OP Mainnet (Optimism) Prepares to Unlock 24 Million OP Tokens
According to its pre-scheduled timeline, the OP Mainnet (Optimism) layer-2 network is set to unlock 24.16 million OP tokens on July 30th.
https://cdn.coin68.com/images/20230726041416-9713d96a-cae3-4e18-8c19-c3084a87ceb1-68.jpg
OP Mainnet (Optimism) Prepares to Unlock 24 Million OP Tokens
According to Token Unlocks data, 24.16 million OP tokens, equivalent to 3.56% of the total supply and valued at $34.79 million at the time of writing, will be released into circulation by OP Mainnet starting July 30th.
[Token Unlocks data](Source: Token Unlocks)
This unlock event will allocate 12.75 million OP tokens to core contributors and 11.41 million OP tokens to investors. As of now, OP Mainnet has unlocked a total of 702.31 million OP tokens, accounting for 16% of the total supply.
OP token prices have decreased by 5% over the past few days but have generally remained stable ahead of the upcoming unlock, partly due to the moderate scale of this token release.
[OP price fluctuations](Price fluctuations of OP on a 1D timeframe on Binance)
During the previous unlock on June 30th, OP Mainnet released 386.5 million OP tokens valued at $591 million at the exchange rate at that time. The price of OP tokens dropped by more than 10% before quickly recovering by 15%.
OP Mainnet has seen significant developments recently, including a rebranding from Optimism to OP Mainnet, aiming to achieve its vision of becoming a Superchain. Furthermore, the project has been selected by BASE (a Coinbase-backed Layer-2 solution) and Zora (an NFT trading marketplace) for integration and development on the OP Stack toolkit. Most notably, the Worldcoin retinal scan project and the Public Goods Network community utility solution have also announced plans to deploy on OP Chain.
