17 hours ago
The Optimism Foundation has floated a large shakeup to the dynamics of the furniture 2’s OP token, proposing to allocate 50% of its Superchain gross to regular buybacks of the asset.
Optimism Grants assembly subordinate Michael Vander Meiden shared the connection via X connected Thursday, highlighting that “after galore years of being a ‘useless gov token’ the worth of the OP token volition yet beryllium tied to web activity.”
The connection was initially submitted successful the Optimism governance forum connected Wednesday. It outlines a program to nonstop 50% of incoming Superchain gross to monthly Optimism (OP) buybacks that volition travel backmost into the token treasury.
“These tokens tin past beryllium burned oregon distributed arsenic staking rewards arsenic the level evolves. Governance volition clasp oversight implicit parameters that power the buyback and the token treasury,” the Optimism Foundation said.
OP buyback proposal. Source: Optimism Optimism wants to turn OP inferior beyond governance
The determination is portion of a propulsion to grow OP inferior beyond chiefly governance into thing that is “tightly aligned with the maturation of the Superchain,” and could supply a large boost to OP holders and builders wrong the ecosystem.
“As the Superchain evolves, the token whitethorn instrumentality connected further functionality aligned with the network’s semipermanent decentralization and resilience, including roles successful securing shared infrastructure, coordinating sequencer rotation, and enabling corporate governance implicit halfway protocol functions,” the Optimism Foundation said.
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The connection outlined the value of relativizing OP to bespeak the maturation of Optimism from being an “experiment” successful Ethereum scaling to an ecosystem hosting a important amount of full furniture 2 activity.
“The Superchain captured 61.4% L2 interest marketplace stock and processes 13% of each crypto transactions, and that stock continues to rise. The OP token should beryllium aligned with that momentum and growth,” the squad said.
Optimism’s Superchain was launched backmost successful February 2023 and consists of a web of layer-2 (L2) chains built with the project's open-source OP stack. The ecosystem hosts chains specified arsenic Unichain, Ink and Coinbase’s L2 Base.
The OP token had a pugnacious 2025, with its terms declining by astir 83%. The terms has yet to bounce this week connected the quality of the proposal.
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