Optimism, the Layer-2 scaling solution built on Ethereum, has initiated a private token sale of approximately 116 million OP tokens. This unexpected sale is intended to bolster the project’s treasury and marks the fourth significant development for Optimism within a week.
The private token sale, which took place recently, saw the distribution of OP tokens among seven purchasers. These tokens will be locked up for a two-year period, during which the purchasers have the option to delegate them to unaffiliated third parties for participation in governance processes.
The tokens involved in this sale were sourced from the Unallocated portion of the OP Token treasury, which forms part of the Foundation’s original working budget, accounting for 30% of the initial OP token supply.
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
Optimism has been making waves with its rapid series of token-related announcements. On September 16, the Layer-2 solution revealed its plans to distribute the remaining 48 million OP tokens from the June 2022 airdrop to eligible, yet unclaimed wallet addresses. This move aimed to ensure that rightful recipients received their OP tokens.
Just three days later, on September 19, Optimism executed its third airdrop, distributing 19.4 million OP tokens to over 31,000 participating wallet addresses. This initiative strengthened the project’s commitment to community engagement and distribution of tokens.
In a continuation of their proactive approach, Optimism made another announcement on September 20, revealing their plans to launch a funding round worth 30 million OP tokens. This capital infusion is designed to further stimulate the development of the Optimism ecosystem.
Read more:
- Bulls Optimism (OP) Is Turning Back, This’s An Important Level To Watch
- Optimism Announces Airdrop #3, Distributing 19M OP Tokens To Over 31,000 Unique Addresses