The Optimism Foundation Marks the Start of a Private Sale for OP Tokens Worth $89 Million

Operating within the Ethereum Layer 2 framework, the Optimism Foundation has initiated a sale of approximately 19.5 million with an estimated worth exceeding $89 million. Optimism The tokens involved will have a two-year lockup period, but during this timeframe, buyers can delegate them for governance voting to unrelated third parties. The announcement states that these tokens originate from the unallocated OP token treasury and account for 30% of the founding OP token supply, which is part of the Optimism Foundation's initial operational budget.

In the coming days, a variety of transactions associated with the private sale will be executed, with public visibility of the OP token supply ensured for transparency.

Previously, the Optimism Foundation carried out a private offering of its tokens, successfully selling 116 million OP tokens and achieving a valuation that exceeded $160 million last year.

In recent trading activity, the price of Optimism’s OP token saw a nearly 3% increase within a 24-hour period before dipping slightly. As of this moment, OP is listed at $4.57, based on CoinMarketCap information.

Stay informed about cryptocurrency distributions with our

The Optimism Foundation plays a supportive role for the Optimism Collective, helping to develop the entire Optimism ecosystem along with its underlying technologies. The backbone of the Optimism ecosystem, developed by OP Labs, is the Optimism blockchain network, which includes various Layer 2 solutions, collectively known as the Superchain. Airdrops Calendar .

Development of Optimism Ecosystem

As the native governance token of the Optimism network, the OP token is crucial for directing and managing the Optimism ecosystem's activities. Those who hold OP tokens can actively take part in decision-making processes that will influence the future direction and growth of Optimism.

To honor Web3 artists, Optimism plans to allocate 10,343,757.81 OP tokens, approximately valued at $40.8 million, across 22,998 different wallets. They have committed 19% of the total initial token supply specifically for distribution via airdrops, with around 560 million OP tokens reserved for future airdrop initiatives. OP tokens The diversified strategy of the Optimism Foundation, as demonstrated by this private token sale, underscores its commitment to fostering the development of the Optimism ecosystem.

Recently, Optimism initiated its fourth airdrop Please remember that the content on this page is not meant to be construed as legal, financial, or investment advice. Investing always carries risk, so only invest what you're willing to lose, and if uncertain, seek independent financial guidance. We recommend checking the terms and conditions, as well as the help and support pages provided by the issuer for more details. MetaversePost is dedicated to accurate reporting, but market conditions can shift rapidly without warning.

Alisa, a committed journalist at Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investment strategies, and the broad domain of Web3. With a sharp eye for up-and-coming trends and technologies, she offers in-depth coverage that engages readers in the fast-changing arena of digital finance.