Optimism, the expansion plan of Ethereum, announced that it will issue the token OP and announce the token economics

On April 27th, the Ethereum expansion plan Optimism officially announced that it will issue the token OP and announce the token economics. The initial total supply of tokens is 4,294,967,296 OP tokens, and the total supply will expand at a rate of 2% per year. 19% of the initial OP token supply is reserved for user airdrops, of which 5% will be allocated in Airdrop #1, a total of 264,000 addresses are eligible for airdrops, and the average number of airdrops per address is 2,311, and the snapshot time is March 25 Today, another 14% will be distributed in future airdrops. At present, users can view the specific airdrop quantity at this URL. The official airdrop date will be announced on Twitter by @optimismPBC. Airdrop #1 does not require payment.

In fact, the launch of OP has traces to follow. Not long ago, Optimism, the second-layer expansion network of Ethereum, published “A New Chapter”, reviewing the progress made in the past, network achievements, financing information, etc. and Governance Driven” with more information to come. According to community speculation and the official roadmap, Optimism may soon launch Token OP.

In addition, Optimism, the Ethereum expansion plan, announced the launch of the governance system Optimism Collective. According to the official introduction, the Optimism Collective is composed of communities, companies and citizens, and is jointly governed by Citizens’ House and Token House. It aims to avoid the governance traps that occur with other governance models on Ethereum and promote the high speed of the decentralized ecosystem. and sustainable development.

The Optimism Collective’s philosophy is that healthy public goods create a thriving and valuable ecosystem. The economics of the ecosystem are designed to create value for three constituencies: Token holders gain value through efficient redeployment of sequencing revenue. Sequencer revenue is primarily used to fund public goods that create ecosystem value and drive demand for block space. Contributors and builders derive value directly from retroactive public goods funding and the marketplace it supports. Builders can also benefit symbiotically: it’s better to build an ecosystem with well-funded tools, education, applications, and infrastructure.

The value of users and community members comes from OP’s continuous airdrops, project incentives supported by OP ecosystem funds, and the benefits provided by public goods.

For this time Optimism officially announced that it will issue token OP and announce token economics, Optimism Foundation officially pointed out that Airdrop #1 rewards those who are early adopters and active users of projects in the Optimism ecosystem. In celebration of Ethereum’s roots, we also want to welcome active L1 participants who can help expand Ethereum’s innovation, culture, and values ​​to Layer 2. A total of 264,079 addresses are eligible to claim OP in this initial airdrop.

OP allocation mechanism

At genesis, the initial total supply was 4,294,967,296 OP tokens. The total token supply will expand at a rate of 2% per year. 64% of the initial token supply (i.e. the total amount of OP not reserved for core contributors or powdered sugar) will be distributed to the community as described above. Over time, these assignments will be managed by the Optimism Foundation as stewards of the Optimism Collective.

In year 1, 30% of the initial token supply will be given to the foundation for distribution. After the first year, token holders will vote on the foundation’s annual OP allocation budget. The Foundation wishes to seek the following annual grants: Year 2: 15% of the Initial Token Supply; Year 3: 10% of the Initial Token Supply; Year 4: 4% of the Initial Token Supply.

Additional allocations are expected to be required if the Foundation-authorized OP payout falls below 10% of the initial token supply. In conclusion, we expect the total supply of unlocked OP tokens to be close to the graph below. Note that this chart is for illustration only, the actual unlocked supply will depend on governance and the ratio of OP split between user airdrops, ecosystem funds and RetroPGF.


In terms of specific distribution, 25% of tokens are allocated to the ecosystem fund, 20% of tokens are allocated to retroactive public goods funding, 19% of tokens are allocated to user airdrops, and 19% of tokens are allocated to core contributors. 17% of tokens are allocated to investors.



(Assignment at a glance)

User Airdrop

The Optimism Foundation will distribute a portion of the OP Tokens to members of the Optimism and Ethereum communities in multiples. The first user airdrop will allocate 5% of the OP token supply, and 14% of the OP token will be airdropped in the future. The specific mechanism can be found in the third part.

