Optimism has launched OP Token with AirDrop for early users – The Defendant
Layer 2 season is upon us.
Optimism, a Layer 2 (L2) network designed to scale Ethereum by performing transactions outside the main chain, is launching “Optimism Collective”, a bipartisan governance system that will work to increase network demand.
One of the two cells in the aggregate will be powered by Optimism’s new OP token, which will be airdrop to early users. Qualifying activities include early or frequent transactions on optimism, and activities unrelated to L2, such as Gitcoin grants, which facilitate public goods funding.
Token House, the token-administered branch of government, was told it would be able to vote on “protocol upgrades and project incentives as part of the Governance Fund,” the hopeful post outlined the new governance system.
Users interested in seeing if they are eligible for the drop can check here.
The Defiant published a guide to optimism last year warning our readers about potential airdrops.
Civic house
The second house, known as Citizens House, will be operated by optimistic “soulbound” NFTs. This means non-transferable NFTs, which means the token will act as a somewhat decentralized identity in terms of optimism.
Citizen House will be tasked with distributing “returning public goods”, some optimism has been working for some time. This branch of government will be live after 2022.
“Probably the biggest effort of the non-token-holder-centric DAO regime so far. Excited to see where it goes.”
To guide the process, Ashabad is launching the Ashabad Foundation, which will “act as the steward of the coalition.” According to the launch post, the Ashabad Foundation will gradually dissolve and pass on its governance functions to the community. This method of gradual decentralization has been championed by projects such as MakerDAO, whose foundations were dissolved last July.
TVL at ATH
226,000 ETH ($ 655M), the amount of ether has gone up to the all-time high of Optimism as of 26 April.
The optimism outlines that there will be a “full season of airdrop”, instead of one. In light of this, the amount of ETH locked in L2 will increase as users interact with the protocols built into the network in the hope of getting the next OP airdrop.
In fact, as part of this first airdrop, 5% of the total OP supply has been allocated, according to a token allocation chart, another 14% OP supply will be provided in the future.
If it manages to drive more users into its network, Optimism’s token launch could potentially put pressure on other L2s, such as Arbitrum.
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