Community Decides TBD Allocation for OP Tokens
Token Unlocks, a platform that monitors upcoming unlocking events, reveals that 56% of the total OP token supply is currently in the to-be-discussed (TBD) allocation. This means that the community is yet to vote and decide where these tokens will be assigned in the future.
This revelation has caught the attention of both OP Mainnet, the team behind a popular Ethereum layer-2 scaling solution, and OP token holders. It’s especially noteworthy considering that approximately 2.4 billion OP, representing 55% of the maximum supply, remains under the TBD allocation. So far, over 831 million OP, or slightly above 19% of the max supply, have been unlocked.
OP Prices Trending Higher
The news comes at a time when OP prices have been on an upward trend, surpassing crucial resistance levels. Currently, OP is trading above September and October highs and has temporarily retested October highs. The bullish momentum on November 10 was accompanied by relatively high trading volume, indicating strong buying interest.
According to L2Beat, OP Mainnet is the second largest layer-2 scaling solution for Ethereum after Arbitrum One. With a total value locked (TVL) of $3.39 billion and a market share of 25%, it continues to be a significant player in the space.
Hot Take: Community Participation Crucial for Future of OP Tokens
The pending TBD allocation for a significant portion of OP tokens underscores the importance of community participation in shaping the future trajectory of this popular Ethereum layer-2 scaling solution. As prices continue to climb and competition intensifies in this space, decisions regarding token allocation will play a crucial role in determining OP Mainnet’s position and influence within the market.
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