all know these hints towards Optimism launching their L2 Governance token in the coming weeks.

Token Distribution This is speculation but I think there will be a retroactive airdrop for two participants.

1 – Early bridgooors/protocol users

2 – Actual protocols deployed on Optimism Optimism aims to incentivise activity on their chain for the following reason.”

 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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