Ethereum Layer-2, Optimism Officially Announced The Launch Of Its ‘OP’ Token

There are various criteria for addresses to be eligible for Optimism’s token airdrop as the team announces the launch of the ‘Optimism Collective’  token.

A few days ago, social media was buzzing, following rumors that the Ethereum layer-2 scaling solution is about to launch its governance token. Today, the rumors have been confirmed by Optimism; Optimism’s native token ‘Optimism Collective’ is launched with symbol OP.

Introducing the Optimism Collective: pic.twitter.com/PbQyBU1J6l

— Optimism (✨?_?✨) (@optimismPBC) April 26, 2022

The team writes on launch:

“Ethereum is ready for its next chapter. We are ready to scale not only Ethereum (the network), but also the values that thrust it onto the global stage in the first place. The Optimism Collective is here to reconstruct the incentives of the internet.”

Optimism further said that 5% of the total tokens would be allocated during the first airdrop round. The project’s team has already confirmed that about 265,00 wallet addresses are eligible for the airdrops. The Optimism announcement page revealed that 14% of the total tokens would eventually be airdropped. But the airdrops will be in various phases.

Hence, anyone who misses out on this first airdrop round can always be on the lookout for the next airdrop event. However, as stated on the announcement page, “the best way to become eligible for the airdrop is to be active in the Optimism ecosystem such as the developer team discord channel or the general discord channel.”

Eligibility criteria for OP airdrop

The team further confirmed that an address could be eligible for multiple airdrops so long such addresses meet the required criteria as stated on the airdrop eligibility section of the announcement page. In addition, Optimism said that while any addresses can be eligible for airdrops, only those making active contributions to the Optimism community will be eligible to become DAO voters. A particular eligibility criterion that stands out is the one for active users of Ethereum Dapps.

These users will be eligible for Optimism’s token airdrop because they have remained loyal to the Ethereum network when others have started bridging to other chains because of the enormous fees. As previously reported here on TheCryptobasic, the rumors of a possible token launch by this Ethereum layer-2 scaling solution caused a massive spike in the project’s TVL. However, time will tell whether the project’s TVL will continue increasing or not since the rumors are confirmed to be true.