Ecosystem Fund

The Ecosystem Fund is an incentive program designed to stimulate the development of collective ecosystems. The Ecosystem Fund will be used to directly fund communities and companies driving the expansion of the Collective Ecosystem (OPCO), including governance funds (5.4%), partner funds (5.4%), seed funds (5.4%) and unallocated (8.8%) ). The Ecosystem Fund is intended to be a launch mechanism that will be completely phased out once the OP in the fund is exhausted. Optimism expects that the functions served by ecosystem funds will eventually be replaced by third-party investors such as private placements.

Retrospective Public Goods Fundraising

Retroactive Public Goods Fundraising (RetroPGF) will initially be distributed by Citizens’ House. RetroPGF rounds are expected to be conducted quarterly to ensure that all OPCOs are fully, appropriately and reliably rewarded based on their collective impact. RetroPGF will be funded by several revenue streams: 20% of the initial OP token supply as “RetroPGF Reserve”; Optimism network transaction fees and Sequencer revenue.

core contributor 

Core contributor shares will be allocated to those who help bring Optimism and Optimism Collective from concept to reality, and will continue to pay for the development of the protocol. All tokens in this section will be subject to a lock-up period.


Investors funded Optimism’s wild vision for the future. All tokens in this section will be subject to a lock-up period.

Airdrop standards that users care about

Optimism Foundation officially pointed out: Our airdrop has six sets of standards. Two Optimism users for early adopters and active project users, and four for L1 Ethereum, for Active Contribution, Positive Sum Behavior, and Active Participation. Each set is different, which means that an address can qualify for more than one and allocate a certain amount of tokens accordingly. The address snapshot was taken on March 25, 2022 at 0:00 UTC. The allocations and criteria are broken down as follows:


Note: Repeat Optimism users will get 727.36 + 1,584.42 = 2,311.78 OP


The amount of OP Tokens received by an address is cumulative, which means that the sum of the OP Tokens allocated for each matching condition set is the amount that the address is eligible to claim.

early adopter

We tried to identify Optimism users who were actively using the app on Optimism as part of their encryption experience. The group selects addresses that have used Optimism, including early adopters and new users, but narrows down to groups that have used Optimism multiple times.

Standard: Addresses bridged from L1 to Optimism in the early stages of mainnet (before June 23, 2021), or using Optimism for more than 1 day (at least 24 hours between first and last transaction) and transacting using the app (until after June 23, 2021).

Active Optimism users

This tier selects the most active Optimism users, who come back repeatedly to use applications in the Optimism ecosystem.

Criteria: The address is “Optimism User” and has made at least 1 transaction with the Optimism app in four different weeks. This will select the top 20% of “optimistic users”.

Active Ethereum Participants

These rules are designed to target behavior consistent with Ethereum and Optimism values, namely positive contribution, positive-sum behavior, and the expansion of decentralized applications around the world.

DAO voters

We believe that active and participatory governance is essential to scaling decentralized systems. Addresses that meet this criterion have actively chosen to actively contribute by participating in governance.

Criteria: The address has voted or authored at least one on-chain proposal, or at least two snapshot (off-chain) proposals.

We filter out “active DAOs” with at least 5 proposals and at least 5 votes.

On-chain governance contracts include: Governor Alpha and Bravo, Aave, Maker, Curve, Aragon, DAOHaus, DAOStack and Forks.

Since snapshot voting is off-chain, we recognize that these are more susceptible to spam/farm behavior, often driven by voters with nominal voting rights. To mitigate this, we filter snapshot votes to the top 99.9% of voters in each DAO (i.e. >= 0.1% of voting power consists of the sum of all smaller voters).


Multi-signers are delegated to own larger pools of funds or control key protocol functions. They are often the leaders and builders of current (and future) DAOs.

Criteria: The address is a current signer on the Multi-Sig who has executed at least 10 transactions at all times (this group includes 95% of all multi-sig transactions).

