Level-2 blockchain Optimism to Sell 116 Million OP Tokens to Private Buyers
The team behind blockchain project Optimism has announced plans to sell 116 million OP tokens to private buyers. The purpose of the token sale is to manage the treasury, and the transactions will take place starting from September 21. The specific buyers have not been disclosed.
Starting today, there will be several transactions totaling approximately 116M OP tokens. We’re sharing as a heads up to our community that these are planned transactions.
— Optimism (✨🔴_🔴✨) (@optimismFND) September 20, 2023
The current trading price of the OP token is $1.35, making the total value of the token sale approximately $156.6 million. The tokens being sold come from the Unallocated portion of the OP Token treasury, which was part of the Foundation’s original working budget.
“The tokens come from the Unallocated portion of the OP Token treasury, and are part of the Foundation’s original working budget of 30% of the initial OP token supply.”
Optimism team
The token sale is not expected to have a significant impact on the price of OP. The tokens have a two-year lock-in period, preventing buyers from selling them during this time. However, buyers do have the option to delegate their OP tokens to independent third parties for management.
Optimism Launches New Airdrop and Distributes Tokens from Previous Airdrop
In addition to the token sale, Optimism has recently launched a new airdrop. In the third round of the airdrop, 19.4 million tokens were distributed to over 31,000 addresses. These addresses participated in delegating activities related to the Optimism Collective, a decentralized autonomous network organization. The aim of the airdrop is to increase network activity and reward participants for their contributions.
Furthermore, Optimism has completed the distribution of tokens from its first airdrop, which took place in June 2022. On September 15, unclaimed OP tokens worth $66.7 million were distributed among 88,000 unique addresses.
Hot Take: Optimism Expands Token Distribution and Treasury Management
Optimism’s decision to sell 116 million OP tokens to private buyers demonstrates its commitment to managing its treasury effectively. By conducting these planned transactions, Optimism aims to maintain financial stability and support the growth of its blockchain project. The token sale is expected to have minimal impact on the price of OP due to the lock-in period imposed on buyers. Additionally, the launch of a new airdrop and the distribution of tokens from previous airdrops further enhance user engagement and incentivize participation in Optimism’s development. These initiatives contribute to creating a vibrant and active community within the Optimism ecosystem.
By
By
By