Optimism Announces Airdrop #3, Distributing 19M OP Tokens to Over 31,000 Unique Addresses

Optimism, the blockchain scaling solution, made a significant announcement that has caught the attention of cryptocurrency enthusiasts and token holders worldwide. On September 19, 2023, Optimism officially revealed Airdrop #3, a distribution of 19 million OP tokens to more than 31,000 unique addresses. This airdrop aims to reward individuals who actively participated in positive-sum governance within the Optimism Collective.

Optimism’s commitment to community involvement and decentralized governance is once again on full display with Airdrop #3. The distribution of OP tokens commenced on Monday, September 18th, 2023, at 18:10 UTC. Notably, Optimism has issued a security advisory warning users against interacting with any website claiming to disperse Airdrop #3. This cautionary measure is to ensure the safety and integrity of the distribution process.

Eligibility Criteria and Allocations

Airdrop #3 is not a free-for-all distribution; it specifically targets addresses that have delegated the voting power of their OP tokens between January 20th and July 20th of 2023. The distribution allocated a total of 19,411,313 OP tokens to 31,870 unique addresses, following a similar positive-sum governance participation reward structure as Airdrop #2.

One key element of eligibility is the delegation of tokens during the specified timeframe. Users who delegated their tokens between January 20, 2023, at 0:00 UTC and July 20, 2023, at 0:00 UTC were recipients of this airdrop. Moreover, those who delegated to a delegate who actively participated in Optimism Governance received an additional bonus.

What sets Airdrop #3 apart is that eligible addresses do not need to go through a claiming process. The tokens are disbursed directly to the wallets that meet the criteria, and this distribution is scheduled to occur on or shortly after September 15, 2023.

Airdrop #3 Allocations

The allocations for Airdrop #3 are divided into two main reward types:

  1. Governance Delegation Reward: This reward is based on the amount of OP delegated above the minimum threshold. A total of 31,529 addresses qualified for this reward, with a formula of 0.67 OP per OP Delegated per Day, capped at a maximum of 10,000 OP tokens per address.
  2. Voting Delegate Bonus: Addresses that delegated their tokens to an address that voted on-chain at least once during the specified snapshot period also received a bonus. In this case, 25,561 addresses met the criteria, with a reward formula of (0.67 OP per OP Delegated per Day) multiplied by 2, again capped at 10,000 OP tokens per address.

Cutoff Criteria and Additional Details

To ensure fairness and equity in the distribution, certain cutoff criteria were established:

  • Addresses with fewer than 18,000 OP Delegated x Days (or 9,000 if delegated to a voting delegate) were not eligible for Airdrop #3.
  • Addresses with delegation periods of less than 7 days did not qualify.
  • Known delegation program wallets were also excluded from this airdrop.
  • Each reward type had a maximum reward limit of 10,000 OP tokens per address.

For users wondering about their cumulative delegated OP, it’s calculated by multiplying the amount of OP delegated by the time it was delegated. For eligibility in Airdrop #3, a cumulative delegated OP of more than 18,000 (or 9,000 for voting delegates) was required.

What’s Next?

As of now, eligible addresses are in the process of receiving their OP tokens for Airdrop #3. Importantly, there is no need for recipients to claim these tokens through any website. Optimism is committed to a secure and straightforward distribution process, advising users to avoid interacting with any sites claiming otherwise.

In a gesture of inclusivity, Optimism has dedicated a significant portion of its total initial supply of OP tokens to airdrops, with 19% earmarked for such initiatives. This commitment to rewarding community participation reflects Optimism’s dedication to decentralization and its belief in the power of positive-sum governance within the Collective.

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