Optimism Conducts Third Phase of OP Airdrop

After a prolonged wait, Ethereum's layer-2 solution, Optimism, has announced its latest token OP airdrop event for active participants in governance activities.

Optimism Conducts Third Phase of OP Airdrop. Image: Optimism

Specifically, this marks the third airdrop event for OP tokens on the OP Mainnet since its launch in June 2022.

In the latest airdrop round, Optimism will distribute 19.4 million OP tokens (approximately $26.5 million) to over 31,870 valid addresses that have actively contributed to the governance operations of the Optimism Collective. Eligibility criteria include users who staked their OP tokens for governance between January 20 and July 20, 2023.

Additionally, those who delegated tokens to active governance participants on Optimism will receive a double reward multiplier.

According to the project's announcement, the distribution of airdropped tokens began directly to user wallets early on September 19. Users are not required to perform any claiming actions and should beware of misinformation to prevent scams.

Following the airdrop announcement, the price of OP tokens has shown minimal volatility.

Hourly chart of OP/USDT pair on Binance as of 08:05 AM on September 19, 2023

This marks the second instance within a few days where Optimism has allocated OP tokens to the community. Previously, on September 16, the project distributed 48 million surplus OP tokens from the first airdrop to eligible unclaimed addresses.

In summary, Optimism has conducted three rounds of airdrops for users:

• Phase 1 (June 2022): Airdropped 214 million OP tokens, accounting for 5% of total supply.
• Phase 2 (February 2023): Airdropped 11.7 million OP tokens, accounting for 0.27% of total supply.
• Phase 3 (September 2023): Airdropped 19.4 million OP tokens, accounting for 0.45% of total supply.

According to tokenomics, Optimism plans to airdrop up to 19% of the total OP supply to its user base, with approximately 13.28% of the total 4.29 billion OP tokens still earmarked for future airdrops.

Optimism remains a leading layer-2 solution on Ethereum with a Total Value Locked (TVL) of $2.48 billion, second only to Arbitrum.

In addition to serving as Ethereum's layer-2 solution, Optimism has become a platform for various projects to build their own layer-2 solutions using the OP Stack toolkit, including notable projects like Coinbase's Base, Zora Network by Zora, DeBank Chain by DeBank, Celo, and Ancient8 Chain.