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Optimism Foundation Announces Private Sale of 19.5 Million Governance Tokens

The Optimism Foundation has announced the commencement of a private sale involving approximately 19.5 million of its governance tokens, known as OP. This sale, which is estimated to be worth over $89 million, represents a substantial portion of the Foundation’s financial strategy, accounting for 30% of the initial OP token supply.

The tokens, which are part of the Foundation’s original working budget, are being sold to private individuals and will be subject to a two-year lock-up period. During this time, the purchasers will have the ability to delegate these tokens to third parties unaffiliated with the Foundation for the purpose of participating in governance decisions.

This strategic sale draws from the Unallocated portion of the OP Token treasury. The Optimism Foundation has always maintained transparency regarding its token supply, and public tracking is available for those interested in following the distribution and allocation of OP tokens.

In the coming days, the Foundation has planned several transactions to distribute the OP tokens. These transactions are part of a pre-planned schedule, and the Foundation has made a proactive effort to keep the community informed ahead of these movements.

Details surrounding the terms of the sale and the identity of the purchaser remain confidential, as is customary with private sales of this nature. However, this is not the first instance of such a sale by the Foundation. Previously, in September 2023, the Optimism Foundation conducted a similar private sale, offloading 116 million OP tokens valued at over $160 million at that time.

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