Optimism (OP) Announces Fourth Airdrop, Valued at Nearly $41 Million

Optimism, the organization behind the Ethereum Layer-2 OP Mainnet, has announced its fourth airdrop, primarily targeting wallets that have interacted with NFTs.

Optimism (OP) Announces Fourth Airdrop, Valued at Nearly $41 Million

Early on February 21, Optimism initiated its fourth airdrop, distributing over 10.3 million OP tokens (equivalent to $40.8 million) to 22,998 eligible wallets. Users have until February 13, 2025, to claim their tokens.

According to the official announcement, wallets that have minted NFTs between January 10, 2023, and January 10, 2024, on the Ethereum mainnet or Optimism's Superchain are eligible for the latest airdrop.

The distribution of the airdrop is based on the amount of gas each individual has spent on minting or trading NFTs on the network. For instance, spending 1 ETH in gas on Optimism's Superchain earns 5,000 OP tokens. Each wallet can receive a maximum of 6,000 OP tokens (approximately $23,640). Spending the equivalent gas fee of 1 ETH on the Ethereum mainnet earns 50 OP tokens.

Additionally, token allocations can increase by 50% or multiplied by a factor of 1.5 if users meet additional criteria such as:

• Initiating NFT contracts before January 10, 2023.
• Engaging in NFT transfers after November 11, 2023.
• Active participation on Superchain since November 11, 2023.
• Spending more than 0.0005 ETH on NFT transfers since July 14, 2023.

Previously, Optimism conducted three airdrops on May 31, 2022, February 8, 2023, and September 13, 2023. In its latest round, the project distributed 19.4 million OP tokens, valued at $26 million, to nearly 32,000 delegating addresses of the DAO Optimism Collective.

As of now, Optimism still has approximately 560 million OP tokens allocated for future airdrops, confirmed by the project on X.

Following the announcement of the fourth airdrop, OP is experiencing slight adjustments similar to reactions observed in previous rounds. Optimism's token is currently trading at $3.9 USD on various exchanges.

Chart of the OP/USDT trading pair on Binance's 15-minute timeframe. Image captured at 09:25 AM on February 21, 2024.