1 year ago
The Optimism Network has revealed that it volition merchantability 116 cardinal OP tokens successful a bid of planned sales.
Ethereum layer-2 scaling solution Optimism (OP) has disclosed plans to merchantability 116 cardinal OP tokens to 7 backstage buyers for treasury absorption purposes
At existent prices, the merchantability volition spot $159 cardinal worthy of OP tokens alteration hands.
Starting today, determination volition beryllium respective transactions totaling astir 116M OP tokens. We’re sharing arsenic a heads up to our assemblage that these are planned transactions.
— Optimism (✨_✨) (@optimismFND) September 20, 2023While immoderate observers feared the merchantability would bring astir depressed prices from Optimism “dumping” its tokens connected the market, it seems improbable that the merchantability of the tokens volition person immoderate worldly interaction connected the terms of OP, owed to the merchantability being private.
Additionally, the tokens are being sourced from the unallocated information of the OP token treasury — meaning that they are not portion of the circulating supply.
Optimism (OP) token terms implicit the past 30 days. Source: CoinGeckoAs explained connected the Optimism website, the tokens are taxable to a two-year fastener up period, meaning that buyers are incapable to merchantability them connected secondary markets.
Buyers person been, however, granted support to delegate the tokens to unaffiliated 3rd parties for governance purposes.
Related: USD Coin officially expands to Base and Optimism networks
According to Optimism, this merchantability is portion of its archetypal program and is wholly accounted for successful its “original moving fund of 30% of the archetypal token supply.”
The merchantability comes conscionable 2 days aft Optimism announced its 3rd airdrop, wherever 19.4 cardinal OP tokens were allocated to much than 31,000 addresses who took portion successful delegation activities relating to the network’s decentralized autonomous enactment (DAO), Optimism Collective.
Today Optimism is announcing OP Airdrop #3.
19M OP allocated to implicit 31k unsocial addresses to reward positive-sum governance information successful the Collective.
Read connected for details connected eligibility criteria and allocations.
Optimism, Polygon and Arbitrum basal arsenic the astir heavy utilized layer-2 scaling solutions successful the industry.
Despite trailing down Arbitrum successful presumption of TVL, Optimism saw its total transactions eclipse that of Arbitrum successful August, being driven mostly by a surge successful enactment from Coinbase’s sandbox and the individuality verification task Worldcoin.
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