The Multisig wallet includes: Gnosis Safe v0.1.0-1.3.0, MultiSigWithDailyLimit, MultiSigWalletWithTimeLock, and addresses in Etherscan’s “Multisig” tab, which has the ability to get the owner’s address.

Gitcoin Donors

Gitcoin donors choose to act in a positive-sum fashion by funding public goods. These addresses may also align with Optimism’s goal of establishing a sustainable source of funding for public goods through retrospective funding (RetroPGF).

Standard: Address made an on-chain donation via Gitcoin. This includes any donations, whether in matching rounds or not.

In the time period between rounds 1 and 5, we included addresses that interacted with Gitcoin contracts, sent legacy ExecuteSubscription calls, or appeared in Gitcoin’s Donor API. Between rounds 6 and 13 (for now), we include the donor address in the Gitcoin’s “BulkCheckout” contract transaction log.

Users who abandon Ethereum completely will not receive airdrops

Active users of dapps on Ethereum are critical to the development of the ecosystem. Many of these addresses have started bridging with other chains due to high fees, and we want to help keep them in the Ethereum ecosystem while rewarding their curiosity and exploration. Optimism’s airdrops are also calibrated to reward loyalty to Ethereum, so users who abandon Ethereum entirely will not receive airdrops.

Standard: Addresses bridged to another chain, but still made application transactions on Ethereum every month after they bridged, and averaged at least 2 transactions per week since then (top 60 matching addresses %). Bridges include TVL’s top L1: Terra, BSC, Fantom, Avalanche, Solana, Polygon; and general L2: Arbtirum, Optimism, Metis, Boba. To ensure we have enough time to sample activity, addresses must bridge from Ethereum at least 90 days before the snapshot.

Overlapping rewards

Early Optimism users who meet multiple Ethereum standards are most likely to become significant players in the Optimism ecosystem, so these addresses receive additional overlapping rewards.

Criteria: Addresses meet the “Optimistic Early Adopter” criteria and match at least 4 sets of criteria in total (including optimistic criteria). Overlapping bonuses increase as more conditions are matched (i.e. bonus for 5 conditions is greater than bonus for 4 conditions)

global filter criteria

We believe this is best for the community as our airdrop list is as narrow as possible to real users and honest actors. So we apply some basic filters to various criteria:

Address activity: An address needs to have used Ethereum for more than 1 day (24 hours between the first and last transaction) to qualify as an “active Ethereum participant”. This applies to all Ethereum standards except for multi-signers, since signers usually have “signature-only” addresses.

Sybil Farmers: We identified some possible patterns of sybil attackers who often create tens, hundreds, or more duplicate addresses. We require stricter activity criteria for these addresses, which helps filter out these attackers, but also retains many real users. It’s impossible to catch everything, but removing as many sybillors as possible helps get more OP in the hands of true positive-sum participants.

Snap bots and spam: We used ENS’s bot capture proposal (opens a new window) to filter out addresses for spam snapshot polls. Snapshot spaces that appear to have been corrupted or faked are also excluded.

Exchanges and on-ramps: We filtered our known centralized exchanges and fiat on-ramp addresses.

Exploiters: Filter out known exploit addresses.

Recency filter: Addresses that require transactions after January 1, 2019. For multi-signers, only multi-signatures are required to execute transactions after January 1, 2019.

Introduction to Optimism

Optimism is a Layer 2 network that builds instant transactions and scalable smart contracts on Ethereum, and creates OVM in Optimism, designed to work with Ethereum Layer 1, which not only retains the security of the Ethereum mainnet but also greatly reduces gas fees. The investment institutions are also Paradigm and A16z, the top investment institutions in the crypto industry. According to official information, the Optimism mainnet has been launched in 2021. It has helped users save over $1.1 billion in gas costs, deployed over 6,800 contracts, facilitated over $17.4 billion in transaction volume, and generated over $24.5 million in revenue. Donated over $1 million to public goods funds.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/optimism-the-expansion-plan-of-ethereum-announced-that-it-will-issue-the-token-op-and-announce-the-token-economics/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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