Optimism Airdrops 19 Million Tokens to Loyal Supporters

Optimism Airdrops 19 Million Tokens to Loyal Supporters

Optimism, a prominent Layer-2 network, has initiated its third airdrop campaign, distributing a staggering 19 million OP tokens, equivalent to approximately $26 million, to over 31,000 distinct addresses. This unexpected windfall for token holders was officially announced via Optimism's X (formerly Twitter) account on September 18.

The primary criterion for eligibility in this airdrop was user participation in the governance of the Optimism DAO, known as the Collective, during the period from January 20 to July 20. Optimism emphasized the importance of robust governance for its success, stating, "Optimism is about scaling new coordination mechanisms. Healthy governance is crucial to the success of the Optimistic Vision. Airdrop #3 rewards those who have supported Optimism governance through delegation."

To qualify for the airdrop, users had to accumulate a minimum of 18,000 points, which were calculated by multiplying the number of delegated tokens by the duration of their holdings. This requirement necessitated a continuous 100-day holding period for at least 180 OP tokens within the specified six months. Additionally, participants who engaged in at least one on-chain proposal during this timeframe were eligible for extra rewards, although the maximum OP token reward per address was capped at 10,000 tokens.

Optimism had previously disclosed its intention to distribute 19% of its initial governance token supply. In May 2022, the network conducted its first airdrop, distributing over 200 million tokens, followed by a second airdrop in February that allocated nearly 12 million tokens to over 300,000 wallets.

Despite the excitement surrounding the airdrop, Optimism's OP token price remained largely unaffected. At the time of writing, the digital asset had experienced a marginal 0.94% decline in the last 24 hours, trading at $1.4021, as per data from CryptoSlate.

Transaction volume on Optimism's Layer-2 network has fluctuated between 300,000 and 450,000, following a decline from its all-time high of nearly 1 million transactions recorded in July, according to Etherscan data. Nonetheless, Optimism continues to maintain its position as the second-largest Layer-2 network by the total value of assets locked. It has witnessed substantial adoption, with various crypto projects, including WorldCoin and Base, choosing to build on its platform.

In conclusion, Optimism's recent airdrop of 19 million tokens serves as a testament to its commitment to rewarding loyal supporters who actively engage in governance activities. Despite minimal fluctuations in token price, Optimism remains a prominent player in the Layer-2 ecosystem, attracting diverse projects to leverage its infrastructure for their development needs.

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